This insider cluster is too small to be informative — $546K in sales against a $20.2B market cap is noise. The CRO's sale was paired with option exercises, consistent with routine tax-settlement or 10b5-1 plan activity. No actionable signal for traders. Monitor for larger-scale insider activity (>$20M in sales) or a cluster involving the CEO/CFO before drawing conclusions.
Price Chart
Executive Summary
Two Toast insiders — the Chief Revenue Officer and Principal Accounting Officer — sold a combined $546K in open-market sales over a two-day period. The CRO's sale was paired with option exercises, indicating a routine cashless exercise pattern rather than a purely opportunistic exit. Relative to Toast's $20.2B market cap, the cluster represents just 0.003% of equity, well below the 0.1% materiality threshold. The historical calibration for TOST shows a -4.29% average T+20 return on prior reports with a 33% win rate, suggesting the market has not rewarded directional calls on this name recently. The cross-filing actuarial verdicts flag multiple amplifier combos, but none of the specific cross-filing triggers (agreement, earnings, offering, restatement, late filing, press) are present in the provided context — only the insider trades themselves. This cluster is routine and non-informative at this scale.
Key Financial Metrics
Key Facts
- Two insiders sold a combined $546K in open-market sales (CRO $470K, PAO $77K)
- CRO's sale was part of a cashless exercise of 14,280 options at $2.21 strike — routine vesting/settlement pattern
- Total cluster value is 0.003% of Toast's $20.2B market cap — well below the 0.1% materiality threshold
- No 10b5-1 plan disclosure, but the CRO's paired exercise-and-sell is consistent with a pre-arranged plan
- Historical TOST reports show -4.29% avg T+20 return and 33% win rate — market has not rewarded directional calls
Financial Impact
Total insider sales of $546K represent 0.003% of $20.2B market cap — immaterial
Risk Factors
- Insider sales could accelerate if the stock continues to appreciate, but current volume is trivial
- No cross-filing context (earnings, M&A, offering) to amplify this cluster's signal
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-TOST-1786004211072 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 13, 2026 7w ago | Insider Cluster | $34.75 $33.29 | ▼ −4.20% | ▼ −2.21% | $29.78 (−14.29%) |
Aug 11, 2026 7w ago | Insider Cluster | $34.88 $32.45 | ▼ −6.97% | ▼ −5.91% | $29.78 (−14.61%) |
Aug 7, 2026 8w ago | Insider Cluster | $34.48 $33.95 | ▼ −1.54% | ▼ −1.14% | $29.78 (−13.62%) |
Aug 5, 2026 8w ago | Insider Cluster | $34.80 $34.04 | ▼ −2.18% | ▼ −1.58% | $29.78 (−14.41%) |
Jul 9, 2026 12w ago | Insider Cluster | $28.85 $34.72 | ▲ +20.35% | ▲ +18.11% | $29.78 (+3.24%) |
Jul 6, 2026 12w ago | Insider Cluster | $29.48 $32.27 | ▲ +9.46% | ▲ +10.03% | $29.78 (+1.03%) |
May 29, 2026 17w ago | 144 | $27.74 $27.82 | ▲ +0.29% | ▲ +1.59% | $29.78 (+7.37%) |
May 7, 2026 21w ago | 8-K | $25.05 $24.64 | ▼ −1.64% | ▼ −1.66% | $29.78 (+18.90%) |
Apr 2, 2026 26w ago | Insider Cluster | $26.47 $28.52 | ▼ −7.74% | ▲ +2.13% | $29.78 (−12.52%) |
Feb 28, 2026 30w ago | Institutional Cluster | $27.57 $26.06 | ▼ −5.48% | ▲ +2.46% | $29.78 (+8.03%) |
US Market Status
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