Insider Selling: Toast (NYSE:TOST) CRO Sells $94,594.50 in Stock

Toast, Inc. (NYSE:TOST) CRO Jonathan Vassil sold 3,150 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $30.03, for a total transaction of $94,594.50. Following the completion of the sale, the executive directly owned 69,966 shares of the company’s stock, valued at $2,101,078.98. The trade was a 4.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jonathan Vassil also recently made the following trade(s):

• On Thursday, July 2nd, Jonathan Vassil sold 6,647 shares of Toast stock. The stock was sold at an average price of $28.85, for a total value of $191,765.95.

Toast Stock Performance

Shares of NYSE TOST traded up $0.47 during trading on Friday, reaching $29.32. The stock had a trading volume of 7,146,169 shares, compared to its average volume of 13,711,114. The stock has a market cap of $15.13 billion, a PE ratio of 45.12 and a beta of 1.74. Toast, Inc. has a one year low of $22.26 and a one year high of $49.66. The firm’s 50 day moving average price is $25.69 and its two-hundred day moving average price is $28.48.

Trending Headlines about Toast

Here are the key news stories impacting Toast this week:

• Positive Sentiment: Barclays upgraded Toast (TOST) to strong-buy, adding to the bullish view that recent growth, improving margins, and AI-driven product momentum could support the company’s longer-term outlook.
• Positive Sentiment: Goldman Sachs also upgraded Toast (TOST) to Buy, citing new product initiatives and market expansion efforts as reasons for continued growth potential. Toast upgraded to Buy at Goldman Sachs on new product and market expansion efforts
• Neutral Sentiment: Wall Street consensus remains constructive, with analysts still rating Toast (TOST) a Moderate Buy overall, suggesting expectations for further business growth remain intact despite the stock’s recent run.
• Neutral Sentiment: Several insider sales, including a pre-planned transaction by CRO Jonathan Vassil, may slightly pressure sentiment, but the activity does not appear to indicate a fundamental change in the business. Toast (NYSE:TOST) CRO Jonathan Vassil Sells 3,150 Shares of Stock
• Neutral Sentiment: Industry commentary on debit-network competition and payments infrastructure points to a changing merchant-payments landscape, which could affect Toast (TOST) over time but is not an immediate catalyst. Fiserv’s Debit Network Talks Raise a Bigger Question for Visa and Mastercard (TOST)
• Negative Sentiment: Zacks Research downgraded Toast (TOST) from Strong-Buy to Hold, reflecting some near-term caution after the stock’s recent gains and concerns about costs and restaurant demand. Zacks.com
• Negative Sentiment: One article argued that Toast (TOST) still looks expensive even with fair-value support, reinforcing valuation concerns that could limit upside. Toast (TOST) Stock Looks Rich Even With Fair Value Support

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. Piper Sandler started coverage on shares of Toast in a report on Wednesday, June 10th. They set an “overweight” rating and a $32.00 price target for the company. Barclays assumed coverage on shares of Toast in a research report on Tuesday. They set an “overweight” rating and a $35.00 price target for the company. The Goldman Sachs Group upgraded shares of Toast from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Thursday. Finally, Truist Financial decreased their target price on shares of Toast from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.59.

Hedge Funds Weigh In On Toast

Several large investors have recently bought and sold shares of the stock. Jennison Associates LLC increased its stake in shares of Toast by 1.0% during the fourth quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock valued at $538,259,000 after acquiring an additional 157,394 shares during the period. Morgan Stanley boosted its stake in Toast by 6.7% during the 4th quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock valued at $368,332,000 after purchasing an additional 653,487 shares in the last quarter. State Street Corp increased its position in shares of Toast by 3.0% during the 4th quarter. State Street Corp now owns 9,820,594 shares of the company’s stock valued at $348,729,000 after purchasing an additional 282,282 shares during the period. XN LP raised its stake in shares of Toast by 50.8% in the 4th quarter. XN LP now owns 8,988,386 shares of the company’s stock worth $319,178,000 after buying an additional 3,029,856 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Toast by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company’s stock worth $307,214,000 after buying an additional 169,230 shares in the last quarter. Institutional investors and hedge funds 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.