Toast, Inc. (NYSE:TOST) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its position in shares of Toast, Inc. (NYSE:TOST) by 61.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,413 shares of the company’s stock after selling 60,534 shares during the period. Janney Montgomery Scott LLC’s holdings in Toast were worth $1,087,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. West Branch Capital LLC acquired a new stake in shares of Toast in the second quarter valued at $26,000. LRI Investments LLC acquired a new stake in shares of Toast in the first quarter valued at $27,000. Toth Financial Advisory Corp acquired a new stake in shares of Toast in the third quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Toast in the second quarter valued at $33,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Toast in the second quarter valued at $34,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TOST has been the topic of several research reports. Robert W. Baird raised their price objective on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Bank of America raised their price target on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Wells Fargo & Company lifted their price objective on Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a report on Friday, November 8th. The Goldman Sachs Group lifted their price objective on Toast from $29.00 to $33.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.75.

Toast Stock Performance

Toast stock opened at $40.61 on Friday. The stock has a market cap of $19.12 billion, a PE ratio of -312.35 and a beta of 1.74. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $41.05. The firm’s 50-day simple moving average is $29.75 and its 200 day simple moving average is $26.53.

Insider Activity at Toast

In other Toast news, CEO Aman Narang sold 10,106 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 968,095 shares in the company, valued at approximately $26,883,998.15. This represents a 1.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Fredette sold 211,686 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the transaction, the president now owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. The trade was a 7.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,575,651 shares of company stock valued at $45,472,212. Corporate insiders own 13.32% of the company’s stock.

Toast Company 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.