Insider Selling: Toast, Inc. (NYSE:TOST) CRO Sells 50,000 Shares of Stock

Toast, Inc. (NYSE:TOST) CRO Jonathan Vassil sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $22.90, for a total value of $1,145,000.00. Following the completion of the sale, the executive now directly owns 25,422 shares in the company, valued at $582,163.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, April 2nd, Jonathan Vassil sold 2,282 shares of Toast stock. The shares were sold at an average price of $23.40, for a total value of $53,398.80.
• On Wednesday, March 13th, Jonathan Vassil sold 100,000 shares of Toast stock. The shares were sold at an average price of $25.24, for a total value of $2,524,000.00.
• On Friday, February 2nd, Jonathan Vassil sold 916 shares of Toast stock. The shares were sold at an average price of $18.72, for a total value of $17,147.52.

Toast Stock Performance

Shares of Toast stock traded up $0.32 during trading hours on Wednesday, hitting $22.76. The company’s stock had a trading volume of 3,953,122 shares, compared to its average volume of 8,308,808. Toast, Inc. has a twelve month low of $13.77 and a twelve month high of $27.00. The firm has a fifty day moving average of $22.89 and a 200-day moving average of $18.96. The stock has a market cap of $9.95 billion, a price-to-earnings ratio of -44.00 and a beta of 1.79.

Toast (NYSE:TOST) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the company posted ($0.19) EPS. The company’s quarterly revenue was up 34.7% on a year-over-year basis. On average, sell-side analysts expect that Toast, Inc. will post -0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TOST shares. Wells Fargo & Company raised their target price on Toast from $15.00 to $17.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. BNP Paribas upgraded Toast from a “neutral” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Thursday, March 7th. Redburn Atlantic upgraded Toast from a “neutral” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods started coverage on Toast in a research report on Tuesday, April 9th. They issued a “market perform” rating and a $25.00 target price on the stock. Finally, Piper Sandler raised their target price on Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $24.32.

Hedge Funds Weigh In On Toast

Several large investors have recently modified their holdings of the business. Baystate Wealth Management LLC purchased a new stake in shares of Toast in the 3rd quarter valued at $29,000. BluePath Capital Management LLC purchased a new stake in shares of Toast in the 3rd quarter valued at $30,000. Principal Securities Inc. purchased a new stake in shares of Toast in the 4th quarter valued at $30,000. Cape Investment Advisory Inc. purchased a new stake in shares of Toast in the 4th quarter valued at $31,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Toast by 277.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,710 shares of the company’s stock valued at $31,000 after buying an additional 1,257 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Company Profile

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.