Toast, Inc. (NYSE:TOST) Stock Position Cut by Cary Street Partners Asset Management LLC

Cary Street Partners Asset Management LLC trimmed its stake in shares of Toast, Inc. (NYSE:TOST) by 19.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,460 shares of the company’s stock after selling 3,000 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in Toast were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in TOST. Capital International Investors raised its position in Toast by 12.2% in the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after acquiring an additional 3,574,397 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Toast by 21.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after purchasing an additional 3,445,788 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Toast by 9.1% in the 1st quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock worth $248,611,000 after purchasing an additional 833,390 shares in the last quarter. Whale Rock Capital Management LLC acquired a new stake in Toast during the first quarter valued at approximately $179,111,000. Finally, Meritage Group LP grew its position in Toast by 37.3% in the first quarter. Meritage Group LP now owns 5,284,811 shares of the company’s stock worth $131,697,000 after buying an additional 1,436,494 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Aman Narang sold 10,106 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total value of $280,643.62. Following the completion of the sale, the chief executive officer now directly owns 968,095 shares in the company, valued at approximately $26,883,998.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Aman Narang sold 10,106 shares of Toast stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total value of $280,643.62. Following the transaction, the chief executive officer now owns 968,095 shares in the company, valued at $26,883,998.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Elena Gomez sold 1,917 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $59,580.36. Following the sale, the chief financial officer now owns 159,615 shares of the company’s stock, valued at $4,960,834.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,375,651 shares of company stock valued at $38,150,212. Insiders own 13.32% of the company’s stock.

Toast Stock Performance

Shares of TOST opened at $30.81 on Wednesday. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $31.57. The company’s fifty day moving average is $27.61 and its 200-day moving average is $25.77.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The business’s revenue was up 27.0% compared to the same quarter last year. During the same period last year, the company earned ($0.19) earnings per share. Analysts expect that Toast, Inc. will post -0.1 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TOST shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $27.00 price objective on shares of Toast in a research report on Wednesday, August 7th. DA Davidson upped their target price on Toast from $32.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. The Goldman Sachs Group boosted their price objective on Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Robert W. Baird raised their target price on shares of Toast from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, Stephens upped their price target on shares of Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.30.

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.