Cibc World Markets Corp Sells 3,386 Shares of Toast, Inc. (NYSE:TOST)

Cibc World Markets Corp cut its position in shares of Toast, Inc. (NYSE:TOST) by 16.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,732 shares of the company’s stock after selling 3,386 shares during the quarter. Cibc World Markets Corp’s holdings in Toast were worth $646,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after buying an additional 378 shares in the last quarter. Piscataqua Savings Bank bought a new position in shares of Toast during the fourth quarter worth about $26,000. Stonebridge Financial Group LLC bought a new position in shares of Toast during the fourth quarter worth about $34,000. SBI Securities Co. Ltd. bought a new position in shares of Toast during the fourth quarter worth about $35,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Toast during the fourth quarter worth about $40,000. 82.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Elena Gomez sold 2,052 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 value of $81,320.76. Following the transaction, the chief financial officer now owns 160,498 shares in the company, valued at approximately $6,360,535.74. This trade represents a 1.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the completion of the transaction, the president now owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 270,770 shares of company stock worth $9,409,211 in the last 90 days. Company insiders own 13.32% of the company’s stock.

Toast Trading Down 1.9 %

NYSE:TOST opened at $35.20 on Friday. The stock has a market cap of $17.39 billion, a P/E ratio of -3,516.78, a PEG ratio of 2.16 and a beta of 1.99. The stock has a 50 day simple moving average of $37.82 and a 200 day simple moving average of $35.07. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $44.12.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on TOST shares. Keefe, Bruyette & Woods increased their price target on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. increased their price target on Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Wells Fargo & Company increased their price target on Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Oppenheimer started coverage on Toast in a research report on Friday, January 24th. They set an “outperform” rating and a $46.00 price target for the company. Finally, Royal Bank of Canada increased their price target on Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $40.48.

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.