Diversified Trust Co Decreases Stock Position in Toast, Inc. (NYSE:TOST)

Diversified Trust Co trimmed its holdings in shares of Toast, Inc. (NYSE:TOST) by 21.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,518 shares of the company’s stock after selling 9,939 shares during the period. Diversified Trust Co’s holdings in Toast were worth $1,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of TOST. Seven Eight Capital LP lifted its holdings in Toast by 88.8% during the 4th quarter. Seven Eight Capital LP now owns 35,632 shares of the company’s stock worth $651,000 after buying an additional 16,755 shares during the last quarter. Alta Park Capital LP purchased a new stake in Toast during the 4th quarter worth about $14,647,000. Abdiel Capital Advisors LP lifted its holdings in Toast by 0.3% during the 4th quarter. Abdiel Capital Advisors LP now owns 10,913,464 shares of the company’s stock worth $199,280,000 after buying an additional 37,091 shares during the last quarter. Bridgefront Capital LLC purchased a new stake in Toast during the 4th quarter worth about $463,000. Finally, Berylson Capital Partners LLC lifted its holdings in Toast by 86.0% during the 4th quarter. Berylson Capital Partners LLC now owns 209,600 shares of the company’s stock worth $3,827,000 after buying an additional 96,900 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 brokerages have issued reports on TOST. Morgan Stanley lifted their price target on Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $30.00 target price on shares of Toast in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $27.00 target price on shares of Toast in a research report on Wednesday, August 7th. Finally, Wedbush upgraded Toast to a “strong-buy” rating in a research report on Friday, September 6th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

Toast Stock Performance

Shares of TOST stock opened at $28.81 on Wednesday. The stock’s 50-day moving average price is $25.49 and its 200 day moving average price is $24.91. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $29.92.

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

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 181,304 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $28.56, for a total transaction of $5,178,042.24. Following the transaction, the president now owns 1,897,378 shares in the company, valued at approximately $54,189,115.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, President Stephen Fredette sold 181,304 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $28.56, for a total transaction of $5,178,042.24. Following the sale, the president now owns 1,897,378 shares of the company’s stock, valued at $54,189,115.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $815,530.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 990,794 shares of company stock worth $25,771,991. Company insiders own 13.32% of the company’s stock.

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.