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

SP Asset Management LLC lessened its stake in shares of Toast, Inc. (NYSE:TOST) by 20.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,802 shares of the company’s stock after selling 2,000 shares during the quarter. SP Asset Management LLC’s holdings in Toast were worth $284,000 as of its most recent SEC filing.

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

Toast Price Performance

NYSE:TOST opened at $36.53 on Thursday. The firm has a 50-day moving average of $38.53 and a two-hundred day moving average of $34.21. The stock has a market cap of $18.04 billion, a P/E ratio of -3,648.85, a PEG ratio of 2.16 and a beta of 1.98. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $44.12.

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

Insider Transactions at Toast

In related news, General Counsel Brian R. Elworthy sold 653 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the transaction, the general counsel now owns 209,206 shares in the company, valued at $8,290,833.78. This trade represents a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 2,052 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $81,320.76. Following the completion of the transaction, the chief financial officer now owns 160,498 shares of the company’s stock, valued at $6,360,535.74. This trade represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 149,779 shares of company stock valued at $5,415,192 in the last quarter. Insiders own 13.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TOST. DA Davidson reissued a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Toast in a research note on Thursday, December 5th. Robert W. Baird upped their target price on Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Morgan Stanley boosted their price target on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, The Goldman Sachs Group set a $40.00 price target on Toast and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. 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 company presently has an average rating of “Hold” and a consensus price target of $40.48.

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.