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BOSTON— Toast , Inc. (NYSE:TOST), a restaurant technology company now valued at $24.76 billion, has seen its stock surge 60% over the past year. Director Kent Bennett recently filed a Form 4 with the Securities and Exchange Commission, indicating a series of transactions involving the company’s Class A Common Stock. According to the filing, Bennett reported no monetary value for the transactions conducted on May 20, 2025. InvestingPro analysis shows the company maintains a GOOD financial health score, supported by strong revenue growth of 27% year-over-year.
The transactions included a conversion and distribution of shares involving the Bessemer Venture Partners IX, L.P. and Bessemer Venture Partners IX Institutional, L.P., collectively referred to as the Bessemer IX Funds. A total of 5,066,396 shares were distributed for no consideration to limited partners and Deer IX L.P., with further distributions made to members and partners in a pro-rata manner. Get deeper insights into Toast’s ownership structure and 11 additional key metrics with a InvestingPro subscription.
Bennett, a partner at Bessemer Venture Partners, holds an indirect, passive economic interest in the shares managed by the Bessemer IX Funds. However, he disclaims beneficial ownership of the securities, except for his pecuniary interest, if any, in these shares.
After these transactions, Bennett’s direct holdings in Toast, Inc. amounted to 543,879 shares. This includes shares received through equity grants and distributions from the Bessemer IX Funds and Deer IX, which were conducted under exemptions provided by the Securities Exchange Act of 1934.
In other recent news, Toast Inc. reported first-quarter results that exceeded expectations, with its Non-GAAP FinTech & Subscription gross profit surpassing DA Davidson’s forecast by 7% and adjusted EBITDA exceeding projections by 28%. Following these results, Toast raised its financial guidance, prompting DA Davidson to adjust its forecasts upward, although the firm maintained a neutral rating with a $40 price target. Meanwhile, BMO Capital Markets increased its price target for Toast to $45, citing strong execution and an impressive first-quarter performance that led to raised guidance for 2025. Piper Sandler also revised its price target from $35 to $37, acknowledging Toast’s upgraded FY25 EBITDA margin forecast and successful enterprise client acquisitions, such as Topgolf and Applebee’s.
Additionally, Keefe, Bruyette & Woods (KBW) raised their price target to $42, noting Toast’s resilience amid macroeconomic challenges and its robust quarterly performance. Evercore ISI increased its price target to $34 while maintaining an In Line rating, emphasizing Toast’s ability to navigate macroeconomic pressures and its optimistic outlook for new location additions. Despite varying ratings, these developments collectively highlight Toast’s recent financial achievements and strategic advancements. These updates reflect a period of positive momentum for Toast Inc., as seen through the lens of multiple financial firms.
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