DekaBank Deutsche Girozentrale Sells 13,241 Shares of Toast, Inc. (NYSE:TOST)

DekaBank Deutsche Girozentrale reduced its position in shares of Toast, Inc. (NYSE:TOST) by 26.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,630 shares of the company’s stock after selling 13,241 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Toast were worth $1,008,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TOST. Susquehanna Fundamental Investments LLC bought a new position in shares of Toast during the 1st quarter worth approximately $5,078,000. QRG Capital Management Inc. boosted its position in Toast by 39.7% in the second quarter. QRG Capital Management Inc. now owns 84,967 shares of the company’s stock worth $2,190,000 after purchasing an additional 24,164 shares during the last quarter. Epoch Investment Partners Inc. purchased a new position in Toast in the first quarter worth $633,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Toast by 15.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 483,140 shares of the company’s stock valued at $12,040,000 after purchasing an additional 65,654 shares during the period. Finally, Duality Advisers LP purchased a new stake in shares of Toast during the 1st quarter valued at $1,172,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Stock Up 3.2 %

Toast stock opened at $30.98 on Friday. The stock has a market cap of $14.28 billion, a price-to-earnings ratio of -106.82 and a beta of 1.74. The business has a 50-day simple moving average of $27.37 and a 200 day simple moving average of $25.60. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $31.57.

Toast (NYSE:TOST) last issued 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. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. Toast’s revenue was up 27.0% on a year-over-year basis. On average, research analysts anticipate that Toast, Inc. will post -0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TOST. Bank of America increased their price target on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Royal Bank of Canada restated a “sector perform” rating and set a $27.00 price target on shares of Toast in a research note on Wednesday, August 7th. Wedbush upgraded Toast to a “strong-buy” rating in a research note on Friday, September 6th. The Goldman Sachs Group raised their target price on Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Mizuho raised Toast from a “neutral” rating to an “outperform” rating and upped their price target for the company from $21.00 to $33.00 in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.26.

Insider Activity at Toast

In other news, CRO Jonathan Vassil sold 50,000 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $1,519,500.00. Following the transaction, the executive now directly owns 38,266 shares in the company, valued at approximately $1,162,903.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CRO Jonathan Vassil sold 50,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $30.39, for a total value of $1,519,500.00. Following the completion of the sale, the executive now owns 38,266 shares of the company’s stock, valued at approximately $1,162,903.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Brian R. Elworthy sold 300,000 shares of Toast stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the completion of the transaction, the general counsel now owns 177,836 shares in the company, valued at approximately $5,404,436.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,370,721 shares of company stock valued at $37,996,988 over the last 90 days. 13.32% of the stock is 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.