Insider Selling: Toast, Inc. (NYSE:TOST) Major Shareholder Sells 3,600,000 Shares of Stock
Toast, Inc. (NYSE:TOST – Get Rating) major shareholder Technology Investment Dining G sold 3,600,000 shares of the business’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $14.23, for a total transaction of $51,228,000.00. Following the sale, the insider now owns 11,007,825 shares in the company, valued at $156,641,349.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Technology Investment Dining G also recently made the following trade(s):
- On Thursday, May 19th, Technology Investment Dining G sold 3,600,000 shares of Toast stock. The stock was sold at an average price of $14.00, for a total value of $50,400,000.00.
- On Monday, May 16th, Technology Investment Dining G sold 945,536 shares of Toast stock. The stock was sold at an average price of $14.29, for a total value of $13,511,709.44.
- On Thursday, May 12th, Technology Investment Dining G sold 3,096,741 shares of Toast stock. The stock was sold at an average price of $14.12, for a total value of $43,725,982.92.
Shares of TOST stock traded up $0.88 during trading hours on Friday, hitting $16.52. The stock had a trading volume of 4,242,897 shares, compared to its average volume of 5,043,315. Toast, Inc. has a twelve month low of $11.91 and a twelve month high of $69.93. The stock’s 50 day moving average is $18.17 and its 200 day moving average is $26.02.
TOST has been the subject of a number of analyst reports. Sanford C. Bernstein initiated coverage on Toast in a research report on Tuesday, March 22nd. They set a “market perform” rating and a $19.00 price objective for the company. Moffett Nathanson assumed coverage on Toast in a research report on Tuesday, April 5th. They set a “sell” rating and a $19.00 price objective for the company. Canaccord Genuity Group lowered their price target on Toast from $34.00 to $25.00 in a report on Friday, May 13th. Wells Fargo & Company assumed coverage on Toast in a report on Monday, April 4th. They issued an “overweight” rating and a $29.00 price target for the company. Finally, Needham & Company LLC lowered their price target on Toast from $38.00 to $21.00 in a report on Friday, May 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Toast presently has a consensus rating of “Buy” and an average price target of $31.33.
Several institutional investors have recently added to or reduced their stakes in TOST. Raymond James & Associates purchased a new stake in shares of Toast during the third quarter worth approximately $364,000. Advisor Group Holdings Inc. purchased a new stake in shares of Toast during the third quarter worth approximately $41,000. BlackRock Inc. purchased a new position in Toast in the third quarter worth $95,717,000. Teacher Retirement System of Texas purchased a new position in Toast in the third quarter worth $500,000. Finally, Alliancebernstein L.P. purchased a new position in Toast in the third quarter worth $216,000. Institutional investors and hedge funds own 38.86% of the company’s stock.
About Toast (Get Rating)
Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.
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