Bradley Foster & Sargent Inc. CT Reduces Holdings in Toast, Inc. (NYSE:TOST)

Bradley Foster & Sargent Inc. CT cut its stake in Toast, Inc. (NYSE:TOST) by 72.1% in the second quarter, Holdings Channel.com reports. The fund owned 21,841 shares of the company’s stock after selling 56,464 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Toast were worth $563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Securities Inc. acquired a new stake in shares of Toast during the fourth quarter worth about $30,000. Envestnet Portfolio Solutions Inc. grew its stake in Toast by 5.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock worth $255,000 after buying an additional 774 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Toast by 8,092.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 69,386 shares of the company’s stock worth $1,267,000 after buying an additional 68,539 shares during the period. Norges Bank purchased a new stake in Toast in the fourth quarter valued at approximately $76,699,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Toast by 359.0% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,903 shares of the company’s stock valued at $108,000 after acquiring an additional 4,617 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Trading Up 2.5 %

Shares of Toast stock opened at $26.97 on Friday. The company has a 50-day moving average of $25.03 and a two-hundred day moving average of $24.56. Toast, Inc. has a 12-month low of $13.77 and a 12-month high of $27.90. The stock has a market cap of $12.43 billion, a PE ratio of -53.94 and a beta of 1.75.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. Toast’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period last year, the business posted ($0.19) EPS. On average, sell-side analysts forecast that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 target price on shares of Toast in a report on Wednesday, August 7th. Morgan Stanley upped their target price on shares of Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $26.00 price target on shares of Toast in a report on Wednesday, May 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $27.00 price objective on shares of Toast in a research note on Wednesday, August 7th. Finally, Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $21.00 to $33.00 in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Toast presently has an average rating of “Moderate Buy” and a consensus price target of $28.33.

Insider Transactions at Toast

In other Toast news, President Stephen Fredette sold 101,574 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $25.73, for a total transaction of $2,613,499.02. Following the completion of the transaction, the president now directly owns 2,395,685 shares in the company, valued at approximately $61,640,975.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Aman Narang sold 6,355 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total value of $162,942.20. Following the sale, the chief executive officer now owns 1,131,043 shares of the company’s stock, valued at approximately $28,999,942.52. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Stephen Fredette sold 101,574 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $25.73, for a total value of $2,613,499.02. Following the transaction, the president now directly owns 2,395,685 shares of the company’s stock, valued at approximately $61,640,975.05. The disclosure for this sale can be found here. Insiders sold 651,612 shares of company stock valued at $16,191,520 in the last 90 days. 13.32% of the stock is currently owned by insiders.

Toast Company 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.