Corient Private Wealth LLC Cuts Stock Position in Toast, Inc. (NYSE:TOST)

Corient Private Wealth LLC cut its holdings in Toast, Inc. (NYSE:TOST) by 30.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,860 shares of the company’s stock after selling 4,857 shares during the quarter. Corient Private Wealth LLC’s holdings in Toast were worth $396,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TOST. Blue Trust Inc. lifted its position in shares of Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after buying an additional 378 shares in the last quarter. Piscataqua Savings Bank purchased a new position in Toast in the fourth quarter worth approximately $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of Toast in the 4th quarter valued at approximately $34,000. SBI Securities Co. Ltd. acquired a new position in shares of Toast in the fourth quarter valued at approximately $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Toast in the 4th quarter valued at approximately $40,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Toast in a research report on Thursday, February 20th. DA Davidson restated a “neutral” rating and set a $38.00 target price (down previously from $44.00) on shares of Toast in a research report on Thursday, December 5th. Royal Bank of Canada upped their price objective on Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Canaccord Genuity Group increased their price target on Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company raised their target price on shares of Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $40.48.

Toast Trading Down 5.2 %

TOST stock opened at $33.53 on Monday. The firm has a market cap of $16.56 billion, a PE ratio of -3,349.25, a PEG 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 company has a fifty day simple moving average of $37.72 and a 200 day simple moving average of $35.48.

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

Insider Buying and Selling

In related news, President Stephen Fredette sold 70,340 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the completion of the transaction, the president now directly owns 1,574,316 shares in the company, valued at $53,322,082.92. This represents a 4.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the sale, the general counsel now owns 209,206 shares in the company, valued at $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 270,770 shares of company stock valued at $9,409,211. Company insiders own 13.32% of the company’s stock.

About Toast

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.