Toast Insiders Sell US$2.9m Of Stock, Possibly Signalling Caution
Toast Insiders Sell US$2.9m Of Stock, Possibly Signalling Caution
Over the past year, many Toast, Inc. (NYSE:TOST) insiders sold a significant stake in the company which may have piqued investors' interest. When analyzing insider transactions, it is usually more valuable to know whether insiders are buying versus knowing if they are selling, as the latter sends an ambiguous message. However, if numerous insiders are selling, shareholders should investigate more.
在過去的一年中，許多Toast, Inc.（紐約證券交易所代碼：TOST）內部人士出售了該公司的大量股份，這可能激起了投資者的興趣。在分析內幕交易時，了解內部人士是否在買入通常比知道他們是否在賣出更有價值，因爲後者發出的信息模棱兩可。但是，如果有許多內部人士出售，股東應該進行更多調查。
While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we would consider it foolish to ignore insider transactions altogether.
儘管我們絕不會建議投資者僅根據公司董事的所作所爲做出決定，但我們認爲完全忽視內幕交易是愚蠢的。
The Last 12 Months Of Insider Transactions At Toast
Toast 過去 12 個月的內幕交易
Over the last year, we can see that the biggest insider sale was by the Independent Chairperson & Lead Independent Director, Mark Hawkins, for US$1.1m worth of shares, at about US$20.95 per share. So it's clear an insider wanted to take some cash off the table, even below the current price of US$22.75. When an insider sells below the current price, it suggests that they considered that lower price to be fair. That makes us wonder what they think of the (higher) recent valuation. Please do note, however, that sellers may have a variety of reasons for selling, so we don't know for sure what they think of the stock price. We note that the biggest single sale was only 45% of Mark Hawkins's holding.
在過去的一年中，我們可以看到，最大的內幕出售是獨立主席兼首席獨立董事馬克·霍金斯，出售了價值110萬美元的股票，每股約20.95美元。因此，很明顯，一位內部人士想從桌上提取一些現金，甚至低於目前的22.75美元價格。當內部人士以低於當前價格的價格出售時，這表明他們認爲較低的價格是公平的。這讓我們想知道他們如何看待最近（更高的）估值。但是，請注意，賣家可能有各種各樣的賣出原因，因此我們不確定他們對股價的看法。我們注意到，最大的單筆銷售僅爲馬克·霍金斯持股的45％。
Insiders in Toast didn't buy any shares in the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
去年，Toast的內部人士沒有購買任何股票。你可以在下面看到過去 12 個月的內幕交易（公司和個人）的直觀描述。通過點擊下面的圖表，你可以看到每筆內幕交易的確切細節！
If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. (Hint: insiders have been buying them).
如果你喜歡買內部人士買入而不是賣出的股票，那麼你可能會喜歡這份免費的公司名單。（提示：業內人士一直在購買它們）。
Insiders At Toast Have Sold Stock Recently
Toast 的內部人士最近出售了股票
The last quarter saw substantial insider selling of Toast shares. In total, insiders sold US$203k worth of shares in that time, and we didn't record any purchases whatsoever. Overall this makes us a bit cautious, but it's not the be all and end all.
上個季度，Toast股票出現了大量內幕拋售。在此期間，內部人士總共出售了價值20.3萬美元的股票，我們沒有記錄任何購買記錄。總的來說，這使我們有點謹慎，但這並不是萬能的。
Does Toast Boast High Insider Ownership?
Toast 擁有很高的內部所有權嗎？
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Toast insiders own 22% of the company, currently worth about US$2.7b based on the recent share price. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.
我喜歡看看內部人士在一家公司擁有多少股票，以幫助我了解他們與內部人士的看法。通常，內部人士的所有權越高，內部人士長期建立公司的可能性就越大。Toast內部人士擁有該公司22％的股份，根據最近的股價，目前價值約27億美元。我喜歡看到這種程度的內部所有權，因爲它增加了管理層考慮股東最大利益的機會。
What Might The Insider Transactions At Toast Tell Us?
Toast的內幕交易能告訴我們什麼？
Insiders haven't bought Toast stock in the last three months, but there was some selling. Looking to the last twelve months, our data doesn't show any insider buying. The company boasts high insider ownership, but we're a little hesitant, given the history of share sales. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. In terms of investment risks, we've identified 1 warning sign with Toast and understanding this should be part of your investment process.
內部人士在過去三個月中沒有買入Toast的股票，但出現了一些拋售。展望過去的十二個月，我們的數據並未顯示任何內幕買盤。該公司擁有很高的內部所有權，但考慮到股票銷售的歷史，我們有點猶豫。因此，這些內幕交易可以幫助我們建立有關股票的論點，但也值得了解這家公司面臨的風險。在投資風險方面，我們已經向Toast確定了1個警告信號，並知道這應該是您投資過程的一部分。
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
如果你想看看另一家公司——一家財務狀況可能優越的公司——那麼千萬不要錯過這份免費的股本回報率高、債務低的有趣公司的名單。
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.
就本文而言，內部人士是指向相關監管機構報告其交易的個人。我們目前只考慮公開市場交易和私下處置的直接利益，不包括衍生品交易或間接權益。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論，我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議，也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意，我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之，華爾街沒有持有任何上述股票的頭寸。
譯文內容由第三人軟體翻譯。