Ballentine Partners LLC Sells 323 Shares of Toast, Inc. (NYSE:TOST)

Ballentine Partners LLC trimmed its stake in shares of Toast, Inc. (NYSE:TOST) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,997 shares of the company’s stock after selling 323 shares during the period. Ballentine Partners LLC’s holdings in Toast were worth $255,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Toast by 50.5% in the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after purchasing an additional 8,205,053 shares during the last quarter. ValueAct Holdings L.P. acquired a new position in shares of Toast during the 3rd quarter worth about $438,301,000. State Street Corp grew its holdings in shares of Toast by 2.5% in the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company’s stock valued at $235,689,000 after acquiring an additional 206,789 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Toast by 2.3% in the third quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after acquiring an additional 155,212 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Toast by 2,889.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock worth $108,427,000 after acquiring an additional 3,701,893 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TOST shares. BNP Paribas cut Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Wednesday, November 20th. Oppenheimer began coverage on shares of Toast in a research note on Friday. They set an “outperform” rating and a $46.00 price objective on the stock. Royal Bank of Canada lifted their price target on Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Keefe, Bruyette & Woods raised their price objective on Toast from $29.00 to $40.00 and gave the company a “market perform” rating in a research report on Monday, December 9th. Finally, DA Davidson restated a “neutral” rating and issued a $38.00 price target (down previously from $44.00) on shares of Toast in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Toast presently has a consensus rating of “Hold” and a consensus target price of $35.74.

Insider Activity at Toast

In related news, Director Richard Kent Bennett sold 100,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $36.67, for a total value of $3,667,000.00. Following the transaction, the director now owns 418,591 shares in the company, valued at $15,349,731.97. The trade was a 19.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Yuan sold 189,785 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $43.01, for a total value of $8,162,652.85. Following the completion of the transaction, the director now directly owns 198,829 shares in the company, valued at $8,551,635.29. This represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 562,600 shares of company stock worth $21,823,932 over the last three months. Company insiders own 13.32% of the company’s stock.

Toast Stock Down 1.7 %

Shares of TOST stock opened at $39.33 on Friday. The firm has a market capitalization of $18.52 billion, a P/E ratio of -302.52, a P/E/G ratio of 2.05 and a beta of 1.97. Toast, Inc. has a twelve month low of $16.13 and a twelve month high of $44.12. The stock’s fifty day simple moving average is $38.83 and its 200 day simple moving average is $31.45.

Toast (NYSE:TOST) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the business earned ($0.09) EPS. As a group, equities research analysts expect that Toast, Inc. will post 0.03 EPS for the current fiscal year.

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.