Toast, Inc. (NYSE:TOST) Shares Sold by Crestone Asset Management LLC

Crestone Asset Management LLC reduced its stake in shares of Toast, Inc. (NYSE:TOST) by 8.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,255 shares of the company’s stock after selling 5,848 shares during the period. Crestone Asset Management LLC’s holdings in Toast were worth $1,137,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Toast by 11.1% during the third quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock valued at $657,032,000 after buying an additional 3,494,579 shares during the period. Morgan Stanley lifted its stake in shares of Toast by 149.3% during the 3rd quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock worth $224,896,000 after purchasing an additional 7,191,595 shares during the period. Abdiel Capital Advisors LP boosted its holdings in shares of Toast by 0.8% during the third quarter. Abdiel Capital Advisors LP now owns 10,876,373 shares of the company’s stock worth $203,714,000 after purchasing an additional 86,536 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Toast by 69.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,600,377 shares of the company’s stock valued at $120,523,000 after purchasing an additional 2,708,597 shares during the last quarter. Finally, Eventide Asset Management LLC boosted its position in shares of Toast by 82.4% in the third quarter. Eventide Asset Management LLC now owns 2,926,074 shares of the company’s stock worth $54,805,000 after acquiring an additional 1,322,208 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TOST. Canaccord Genuity Group lifted their price objective on Toast from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group raised their target price on Toast from $22.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, March 28th. The Goldman Sachs Group upped their price target on Toast from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Royal Bank of Canada upped their target price on Toast from $23.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Finally, Needham & Company LLC boosted their price objective on shares of Toast from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $25.35.

Toast Stock Performance

Shares of TOST stock traded up $3.09 during midday trading on Wednesday, hitting $26.82. 25,111,936 shares of the company were exchanged, compared to its average volume of 8,205,683. The firm has a market capitalization of $12.10 billion, a P/E ratio of -52.90 and a beta of 1.77. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $27.31. The firm’s 50 day moving average price is $23.63 and its two-hundred day moving average price is $19.52.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, meeting analysts’ consensus estimates of ($0.15). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The company’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.16) EPS. Analysts expect that Toast, Inc. will post -0.22 EPS for the current year.

Insider Activity at Toast

In other Toast news, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the completion of the sale, the executive now owns 22,956 shares in the company, valued at approximately $579,409.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Toast news, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the completion of the transaction, the executive now owns 22,956 shares in the company, valued at approximately $579,409.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Stephen Fredette sold 2,272 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was 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 directly owns 2,835,759 shares of the company’s stock, valued at $66,356,760.60. The disclosure for this sale can be found here. Insiders sold 180,510 shares of company stock worth $4,381,885 over the last three months. Company 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.