Bank of Montreal Can Sells 4,249 Shares of Toast, Inc. (NYSE:TOST)

Bank of Montreal Can decreased its position in Toast, Inc. (NYSE:TOST) by 6.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,611 shares of the company’s stock after selling 4,249 shares during the quarter. Bank of Montreal Can’s holdings in Toast were worth $1,594,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in shares of Toast in the first quarter valued at approximately $5,078,000. Syon Capital LLC acquired a new stake in shares of Toast in the fourth quarter worth $377,000. WoodTrust Financial Corp acquired a new stake in shares of Toast in the first quarter worth $754,000. QRG Capital Management Inc. grew its stake in shares of Toast by 39.7% in the second quarter. QRG Capital Management Inc. now owns 84,967 shares of the company’s stock worth $2,190,000 after acquiring an additional 24,164 shares during the last quarter. Finally, Integrated Advisors Network LLC acquired a new stake in shares of Toast in the fourth quarter worth $186,000. Institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wedbush upgraded shares of Toast to a “strong-buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. raised their price objective on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Mizuho upgraded shares of Toast from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $21.00 to $33.00 in a research note on Thursday, July 18th. The Goldman Sachs Group restated a “buy” rating and issued a $29.00 price objective on shares of Toast in a research note on Thursday, September 12th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $27.00 price target on shares of Toast in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Toast currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

Insider Activity at Toast

In related news, President Stephen Fredette sold 5,511 shares of Toast stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total value of $153,040.47. Following the completion of the transaction, the president now directly owns 1,841,468 shares of the company’s stock, valued at $51,137,566.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Toast news, President Stephen Fredette sold 5,511 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $153,040.47. Following the completion of the sale, the president now directly owns 1,841,468 shares of the company’s stock, valued at approximately $51,137,566.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $25.55, for a total value of $2,555,000.00. Following the sale, the executive now directly owns 31,919 shares of the company’s stock, valued at $815,530.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 990,794 shares of company stock valued at $25,771,991 over the last ninety days. 13.32% of the stock is owned by insiders.

Toast Stock Up 3.2 %

Toast stock opened at $28.77 on Friday. The stock has a 50-day simple moving average of $25.39 and a 200 day simple moving average of $24.82. Toast, Inc. has a 12-month low of $13.77 and a 12-month high of $29.92. The stock has a market capitalization of $13.26 billion, a price-to-earnings ratio of -57.54 and a beta of 1.76.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the business posted ($0.19) earnings per share. The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Toast, Inc. will post -0.1 EPS for the current year.

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.