Toast, Inc. (NYSE:TOST) Position Trimmed by Financial Advocates Investment Management

Financial Advocates Investment Management trimmed its stake in Toast, Inc. (NYSE:TOST) by 3.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,644 shares of the company’s stock after selling 500 shares during the quarter. Financial Advocates Investment Management’s holdings in Toast were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in TOST. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Toast by 1.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock valued at $927,000 after buying an additional 421 shares during the period. Private Advisor Group LLC increased its position in Toast by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock worth $797,000 after purchasing an additional 441 shares during the last quarter. Wellington Shields & Co. LLC raised its stake in shares of Toast by 3.1% during the 1st quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock worth $416,000 after purchasing an additional 500 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Toast by 8.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 6,742 shares of the company’s stock valued at $174,000 after buying an additional 520 shares during the last quarter. Finally, Comerica Bank grew its stake in shares of Toast by 10.9% in the 1st quarter. Comerica Bank now owns 6,167 shares of the company’s stock valued at $154,000 after buying an additional 607 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, General Counsel Brian R. Elworthy sold 2,878 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total value of $79,922.06. Following the completion of the transaction, the general counsel now directly owns 177,836 shares in the company, valued at approximately $4,938,505.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Toast news, General Counsel Brian R. Elworthy sold 2,878 shares of Toast stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total transaction of $79,922.06. Following the sale, the general counsel now owns 177,836 shares in the company, valued at $4,938,505.72. 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 at this link. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction on Friday, October 18th. The shares were 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 of the company’s stock, valued at approximately $5,404,436.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,370,721 shares of company stock worth $37,996,988. 13.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group upped their price objective on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, October 14th. DA Davidson boosted their price target on Toast from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Morgan Stanley upped their price target on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Bank of America raised their price objective on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. One 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.26.

Toast Price Performance

Shares of Toast stock opened at $30.98 on Monday. The firm has a fifty day moving average price of $27.37 and a two-hundred day moving average price of $25.65. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $31.57. The company has a market cap of $14.28 billion, a PE ratio of -106.83 and a beta of 1.74.

Toast (NYSE:TOST) last released its earnings results 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. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the company earned ($0.19) earnings per share. The firm’s revenue was up 27.0% on a year-over-year basis. Analysts expect that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

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.