BOSTON – Elena Gomez, President and Chief Financial Officer of Toast, Inc. (NASDAQ:TOST), executed a transaction involving the sale of 11,605 shares of the company's Class A Common Stock on July 2, 2026. The transaction totaled approximately $334,792, calculated at a price of $28.849 per share. According to the filing, these shares were sold to cover tax withholding obligations in connection with the vesting and settlement of Restricted Stock Units (RSUs). The filing explicitly notes that this transaction did not represent a discretionary trade by Ms. Gomez. Following the sale, Ms. Gomez directly owns 185,150 shares of Toast's Class A Common Stock.
Before the sale, on July 1, 2026, Ms. Gomez acquired a total of 23,691 shares of Class A Common Stock through the vesting and settlement of various tranches of Restricted Stock Units. These RSUs convert into Class A Common Stock on a one-for-one basis upon vesting. The vesting events included 6,330 shares, 6,316 shares, 4,716 shares, and 6,329 shares from RSUs that began vesting in quarterly installments following April 1, 2023, April 1, 2024, April 1, 2025, and April 1, 2026, respectively.
The sale comes as Toast shares trade at $29.50, with the company maintaining a market capitalization of $17.21 billion. According to InvestingPro analysis, the stock appears undervalued at current levels, with the company earning a "GREAT" financial health score of 3.17. Toast has demonstrated strong fundamentals with 23% revenue growth and profitability over the last twelve months. For deeper insights into Toast's valuation and access to exclusive ProTips, visit InvestingPro.
In other recent news, Toast Inc. has been added to the S&P MidCap 400, replacing TopBuild Corp. This change follows the announcement of QXO Inc.'s acquisition of TopBuild, which is expected to finalize soon. At its annual meeting, Toast shareholders elected Kent Bennett, Susan Chapman-Hughes, and Mark Hawkins as Class II directors for three-year terms. Additionally, BMO Capital reiterated its Outperform rating on Toast, setting a price target of $35, and noted that the company's memory chip cost pressures are viewed as cyclical.
In contrast, DA Davidson lowered its price target for Toast to $28, citing concerns over guidance, though the firm maintained a Neutral rating. Despite this, Toast's first-quarter results showed a Non-GAAP FinTech & Subscription gross profit and adjusted EBITDA exceeding DA Davidson's forecasts by 4% and 7%, respectively. These developments come as Toast navigates its position in the market amid varying analyst perspectives.
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