Toast, Inc. (NYSE:TOST) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lessened its stake in shares of Toast, Inc. (NYSE:TOST) by 67.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,372 shares of the company’s stock after selling 80,728 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Toast were worth $719,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TOST. AE Wealth Management LLC raised its position in Toast by 248.9% in the third quarter. AE Wealth Management LLC now owns 73,425 shares of the company’s stock worth $1,375,000 after acquiring an additional 52,382 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Toast in the 3rd quarter worth approximately $2,040,000. Newbridge Financial Services Group Inc. acquired a new stake in Toast during the third quarter valued at approximately $45,000. Caprock Group LLC boosted its holdings in Toast by 13.1% during the third quarter. Caprock Group LLC now owns 12,208 shares of the company’s stock worth $229,000 after buying an additional 1,413 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in Toast in the third quarter worth approximately $999,000. Institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling

In other Toast news, insider James Michael Matlock sold 4,151 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $18.20, for a total transaction of $75,548.20. Following the sale, the insider now owns 39,733 shares of the company’s stock, valued at $723,140.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Stephen Fredette sold 2,272 shares of Toast stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $53,164.80. Following the completion of the sale, the president now owns 2,835,759 shares in the company, valued at approximately $66,356,760.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Michael Matlock sold 4,151 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $18.20, for a total transaction of $75,548.20. Following the transaction, the insider now directly owns 39,733 shares in the company, valued at $723,140.60. The disclosure for this sale can be found here. Insiders sold 414,486 shares of company stock valued at $8,662,487 over the last quarter. Insiders own 13.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TOST. Mizuho reiterated a “neutral” rating and set a $17.00 price objective on shares of Toast in a research report on Wednesday, March 27th. Evercore ISI started coverage on shares of Toast in a report on Monday, March 4th. They issued an “outperform” rating and a $32.00 price objective for the company. Keefe, Bruyette & Woods initiated coverage on Toast in a research report on Tuesday, April 9th. They set a “market perform” rating and a $25.00 target price for the company. Piper Sandler raised their price target on Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Finally, Wells Fargo & Company boosted their target price on shares of Toast from $15.00 to $17.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $24.32.

Toast Trading Up 0.2 %

NYSE TOST opened at $23.12 on Friday. The business’s 50-day moving average price is $23.25 and its two-hundred day moving average price is $19.16. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $27.00.

Toast (NYSE:TOST) last announced its earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the business posted ($0.19) earnings per share. The firm’s revenue was up 34.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Toast, Inc. will post -0.22 earnings per share 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.