Commonwealth Equity Services LLC Trims Stake in Toast, Inc. (NYSE:TOST)

Commonwealth Equity Services LLC decreased its position in shares of Toast, Inc. (NYSE:TOST) by 2.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 137,771 shares of the company’s stock after selling 3,861 shares during the period. Commonwealth Equity Services LLC’s holdings in Toast were worth $5,022,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TOST. Blue Trust Inc. grew its holdings in shares of Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after acquiring an additional 378 shares during the period. Piscataqua Savings Bank purchased a new position in shares of Toast during the 4th quarter worth approximately $26,000. Stonebridge Financial Group LLC purchased a new position in shares of Toast during the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of Toast in the 4th quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Toast in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Price Performance

TOST stock opened at $35.20 on Friday. The company has a market cap of $17.39 billion, a P/E ratio of -3,516.78, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. Toast, Inc. has a 1 year low of $21.32 and a 1 year high of $44.12. The stock’s fifty day moving average price is $37.82 and its 200-day moving average price is $35.07.

Toast (NYSE:TOST) last released its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. As a group, analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TOST. BMO Capital Markets raised their price objective on Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. DA Davidson reaffirmed a “neutral” rating and set a $38.00 price objective (down previously from $44.00) on shares of Toast in a research report on Thursday, December 5th. Canaccord Genuity Group raised their price objective on Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. BNP Paribas set a $37.00 price objective on Toast and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company raised their price objective on Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $40.48.

Insider Activity at Toast

In related news, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $42,324.84. Following the transaction, the president now directly owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elena Gomez sold 2,052 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $81,320.76. Following the sale, the chief financial officer now directly owns 160,498 shares in the company, valued at approximately $6,360,535.74. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 270,770 shares of company stock worth $9,409,211. Corporate insiders own 13.32% of the company’s stock.

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.