Toast Stock Falls as Investors Appear to Take Profits After Recent Run-Up

Toast, Inc. (TOST) is down 4.4% today. Here is some analysis on what might have caused this price movement.

Analysis: There does not appear to be a single new company announcement driving the drop, so the move looks more like a pullback after a strong post-earnings rally. This could be because investors are locking in gains following Toast’s August 4, 2026 results, while recent insider selling may also be adding pressure to sentiment even though those sales were made under prearranged trading plans. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1650164/000165016426000162/tost-20260630xexhibit991.htm))

Details:

Toast’s second-quarter 2026 results showed strong operating momentum, including higher annualized recurring run-rate, record net new locations, and improved profitability. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1650164/000165016426000162/tost-20260630xexhibit991.htm))

The company raised its full-year 2026 outlook for recurring gross profit and adjusted EBITDA, but also said it would reinvest a one-time tariff refund benefit rather than let that flow through more fully. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1650164/000165016426000162/tost-20260630xexhibit991.htm))

Shares had already climbed notably in the weeks after earnings, which can set up a profit-taking move when no fresh catalyst arrives. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1650164/000165016426000162/tost-20260630xexhibit991.htm))

August insider filings showed sales by senior executives, including the chief revenue officer, under Rule 10b5-1 plans, which can weigh on near-term trading sentiment even when routine. ([stocktitan.net](https://www.stocktitan.net/sec-filings/TOST/?utm_source=openai))

Sources:

SEC, Toast Investor Relations, MarketBeat

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$TOST Insider Trading Activity

$TOST insiders have traded $TOST stock on the open market 32 times in the past 6 months. Of those trades, 0 have been purchases and 32 have been sales.

Here’s a breakdown of recent trading of $TOST stock by insiders over the last 6 months:

AMAN NARANG (CEO) has made 0 purchases and 7 sales selling 327,828 shares for an estimated $11,354,833.
JONATHAN VASSIL (Chief Revenue Officer) has made 0 purchases and 10 sales selling 159,393 shares for an estimated $5,528,412.
BRIAN R ELWORTHY (General Counsel) has made 0 purchases and 4 sales selling 118,016 shares for an estimated $3,075,227.
ELENA GOMEZ (President, CFO) has made 0 purchases and 7 sales selling 45,534 shares for an estimated $1,450,732.
STEPHEN FREDETTE (President) has made 0 purchases and 2 sales selling 16,435 shares for an estimated $454,729.
SUSAN CHAPMAN-HUGHES sold 8,500 shares for an estimated $246,245
ROSSANA NIOLA (Principal Accounting Officer) sold 2,298 shares for an estimated $76,858

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$TOST Hedge Fund Activity

We have seen 420 institutional investors add shares of $TOST stock to their portfolio, and 468 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

BLACKROCK, INC. added 21,581,067 shares (+79.4%) to their portfolio in Q2 2026, for an estimated $600,385,283
JPMORGAN CHASE & CO added 16,843,519 shares (+inf%) to their portfolio in Q2 2026, for an estimated $468,586,698
ALLIANCEBERNSTEIN L.P. removed 7,277,957 shares (-40.0%) from their portfolio in Q2 2026, for an estimated $202,472,763
PRINCIPAL FINANCIAL GROUP INC added 7,186,780 shares (+90.1%) to their portfolio in Q2 2026, for an estimated $199,936,219
STATE STREET CORP added 6,741,485 shares (+66.4%) to their portfolio in Q2 2026, for an estimated $187,548,112
CITADEL ADVISORS LLC added 6,343,414 shares (+1212.9%) to their portfolio in Q2 2026, for an estimated $176,473,777
BALYASNY ASSET MANAGEMENT L.P. added 4,905,300 shares (+220.8%) to their portfolio in Q2 2026, for an estimated $136,465,446

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$TOST Congressional Stock Trading

Members of Congress have traded $TOST stock 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $TOST stock by members of Congress over the last 6 months:

REPRESENTATIVE THOMAS H. KEAN, JR. purchased up to $15,000 on 07/08.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$TOST Price Targets

Multiple analysts have issued price targets for $TOST recently. We have seen 12 analysts offer price targets for $TOST in the last 6 months, with a median target of $34.5.

Here are some recent targets:

Will Nance from Goldman Sachs set a target price of $36.0 on 07/09/2026
David Koning from Baird set a target price of $33.0 on 07/08/2026
Nik Cremo from Barclays set a target price of $35.0 on 07/08/2026
Billy Fitzsimmons from Piper Sandler set a target price of $32.0 on 06/11/2026
Dominic Ball from Rothschild & Co set a target price of $35.0 on 05/12/2026
Matthew Coad from Truist Securities set a target price of $30.0 on 05/12/2026
Dan Dolev from Mizuho set a target price of $38.0 on 05/12/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.