Toast, Inc. (NYSE:TOST) Stock Position Lowered by SP Asset Management LLC

SP Asset Management LLC trimmed its holdings in shares of Toast, Inc. (NYSE:TOST) by 20.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,802 shares of the company’s stock after selling 2,000 shares during the period. SP Asset Management LLC’s holdings in Toast were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. FMR LLC raised its position in Toast by 50.5% during the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after buying an additional 8,205,053 shares during the period. ValueAct Holdings L.P. acquired a new stake in Toast during the third quarter valued at $438,301,000. State Street Corp increased its position in Toast by 2.5% during the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after buying an additional 206,789 shares during the last quarter. Geode Capital Management LLC increased its position in Toast by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after buying an additional 155,212 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Toast by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock worth $107,108,000 after buying an additional 155,446 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. BMO Capital Markets lifted their price target on Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods raised their price target on shares of Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. raised their price target on shares of Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Compass Point started coverage on shares of Toast in a research report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Toast in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Toast presently has a consensus rating of “Hold” and a consensus target price of $40.48.

Toast Stock Up 3.8 %

Shares of Toast stock opened at $36.53 on Thursday. The stock has a market capitalization of $18.04 billion, a P/E ratio of -3,648.85, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. The company has a 50-day simple moving average of $38.53 and a 200 day simple moving average of $34.21. Toast, Inc. has a 12-month low of $21.32 and a 12-month high of $44.12.

Toast (NYSE:TOST) last announced its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. On average, equities analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Brian R. Elworthy sold 653 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the sale, the general counsel now directly owns 209,206 shares in the company, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Stephen Fredette sold 1,068 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $42,324.84. Following the sale, the president now owns 1,644,656 shares in the company, valued at $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 149,779 shares of company stock worth $5,415,192 in the last three months. Insiders own 13.32% of the company’s stock.

Toast Profile

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.