Director Bennett Richard Kent sold 100,000 shares of TOST at $36.67 for $3,667,000.00; stock now at $39.92 (+41.8% in 30 days)
Bennett Richard Kent, a director at Toast, executed 5 separate sales totaling 100,000 shares for $3,667,000.00 on and around November 12, 2024 at a blended average price of $36.67. The sale occurred against a backdrop of strong recent stock momentum: TOST has risen 41.8% over 30 days and 60.9% over 90 days, currently trading at $39.92. The company posted $1.3B in latest-quarter revenue with 41.5% annual revenue growth, though it was unprofitable over its most recent full fiscal year. The timing of the sale—while stock traded $3.25 below its current price and shortly after a 60.9% quarterly rally—raises questions about directional conviction at current valuations. The FLAG indicates this filing involves a derivative conversion; the director's actual post-transaction position in derivative securities is not yet available in the database, so this sale should not be characterized as a complete position exit.