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 Toast stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $14.23, for a total transaction of $51,228,000.00. Following the completion of the sale, the insider now directly owns 11,007,825 shares in the company, valued at approximately $156,641,349.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 shares were sold at an average price of $14.00, for a total transaction of $50,400,000.00.
• On Monday, May 16th, Technology Investment Dining G sold 945,536 shares of Toast stock. The shares were sold at an average price of $14.29, for a total transaction of $13,511,709.44.
• On Thursday, May 12th, Technology Investment Dining G sold 3,096,741 shares of Toast stock. The shares were sold at an average price of $14.12, for a total transaction of $43,725,982.92.

Shares of TOST stock traded up $0.88 on Friday, hitting $16.52. 4,242,897 shares of the stock traded hands, compared to its average volume of 5,043,315. The firm’s 50-day moving average price is $18.17 and its two-hundred day moving average price is $26.02. Toast, Inc. has a twelve month low of $11.91 and a twelve month high of $69.93.

A number of equities research analysts recently issued reports on TOST shares. Needham & Company LLC dropped their price target on shares of Toast from $38.00 to $21.00 in a research note on Friday, May 13th. Canaccord Genuity Group lowered their target price on shares of Toast from $34.00 to $25.00 in a research note on Friday, May 13th. JPMorgan Chase & Co. lowered their target price on shares of Toast from $58.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 16th. KeyCorp lowered their target price on shares of Toast from $35.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, February 24th. Finally, Moffett Nathanson assumed coverage on shares of Toast in a research note on Tuesday, April 5th. They set a “sell” rating and a $19.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Toast presently has an average rating of “Buy” and a consensus target price of $31.33.

Hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new stake in Toast in the 3rd quarter valued at about $30,000. Evoke Wealth LLC purchased a new stake in Toast in the 4th quarter valued at about $32,000. AllSquare Wealth Management LLC purchased a new stake in Toast in the 3rd quarter valued at about $36,000. Advisor Group Holdings Inc. purchased a new stake in Toast in the 3rd quarter valued at about $41,000. Finally, IFP Advisors Inc raised its holdings in Toast by 129.3% in the 4th quarter. IFP Advisors Inc now owns 1,339 shares of the company’s stock valued at $47,000 after buying an additional 755 shares during the period. 38.86% of the stock is currently owned by hedge funds and other institutional investors.

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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