Toast, Inc. (NYSE:TOST) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its holdings in shares of Toast, Inc. (NYSE:TOST) by 92.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,724 shares of the company’s stock after selling 85,626 shares during the period. SG Americas Securities LLC’s holdings in Toast were worth $190,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of TOST. West Branch Capital LLC purchased a new stake in Toast in the 2nd quarter valued at approximately $26,000. LRI Investments LLC acquired a new stake in shares of Toast during the first quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Toast in the 2nd quarter valued at about $33,000. 1620 Investment Advisors Inc. purchased a new position in Toast in the 2nd quarter valued at about $34,000. Finally, Whittier Trust Co. boosted its stake in shares of Toast by 63.7% during the 2nd quarter. Whittier Trust Co. now owns 2,279 shares of the company’s stock worth $59,000 after purchasing an additional 887 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the general counsel now directly owns 177,836 shares in the company, valued at approximately $5,404,436.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Elena Gomez sold 2,162 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $51,888.00. Following the completion of the sale, the chief financial officer now directly owns 183,931 shares of the company’s stock, valued at $4,414,344. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $30.39, for a total value of $9,117,000.00. Following the sale, the general counsel now owns 177,836 shares in the company, valued at $5,404,436.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,387,269 shares of company stock worth $38,394,140 in the last three months. 13.32% of the stock is owned by insiders.

Toast Trading Down 0.4 %

Shares of TOST stock opened at $29.25 on Thursday. The firm has a fifty day simple moving average of $26.55 and a 200-day simple moving average of $25.29. The company has a market capitalization of $13.25 billion, a PE ratio of -58.50 and a beta of 1.76. Toast, Inc. has a twelve month low of $13.77 and a twelve month high of $30.70.

Toast (NYSE:TOST) last announced 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. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the firm earned ($0.19) earnings per share. The company’s revenue was up 27.0% on a year-over-year basis. Equities research analysts predict that Toast, Inc. will post -0.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TOST. Bank of America raised their target price on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Robert W. Baird increased their price objective on shares of Toast from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Wedbush upgraded shares of Toast to a “strong-buy” rating in a report on Friday, September 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $27.00 price target on shares of Toast in a report on Wednesday, August 7th. Finally, Stephens upped their price objective on Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.94.

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.