Park Avenue Securities LLC Has $1.43 Million Stake in Toast, Inc. (NYSE:TOST)

Park Avenue Securities LLC lessened its stake in shares of Toast, Inc. (NYSE:TOST) by 3.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,541 shares of the company’s stock after selling 1,965 shares during the period. Park Avenue Securities LLC’s holdings in Toast were worth $1,431,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TOST. LRI Investments LLC acquired a new stake in Toast in the first quarter worth $27,000. West Branch Capital LLC bought a new position in shares of Toast during the 2nd quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Toast in the 2nd quarter valued at about $33,000. 1620 Investment Advisors Inc. bought a new stake in Toast in the 2nd quarter valued at about $34,000. Finally, Harbor Investment Advisory LLC bought a new position in Toast in the first quarter worth approximately $37,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Buying and Selling

In other Toast news, President Stephen Fredette sold 1,127 shares of Toast stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $27,048.00. Following the completion of the transaction, the president now owns 2,849,709 shares of the company’s stock, valued at $68,393,016. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Aman Narang sold 10,106 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $280,643.62. Following the completion of the transaction, the chief executive officer now directly owns 968,095 shares in the company, valued at $26,883,998.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Stephen Fredette sold 1,127 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $27,048.00. Following the completion of the transaction, the president now owns 2,849,709 shares in the company, valued at $68,393,016. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 990,794 shares of company stock valued at $25,771,991. Corporate insiders own 13.32% of the company’s stock.

Toast Stock Performance

Shares of TOST opened at $28.18 on Tuesday. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $29.92. The business has a 50-day moving average of $25.44 and a 200 day moving average of $24.87. The firm has a market cap of $12.76 billion, a P/E ratio of -56.35 and a beta of 1.76.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on TOST. Wedbush upgraded Toast to a “strong-buy” rating in a report on Friday, September 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $27.00 price objective on shares of Toast in a research note on Wednesday, August 7th. Morgan Stanley boosted their target price on shares of Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price target on shares of Toast in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $29.00 price objective on shares of Toast in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Toast has an average rating of “Moderate Buy” and a consensus target price of $28.33.

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.