Cibc World Markets Corp Sells 3,386 Shares of Toast, Inc. (NYSE:TOST)

Cibc World Markets Corp lowered its position in shares of Toast, Inc. (NYSE:TOST) by 16.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,732 shares of the company’s stock after selling 3,386 shares during the period. Cibc World Markets Corp’s holdings in Toast were worth $646,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. grew its position in Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after acquiring an additional 378 shares during the last quarter. Piscataqua Savings Bank bought a new stake in Toast during the 4th quarter worth $26,000. Stonebridge Financial Group LLC bought a new stake in Toast during the 4th quarter worth $34,000. SBI Securities Co. Ltd. bought a new stake in Toast during the 4th quarter worth $35,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Toast during the 4th quarter worth $40,000. Institutional investors own 82.91% of the company’s stock.

Toast Price Performance

Shares of Toast stock opened at $35.20 on Friday. Toast, Inc. has a one year low of $21.32 and a one year high of $44.12. The firm has a market capitalization of $17.39 billion, a price-to-earnings ratio of -3,516.78, a PEG ratio of 2.16 and a beta of 1.99. The business has a 50-day simple moving average of $37.82 and a 200 day simple moving average of $35.07.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TOST shares. UBS Group boosted their price objective on Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Robert W. Baird lifted their target price on Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Keefe, Bruyette & Woods lifted their target price on Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Toast in a report on Thursday, February 20th. Finally, Oppenheimer assumed coverage on Toast in a report on Friday, January 24th. They set an “outperform” rating and a $46.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.48.

Insiders Place Their Bets

In other Toast news, CFO Elena Gomez sold 2,052 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $81,320.76. Following the completion of the sale, the chief financial officer now directly owns 160,498 shares of the company’s stock, valued at approximately $6,360,535.74. The trade was a 1.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the sale, the general counsel now directly owns 209,206 shares of the company’s stock, valued at $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 270,770 shares of company stock valued at $9,409,211. Corporate insiders own 13.32% of the company’s stock.

About Toast

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.