Mirae Asset Global Investments Co. Ltd. Reduces Stock Position in Toast, Inc. (NYSE:TOST)

Mirae Asset Global Investments Co. Ltd. cut its stake in Toast, Inc. (NYSE:TOST) by 37.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,807 shares of the company’s stock after selling 1,092 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Toast were worth $51,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. LRI Investments LLC purchased a new stake in shares of Toast in the first quarter valued at approximately $27,000. West Branch Capital LLC purchased a new position in Toast in the second quarter worth approximately $26,000. Toth Financial Advisory Corp purchased a new position in Toast in the third quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Toast in the second quarter worth approximately $33,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Toast in the second quarter worth approximately $34,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Price Performance

NYSE:TOST opened at $30.81 on Wednesday. The firm has a market capitalization of $14.20 billion, a PE ratio of -106.24 and a beta of 1.74. The business’s fifty day moving average price is $27.61 and its 200 day moving average price is $25.77. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $31.57.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. The company had revenue of $1.24 billion for 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 quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.19) earnings per share. As a group, equities analysts anticipate that Toast, Inc. will post -0.1 EPS for the current year.

Insiders Place Their Bets

In other Toast news, CEO Aman Narang sold 10,106 shares of the firm’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 transaction, the chief executive officer now owns 968,095 shares of the company’s stock, valued at approximately $26,883,998.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Toast news, CEO Aman Narang sold 10,106 shares of the firm’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 transaction, the chief executive officer now owns 968,095 shares of the company’s stock, valued at approximately $26,883,998.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 2,878 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total value of $79,922.06. Following 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,375,651 shares of company stock valued at $38,150,212. 13.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TOST has been the subject of several analyst reports. Wedbush upgraded Toast to a “strong-buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. increased their price objective on Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Robert W. Baird upped their price target on Toast from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. DA Davidson upped their price target on Toast from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.30.

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.