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 transaction, the executive now directly owns 25,422 shares of the company’s stock, valued at $582,163.80. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, April 2nd, Jonathan Vassil sold 2,282 shares of Toast stock. The stock was 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 stock was 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 stock was sold at an average price of $18.72, for a total value of $17,147.52.

Toast Trading Up 1.4 %

Shares of TOST traded up $0.32 during midday trading on Wednesday, reaching $22.76. 3,953,122 shares of the company were exchanged, compared to its average volume of 8,308,808. The stock has a 50-day moving average price of $22.89 and a 200-day moving average price of $18.96. The company has a market cap of $9.95 billion, a price-to-earnings ratio of -44.00 and a beta of 1.79. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $27.00.

Toast (NYSE:TOST) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The firm’s quarterly revenue was up 34.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. Equities research analysts anticipate that Toast, Inc. will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TOST. Altimeter Capital Management LP lifted its stake in shares of Toast by 3,508.4% during the first quarter. Altimeter Capital Management LP now owns 18,041,796 shares of the company’s stock worth $3,933,007,000 after purchasing an additional 17,541,796 shares in the last quarter. Morgan Stanley lifted its stake in shares of Toast by 149.3% during the third quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock worth $224,896,000 after purchasing an additional 7,191,595 shares in the last quarter. Blue Owl Capital Holdings LP lifted its stake in shares of Toast by 1,726.0% during the fourth quarter. Blue Owl Capital Holdings LP now owns 5,890,274 shares of the company’s stock worth $107,556,000 after purchasing an additional 5,567,696 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Toast by 23.6% during the third quarter. Vanguard Group Inc. now owns 27,413,189 shares of the company’s stock worth $458,348,000 after purchasing an additional 5,232,858 shares in the last quarter. Finally, Whale Rock Capital Management LLC purchased a new stake in shares of Toast during the second quarter worth about $111,554,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on TOST shares. The Goldman Sachs Group raised their price target on Toast from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday. Evercore ISI started coverage on Toast in a research report on Monday, March 4th. They set an “outperform” rating and a $32.00 price target for the company. Redburn Atlantic raised Toast from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods assumed coverage on Toast in a research report on Tuesday, April 9th. They set a “market perform” rating and a $25.00 price target for the company. Finally, UBS Group raised their price objective on Toast from $22.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.32.

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.