Pier 88 Investment Partners LLC Lowers Position in Toast, Inc. (NYSE:TOST)

Pier 88 Investment Partners LLC decreased its holdings in shares of Toast, Inc. (NYSE:TOST) by 28.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,590 shares of the company’s stock after selling 18,030 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Toast were worth $1,625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised its position in Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after purchasing an additional 378 shares in the last quarter. Piscataqua Savings Bank bought a new position in shares of Toast during the 4th quarter valued at $26,000. Stonebridge Financial Group LLC purchased a new position in Toast in the 4th quarter worth $34,000. SBI Securities Co. Ltd. bought a new stake in Toast in the fourth quarter worth $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Toast during the fourth quarter valued at about $40,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TOST has been the subject of a number of recent research reports. Oppenheimer started coverage on Toast in a research note on Friday, January 24th. They issued an “outperform” rating and a $46.00 target price for the company. DA Davidson reissued a “neutral” rating and set a $38.00 price objective (down previously from $44.00) on shares of Toast in a research note on Thursday, December 5th. Keefe, Bruyette & Woods raised their target price on shares of Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a report on Thursday, February 20th. The Goldman Sachs Group set a $40.00 price target on shares of Toast and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada raised their price target on shares of Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Toast currently has a consensus rating of “Hold” and an average target price of $40.48.

Insider Buying and Selling at Toast

In other Toast news, CFO Elena Gomez sold 2,052 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $81,320.76. Following the completion of the sale, the chief financial officer now directly owns 160,498 shares in the company, valued at approximately $6,360,535.74. This trade represents a 1.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the completion of the transaction, the director now directly owns 164,796 shares of the company’s stock, valued at $5,884,865.16. This trade represents a 29.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 270,770 shares of company stock worth $9,409,211. 13.32% of the stock is owned by insiders.

Toast Price Performance

Shares of Toast stock opened at $33.53 on Monday. Toast, Inc. has a 1 year low of $21.32 and a 1 year high of $44.12. The firm has a market cap of $16.56 billion, a price-to-earnings ratio of -3,349.25, a PEG ratio of 2.16 and a beta of 1.99. The company has a 50-day moving average of $37.72 and a 200 day moving average of $35.48.

Toast (NYSE:TOST) last announced its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Toast had a net margin of 0.40% and a return on equity of 1.54%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. On average, equities analysts anticipate that Toast, Inc. will post 0.39 EPS for the current 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.