Key Points
- Toast CRO Jonathan Vassil sold 3,150 shares on July 7 at an average price of $30.03, worth about $94,595. The sale reduced his position by 4.31% and was made under a pre-arranged Rule 10b5-1 plan.
- Vassil had also sold 6,647 shares on July 2 for about $191,766, adding to recent insider selling activity at Toast.
- Despite the insider sales, analysts remain generally constructive: Toast has a consensus "Moderate Buy" rating with an average price target of $37.59, though some firms have recently trimmed targets or downgraded the stock.
Toast, Inc. (NYSE:TOST - Get Free Report) CRO Jonathan Vassil sold 3,150 shares of Toast stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $30.03, for a total value of $94,594.50. Following the completion of the transaction, the executive owned 69,966 shares of the company's stock, valued at approximately $2,101,078.98. The trade was a 4.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 shares were sold at an average price of $28.85, for a total value of $191,765.95.
Toast Trading Up 0.9%
TOST stock opened at $28.82 on Friday. The stock's 50 day simple moving average is $25.68 and its 200 day simple moving average is $28.47. Toast, Inc. has a 12-month low of $22.26 and a 12-month high of $49.66. The firm has a market cap of $14.87 billion, a P/E ratio of 44.34 and a beta of 1.74.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. DA Davidson dropped their target price on shares of Toast from $33.00 to $28.00 and set a "neutral" rating on the stock in a report on Tuesday, May 12th. Truist Financial decreased their price target on shares of Toast from $36.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. Wall Street Zen downgraded shares of Toast from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Barclays started coverage on shares of Toast in a research note on Tuesday. They set an "overweight" rating and a $35.00 price objective on the stock. Finally, Citigroup cut their target price on shares of Toast from $42.00 to $36.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.59.
View Our Latest Analysis on Toast
Institutional Investors Weigh In On Toast
Hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its holdings 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 increased its holdings in shares of Toast by 6.7% in the 4th quarter. Morgan Stanley now owns 10,372,626 shares of the company's stock worth $368,332,000 after acquiring an additional 653,487 shares during the period. State Street Corp increased its holdings in shares of Toast by 3.0% in the 4th quarter. State Street Corp now owns 9,820,594 shares of the company's stock worth $348,729,000 after acquiring an additional 282,282 shares during the period. XN LP increased its holdings 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 acquiring an additional 3,029,856 shares during the period. Finally, Geode Capital Management LLC lifted its position in Toast by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company's stock valued at $307,214,000 after purchasing an additional 169,230 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.
Key Toast News
Here are the key news stories impacting Toast this week:
- Positive Sentiment: Goldman Sachs upgraded Toast (TOST) to Buy, citing new products and market expansion as drivers of longer-term growth. Toast upgraded to Buy at Goldman Sachs on new product and market expansion efforts
- Neutral Sentiment: Toast remains in focus after several insider sales were disclosed, including a recent sale by CRO Jonathan Vassil under a pre-arranged trading plan, which may add some caution but does not necessarily signal a change in business fundamentals.
- Neutral Sentiment: A broader payments-industry article noted that bank efforts to own more of the debit-network infrastructure could reshape competition across merchant payments, an indirect theme for Toast’s competitive landscape. 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, which signals some near-term skepticism after the stock’s recent run. Zacks.com
About Toast
(
Get Free Report)
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.
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