Pier 88 Investment Partners LLC Sells 18,030 Shares of Toast, Inc. (NYSE:TOST)

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

Several other large investors have also added to or reduced their stakes in the business. Blue Trust Inc. increased its stake in Toast by 120.4% in 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 stake in Toast in the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new stake in Toast in the 4th quarter valued at about $34,000. SBI Securities Co. Ltd. bought a new position in Toast in the fourth quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Toast in the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Toast in a research report on Thursday, February 20th. Royal Bank of Canada raised their price objective on shares of Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their target price on shares of Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Wells Fargo & Company upped their target price on shares of Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Finally, UBS Group lifted their price target on Toast from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $40.48.

Insider Activity at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the sale, the general counsel now owns 209,206 shares in the company, valued at $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $35.71, for a total value of $2,499,700.00. Following the completion of the transaction, the director now owns 164,796 shares of the company’s stock, valued at approximately $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. In the last ninety days, insiders have sold 270,770 shares of company stock worth $9,409,211. 13.32% of the stock is owned by corporate insiders.

Toast Price Performance

NYSE:TOST opened at $33.53 on Monday. The company has a market capitalization of $16.56 billion, a P/E ratio of -3,349.25, a P/E/G ratio of 2.16 and a beta of 1.99. The business has a fifty day simple moving average of $37.72 and a two-hundred day simple moving average of $35.48. Toast, Inc. has a 1 year low of $21.32 and a 1 year high of $44.12.

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