Sands Capital Ventures LLC Decreases Holdings in Toast, Inc. (NYSE:TOST)

Sands Capital Ventures LLC cut its stake in Toast, Inc. (NYSE:TOST) by 16.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,945 shares of the company’s stock after selling 1,002 shares during the quarter. Toast comprises about 0.0% of Sands Capital Ventures LLC’s investment portfolio, making the stock its 18th biggest position. Sands Capital Ventures LLC’s holdings in Toast were worth $127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of TOST. Vanguard Group Inc. raised its holdings in shares of Toast by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after buying an additional 1,598,248 shares during the period. Capital International Investors raised its stake in shares of Toast by 12.2% during the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after purchasing an additional 3,574,397 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Toast by 21.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock valued at $486,557,000 after purchasing an additional 3,445,788 shares during the period. Abdiel Capital Advisors LP lifted its position in shares of Toast by 0.3% during the fourth quarter. Abdiel Capital Advisors LP now owns 10,913,464 shares of the company’s stock worth $199,280,000 after purchasing an additional 37,091 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its stake in shares of Toast by 9.1% in the first quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock valued at $248,611,000 after purchasing an additional 833,390 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Brian R. Elworthy sold 2,573 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $25.64, for a total transaction of $65,971.72. Following the completion of the transaction, the general counsel now owns 170,531 shares of the company’s stock, valued at $4,372,414.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Brian R. Elworthy sold 2,573 shares of Toast stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $25.64, for a total value of $65,971.72. Following the sale, the general counsel now directly owns 170,531 shares in the company, valued at approximately $4,372,414.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Aman Narang sold 6,355 shares of the business’s 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 of the company’s stock, valued at $28,999,942.52. The disclosure for this sale can be found here. Insiders have sold 652,412 shares of company stock valued at $16,213,120 over the last three months. Company insiders own 13.32% of the company’s stock.

Toast Stock Up 2.9 %

Shares of NYSE:TOST opened at $27.73 on Friday. The company has a market cap of $12.56 billion, a PE ratio of -55.46 and a beta of 1.75. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $27.90. The firm has a 50-day simple moving average of $25.08 and a 200 day simple moving average of $24.58.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.04. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The business’s revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.19) earnings per share. As a group, research analysts forecast that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TOST. Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $21.00 to $33.00 in a research note on Thursday, July 18th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target on shares of Toast in a research note on Wednesday, August 7th. Royal Bank of Canada restated a “sector perform” rating and set a $27.00 price objective on shares of Toast in a research note on Wednesday, August 7th. Stephens restated an “equal weight” rating and set a $28.00 price objective on shares of Toast in a report on Thursday, May 30th. Finally, Wedbush upgraded Toast to a “strong-buy” rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Toast currently has an average rating of “Moderate Buy” and an average price target of $28.33.

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.