Jonathan Vassil Sells 6,647 Shares of Toast (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) CRO Jonathan Vassil sold 6,647 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total transaction of $191,765.95. Following the transaction, the executive owned 69,966 shares in the company, valued at $2,018,519.10. The trade was a 8.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Toast Trading Up 0.5%

NYSE TOST opened at $29.62 on Wednesday. Toast, Inc. has a 12-month low of $22.26 and a 12-month high of $49.66. The company has a fifty day simple moving average of $25.69 and a two-hundred day simple moving average of $28.58. The stock has a market cap of $15.28 billion, a P/E ratio of 45.56 and a beta of 1.74.

Wall Street Analyst Weigh In

Several research firms have weighed in on TOST. DA Davidson dropped their price target on Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Mizuho decreased their target price on Toast from $45.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Morgan Stanley set a $45.00 target price on Toast in a research report on Friday, May 8th. Oppenheimer reiterated an “outperform” rating and issued a $36.00 price target on shares of Toast in a report on Friday, May 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Toast in a research report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Toast presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.62.

Institutional Trading of Toast

Hedge funds have recently modified their holdings of the stock. Bayban purchased a new position in Toast during the fourth quarter valued at approximately $25,000. SHP Wealth Management purchased a new stake in Toast in the 4th quarter worth approximately $29,000. Strive Financial Group LLC acquired a new stake in shares of Toast during the 4th quarter worth approximately $29,000. Central Pacific Bank Trust Division grew its stake in shares of Toast by 123.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock worth $33,000 after purchasing an additional 521 shares during the period. Finally, Silicon Valley Capital Partners purchased a new position in shares of Toast during the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.