Toast Inc. (NYSE:TOST) Chief Revenue Officer Jonathan Vassil recently engaged in significant trading activity involving the company's shares, according to a new SEC filing. On March 13, 2024, Vassil executed a sale of 100,000 shares of Class A Common Stock at prices ranging from $24.755 to $25.53, resulting in a total transaction value of approximately $2,523,900.
The sale was conducted under a prearranged 10b5-1 trading plan, a tool that allows insiders to sell shares at predetermined times to avoid accusations of insider trading. This plan was adopted by Vassil on December 14, 2023. The weighted average price for the shares sold was $25.239.
In addition to the sale, the Chief Revenue Officer also acquired 100,000 shares of Class A Common Stock at a price of $0.52 per share, amounting to a total of $52,000. This acquisition was part of an option exercise, which is fully vested as of the transaction date.
Following these transactions, Vassil's direct ownership in non-derivative securities of Toast, Inc. decreased to 22,956 shares. Meanwhile, his derivative securities, in the form of stock options, post-transaction amounted to 297,211 shares, with the options set to expire on September 26, 2027.
Investors and market watchers often scrutinize Form 4 filings to gauge the confidence level of company insiders in the stock's performance, as these transactions can provide insights into their expectations for the company's future. Toast, Inc., based in Boston, operates in the computer processing and data preparation sector and is known for its technology solutions in the restaurant industry.
InvestingPro Insights
As Toast Inc. (NYSE:TOST) navigates through the fiscal year, recent data from InvestingPro provides a deeper look into the company's financial health and market performance. The company boasts a robust market capitalization of $13.75 billion, reflecting investor confidence and the scale of its operations in the tech solutions space for restaurants. Despite not having a current P/E ratio due to lack of profitability, the adjusted P/E ratio for the last twelve months as of Q4 2023 stands at -53.86, indicating that investors may be anticipating future earnings growth.
On the growth front, Toast Inc. has demonstrated impressive revenue growth of 41.52% over the last twelve months as of Q4 2023, with a quarterly growth rate of 34.9%, underscoring the company's expanding market presence. However, the company's gross profit margins remain a point of concern, with a margin of 21.71%, which is relatively low and may indicate pricing pressure or higher costs relative to sales.
InvestingPro Tips highlight that Toast Inc. is expected to see net income growth this year, which could signal a turnaround from previous performance. Additionally, two analysts have revised their earnings upwards for the upcoming period, suggesting a positive outlook on the company's financial prospects. In terms of market performance, Toast Inc. has experienced a strong return over the last three months, with a price total return of 45.53%. This could reflect growing investor optimism about the company's trajectory.
For investors looking for more in-depth analysis, there are additional InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/TOST. Utilize the coupon code PRONEWS24 to receive an extra 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to a comprehensive set of insights that could inform investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.