Jonathan Vassil Sells 6,647 Shares of Toast (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) CRO Jonathan Vassil sold 6,647 shares of Toast stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $191,765.95. Following the transaction, the executive owned 69,966 shares in the company, valued at approximately $2,018,519.10. This represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Toast Stock Up 2.5%

TOST traded up $0.72 during trading hours on Monday, hitting $29.54. 9,912,000 shares of the company’s stock were exchanged, compared to its average volume of 12,091,836. The stock’s 50-day moving average is $25.64 and its two-hundred day moving average is $28.66. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $49.66. The stock has a market cap of $15.24 billion, a price-to-earnings ratio of 45.45 and a beta of 1.74.

Analysts Set New Price Targets

A number of research analysts have commented on TOST shares. Citigroup decreased their price objective on Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Oppenheimer restated an “outperform” rating and set a $36.00 price objective on shares of Toast in a research report on Friday, May 8th. Morgan Stanley set a $45.00 price target on shares of Toast in a research note on Friday, May 8th. Rothschild & Co Redburn reiterated a “neutral” rating and set a $35.00 price objective on shares of Toast in a research report on Tuesday, May 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Toast in a research report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.62.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Capital International Investors raised its position in shares of Toast by 7.4% in the 3rd quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock worth $1,768,256,000 after acquiring an additional 3,351,545 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Toast by 843.0% during the fourth quarter. Nordea Investment Management AB now owns 1,307,158 shares of the company’s stock valued at $46,888,000 after purchasing an additional 1,168,539 shares during the period. Victory Capital Management Inc. grew its stake in shares of Toast by 207.8% in the 3rd quarter. Victory Capital Management Inc. now owns 777,861 shares of the company’s stock valued at $28,400,000 after buying an additional 525,159 shares during the period. Dynamic Technology Lab Private Ltd increased its position in Toast by 227.8% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 69,655 shares of the company’s stock valued at $2,543,000 after buying an additional 48,405 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Toast by 285.3% during the fourth quarter. SG Americas Securities LLC now owns 288,286 shares of the company’s stock worth $10,237,000 after purchasing an additional 213,459 shares during the period. Institutional investors 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.