Toast, Inc. (NYSE:TOST) Position Trimmed by Cwm LLC

Cwm LLC trimmed its stake in Toast, Inc. (NYSE:TOST) by 45.2% in the third quarter, Holdings Channel.com reports. The firm owned 4,921 shares of the company’s stock after selling 4,064 shares during the quarter. Cwm LLC’s holdings in Toast were worth $139,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TOST. West Branch Capital LLC acquired a new stake in Toast during the second quarter valued at $26,000. LRI Investments LLC acquired a new stake in shares of Toast during the 1st quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Toast during the 2nd quarter valued at about $33,000. 1620 Investment Advisors Inc. bought a new stake in shares of Toast in the 2nd quarter valued at approximately $34,000. Finally, Whittier Trust Co. increased its holdings in Toast by 63.7% in the second quarter. Whittier Trust Co. now owns 2,279 shares of the company’s stock worth $59,000 after buying an additional 887 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on TOST shares. The Goldman Sachs Group lifted their target price on shares of Toast from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective on shares of Toast in a report on Wednesday, August 7th. Royal Bank of Canada restated a “sector perform” rating and set a $27.00 target price on shares of Toast in a report on Wednesday, August 7th. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $21.00 to $33.00 in a research note on Thursday, July 18th. Finally, Morgan Stanley increased their price objective on Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Toast has a consensus rating of “Moderate Buy” and a consensus target price of $28.94.

Insider Activity at Toast

In related news, General Counsel Brian R. Elworthy sold 300,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the transaction, the general counsel now directly owns 177,836 shares in the company, valued at $5,404,436.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, President Stephen Fredette sold 1,127 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $27,048.00. Following the completion of the transaction, the president now directly owns 2,849,709 shares of the company’s stock, valued at $68,393,016. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the transaction, the general counsel now directly owns 177,836 shares of the company’s stock, valued at $5,404,436.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,387,269 shares of company stock worth $38,394,140. Company insiders own 13.32% of the company’s stock.

Toast Trading Up 2.7 %

Shares of Toast stock opened at $30.03 on Friday. Toast, Inc. has a 1 year low of $13.77 and a 1 year high of $30.70. The company’s fifty day simple moving average is $26.66 and its 200-day simple moving average is $25.33. The company has a market cap of $13.84 billion, a price-to-earnings ratio of -103.55 and a beta of 1.76.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the firm earned ($0.19) EPS. The business’s revenue was up 27.0% on a year-over-year basis. As a group, research analysts forecast that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

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.