GSA Capital Partners LLP Trims Holdings in Toast, Inc. (NYSE:TOST)

GSA Capital Partners LLP lowered its position in shares of Toast, Inc. (NYSE:TOST) by 8.4% in the first quarter, Holdings Channel reports. The institutional investor owned 77,851 shares of the company’s stock after selling 7,118 shares during the period. GSA Capital Partners LLP’s holdings in Toast were worth $1,940,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S raised its position in Toast by 497.3% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,258 shares of the company’s stock worth $879,000 after buying an additional 29,355 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in Toast by 3.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 6,189,048 shares of the company’s stock worth $154,231,000 after buying an additional 214,384 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. purchased a new position in Toast during the 1st quarter worth $1,912,000. Lewis Asset Management LLC raised its position in Toast by 17.4% during the 1st quarter. Lewis Asset Management LLC now owns 44,998 shares of the company’s stock worth $1,121,000 after buying an additional 6,655 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new position in Toast during the 1st quarter worth $212,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Transactions at Toast

In other news, CEO Aman Narang sold 6,355 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total transaction of $162,942.20. Following the transaction, the chief executive officer now directly owns 1,131,043 shares in the company, valued at approximately $28,999,942.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider James Michael Matlock sold 1,854 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total value of $47,536.56. Following the transaction, the insider now owns 48,118 shares in the company, valued at $1,233,745.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Aman Narang sold 6,355 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total transaction of $162,942.20. Following the completion of the transaction, the chief executive officer now owns 1,131,043 shares in the company, valued at approximately $28,999,942.52. The disclosure for this sale can be found here. Insiders have sold a total of 229,253 shares of company stock worth $5,630,212 in the last three months. Company insiders own 13.32% of the company’s stock.

Toast Trading Down 4.5 %

Shares of Toast stock traded down $1.13 during mid-day trading on Wednesday, hitting $23.80. 2,621,693 shares of the stock were exchanged, compared to its average volume of 7,939,206. Toast, Inc. has a twelve month low of $13.77 and a twelve month high of $27.90. The stock has a market capitalization of $10.78 billion, a price-to-earnings ratio of -47.34 and a beta of 1.76. The company has a 50-day simple moving average of $24.81 and a 200 day simple moving average of $22.46.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, hitting the consensus estimate of ($0.15). The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The company’s revenue was up 31.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.16) EPS. Equities research analysts forecast that Toast, Inc. will post -0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group upped their price objective on shares of Toast from $22.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. The Goldman Sachs Group upped their price target on shares of Toast from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Piper Sandler upped their price target on shares of Toast from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $26.00 price target on shares of Toast in a research note on Wednesday, May 29th. Finally, Canaccord Genuity Group upped their price target on shares of Toast from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and an average price target of $26.14.

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.