Ieq Capital LLC Has $8.69 Million Stock Position in Toast, Inc. (NYSE:TOST)

Ieq Capital LLC cut its holdings in Toast, Inc. (NYSE:TOST) by 66.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 238,356 shares of the company’s stock after selling 473,343 shares during the period. Ieq Capital LLC owned about 0.05% of Toast worth $8,688,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TOST. Blue Trust Inc. grew its position in Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after purchasing an additional 378 shares in the last quarter. Piscataqua Savings Bank acquired a new position in shares of Toast during the 4th quarter worth about $26,000. Stonebridge Financial Group LLC bought a new position in shares of Toast in the 4th quarter valued at about $34,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Toast in the fourth quarter valued at about $40,000. Finally, Raleigh Capital Management Inc. raised its holdings in Toast by 93.4% during the third quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock worth $42,000 after acquiring an additional 720 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Price Performance

Shares of NYSE TOST opened at $40.45 on Friday. The firm has a market cap of $19.05 billion, a price-to-earnings ratio of -311.12, a P/E/G ratio of 2.27 and a beta of 1.98. The stock’s fifty day moving average price is $38.60 and its two-hundred day moving average price is $33.35. Toast, Inc. has a one year low of $20.49 and a one year 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). Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. On average, equities analysts anticipate that Toast, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Toast

In other news, General Counsel Brian R. Elworthy sold 653 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the sale, the general counsel now owns 209,206 shares of the company’s stock, valued at approximately $8,290,833.78. This represents a 0.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David Yuan sold 189,785 shares of Toast stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the completion of the transaction, the director now directly owns 198,829 shares in the company, valued at $8,551,635.29. This trade represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 339,564 shares of company stock valued at $13,577,845 in the last quarter. Company insiders own 13.32% of the company’s stock.

Analyst Upgrades and Downgrades

TOST has been the subject of a number of analyst reports. Morgan Stanley raised their price target on Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Toast from $24.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Piper Sandler upped their price target on shares of Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Wells Fargo & Company increased their price target on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.23.

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.