Wealth Enhancement Advisory Services LLC Sells 8,666 Shares of Toast, Inc. (NYSE:TOST)

Wealth Enhancement Advisory Services LLC lessened its position in shares of Toast, Inc. (NYSE:TOST) by 31.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,038 shares of the company’s stock after selling 8,666 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Toast were worth $539,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TOST. Forsta AP Fonden bought a new position in shares of Toast in the 3rd quarter worth about $2,276,000. Ballentine Partners LLC acquired a new stake in Toast during the third quarter worth approximately $207,000. E. Ohman J or Asset Management AB bought a new stake in Toast in the third quarter worth approximately $493,000. Values First Advisors Inc. lifted its stake in Toast by 6.9% in the third quarter. Values First Advisors Inc. now owns 33,506 shares of the company’s stock valued at $949,000 after buying an additional 2,164 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Toast by 2,889.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock worth $108,427,000 after buying an additional 3,701,893 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

TOST has been the subject of several research analyst reports. Bank of America lifted their price objective on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $21.00 to $33.00 in a research note on Thursday, July 18th. The Goldman Sachs Group increased their price objective on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Royal Bank of Canada boosted their target price on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday. Finally, JPMorgan Chase & Co. increased their price target on Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $31.80.

Toast Stock Up 14.5 %

Toast stock opened at $37.40 on Friday. The stock has a market cap of $17.24 billion, a P/E ratio of -128.96 and a beta of 1.74. The company’s 50 day moving average price is $28.19 and its two-hundred day moving average price is $25.97. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $38.40.

Toast (NYSE:TOST) last announced its quarterly earnings data 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. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) EPS. On average, equities analysts anticipate that Toast, Inc. will post -0.1 EPS for the current year.

Insider Buying and Selling

In other Toast news, Director Christopher P. Comparato sold 100,000 shares of Toast stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $24.35, for a total value of $2,435,000.00. Following the sale, the director now owns 120,107 shares of the company’s stock, valued at approximately $2,924,605.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Toast news, Director Christopher P. Comparato sold 100,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $24.35, for a total value of $2,435,000.00. Following the completion of the sale, the director now directly owns 120,107 shares of the company’s stock, valued at $2,924,605.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the company’s stock in a transaction 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 transaction, the general counsel now directly owns 177,836 shares in the company, valued at $5,404,436.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,375,651 shares of company stock valued at $38,150,212. 13.32% of the stock is owned by insiders.

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.