Toast (NYSE:TOST) CRO Jonathan Vassil Sells 3,150 Shares of Stock

Toast, Inc. (NYSE:TOST) CRO Jonathan Vassil sold 3,150 shares of the business’s 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 transaction, the executive directly owned 69,966 shares in the company, valued at $2,101,078.98. This trade represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $191,765.95.

Toast Stock Up 0.9%

TOST opened at $28.82 on Friday. The firm has a market capitalization of $14.87 billion, a P/E ratio of 44.34 and a beta of 1.74. The firm’s 50 day moving average is $25.68 and its 200-day moving average is $28.47. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $49.66.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $36.00 price target on shares of Toast in a research note on Friday, May 8th. Wall Street Zen cut shares of Toast from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Robert W. Baird raised their target price on Toast from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday. Barclays assumed coverage on Toast in a research report on Tuesday. They set an “overweight” rating and a $35.00 target price on the stock. Finally, Zacks Research cut Toast from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.59.

Institutional Trading of Toast

Several institutional investors have recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC grew its holdings in Toast by 13.7% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 28,910 shares of the company’s stock worth $804,000 after acquiring an additional 3,481 shares in the last quarter. Chesley Taft & Associates LLC acquired a new stake in shares of Toast in the 2nd quarter valued at about $1,602,000. Wynn Capital LLC raised its stake in shares of Toast by 4.2% in the 2nd quarter. Wynn Capital LLC now owns 14,615 shares of the company’s stock valued at $407,000 after purchasing an additional 595 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in shares of Toast by 14.4% during the second quarter. Elevation Wealth Partners LLC now owns 16,756 shares of the company’s stock worth $466,000 after purchasing an additional 2,113 shares during the last quarter. Finally, PensionDanmark Pensionsforsikringsaktieselskab lifted its position in shares of Toast by 11.2% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 85,660 shares of the company’s stock worth $2,383,000 after purchasing an additional 8,600 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

More 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

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.