Toast, Inc. (NYSE:TOST) Stock Position Decreased by Edgestream Partners L.P.

Edgestream Partners L.P. lessened its holdings in shares of Toast, Inc. (NYSE:TOST) by 25.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 83,894 shares of the company’s stock after selling 28,361 shares during the period. Edgestream Partners L.P.’s holdings in Toast were worth $2,091,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Norges Bank acquired a new stake in shares of Toast in the 4th quarter worth approximately $76,699,000. Meritage Group LP acquired a new position in shares of Toast in the 4th quarter worth $70,270,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Toast by 69.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,600,377 shares of the company’s stock worth $120,523,000 after acquiring an additional 2,708,597 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of Toast by 82.7% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 5,974,664 shares of the company’s stock worth $109,097,000 after acquiring an additional 2,704,039 shares during the last quarter. Finally, Capital International Investors grew its holdings in shares of Toast by 9.1% in the 4th quarter. Capital International Investors now owns 29,349,685 shares of the company’s stock worth $535,925,000 after acquiring an additional 2,449,778 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TOST shares. The Goldman Sachs Group lifted their target price on Toast from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, April 15th. UBS Group lifted their price target on Toast from $22.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Wells Fargo & Company lifted their price target on Toast from $17.00 to $19.00 and gave the company an “underweight” rating in a report on Wednesday, May 8th. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $21.00 to $33.00 in a report on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $30.00 price target on shares of Toast in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $26.65.

Toast Price Performance

Shares of TOST stock traded up $0.25 during trading hours on Monday, reaching $27.43. The company had a trading volume of 7,273,135 shares, compared to its average volume of 7,923,956. The company has a 50 day moving average of $25.02 and a 200 day moving average of $22.96. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of -54.85 and a beta of 1.76. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $27.90.

Toast (NYSE:TOST) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.15). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The firm’s quarterly revenue was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.16) EPS. As a group, sell-side analysts forecast that Toast, Inc. will post -0.14 EPS for the current fiscal year.

Insider Activity at Toast

In related news, CRO Jonathan Vassil sold 100,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $25.55, for a total value of $2,555,000.00. Following the completion of the sale, the executive now owns 31,919 shares in the company, valued at approximately $815,530.45. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Toast news, Director Christopher P. Comparato sold 90,000 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $26.54, for a total transaction of $2,388,600.00. Following the completion of the transaction, the director now owns 112,282 shares in the company, valued at approximately $2,979,964.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Jonathan Vassil sold 100,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $25.55, for a total value of $2,555,000.00. Following the transaction, the executive now owns 31,919 shares of the company’s stock, valued at approximately $815,530.45. The disclosure for this sale can be found here. Insiders sold a total of 368,455 shares of company stock worth $9,410,466 in the last quarter. Corporate insiders own 13.32% of the company’s stock.

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.