Jonathan Vassil, the Chief Revenue Officer of Toast, Inc. (NYSE:TOST), has recently engaged in significant stock transactions, according to the latest filings with the Securities and Exchange Commission. On April 15, Vassil sold a total of 50,000 shares of Class A Common Stock at an average price of $0.52, totaling approximately $26,000.
In addition to these transactions, Vassil also sold 43,374 shares at weighted average prices ranging from $22.385 to $23.370, and another 6,626 shares at prices between $23.49 to $23.97. The combined sales amounted to over $1.1 million, with the larger sale fetching a total of approximately $988,265 and the smaller sale totaling approximately $157,000.
These sales were conducted under a Rule 10b5-1 trading plan, which Vassil adopted on December 14, 2023. Such plans allow company insiders to sell shares over a predetermined period of time, reducing the potential for accusations of trading on non-public information.
It's worth noting that these transactions do not necessarily indicate a lack of confidence in the company's future; executives may have various reasons for selling stock, including diversifying their investment portfolio or meeting personal financial objectives.
Investors and Toast Inc. stakeholders can request more detailed information about the specific prices at which the shares were sold within the reported range by contacting the company or the SEC.
Toast, Inc., headquartered in Boston, MA, operates within the computer processing and data preparation sector. The company's stock is publicly traded on the NYSE under the ticker symbol TOST.
InvestingPro Insights
Jonathan Vassil's recent stock transactions come at a time when Toast, Inc. (NYSE:TOST) is navigating a complex financial landscape. According to the latest data from InvestingPro, Toast boasts a robust market capitalization of $12.3 billion, reflecting significant investor interest and the company’s market presence. Despite not being profitable over the last twelve months, with an adjusted price-to-earnings (P/E) ratio of -50.68, analysts are predicting that the company will turn profitable this year, which could be a driving factor behind the stock's strong return over the last three months, showing a 32.86% price total return.
InvestingPro Tips suggest that while Toast suffers from weak gross profit margins, currently at 21.71%, the company's liquid assets exceed its short-term obligations, indicating a solid liquidity position. This financial health aspect could reassure investors about the company's ability to meet its immediate financial commitments. Furthermore, despite the volatility in stock price movements, Toast has experienced a large price uptick over the last six months, with a 21.63% price total return.
For those looking to delve deeper into Toast's financial metrics and gain more insights, there are additional InvestingPro Tips available at https://www.investing.com/pro/TOST. For a limited time, use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are a total of 10 InvestingPro Tips listed, offering a comprehensive analysis for those interested in Toast's financial outlook.
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