Toast, Inc. $TOST Shares Sold by Redmond Asset Management LLC

Redmond Asset Management LLC reduced its position in shares of Toast, Inc. (NYSE:TOST) by 38.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,972 shares of the company’s stock after selling 26,434 shares during the period. Redmond Asset Management LLC’s holdings in Toast were worth $1,217,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. North Dakota State Investment Board raised its position in shares of Toast by 6.0% during the 3rd quarter. North Dakota State Investment Board now owns 14,595 shares of the company’s stock valued at $423,000 after buying an additional 820 shares during the period. Arrow Financial Corp acquired a new position in Toast in the third quarter valued at approximately $596,000. Asset Management One Co. Ltd. lifted its holdings in Toast by 25.3% in the third quarter. Asset Management One Co. Ltd. now owns 219,395 shares of the company’s stock valued at $6,360,000 after acquiring an additional 44,245 shares during the last quarter. Park Avenue Securities LLC grew its position in Toast by 9.1% in the third quarter. Park Avenue Securities LLC now owns 55,655 shares of the company’s stock worth $1,613,000 after acquiring an additional 4,662 shares during the period. Finally, Verdence Capital Advisors LLC purchased a new position in Toast in the third quarter worth approximately $289,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Elena Gomez sold 16,176 shares of Toast stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $35.29, for a total value of $570,851.04. Following the completion of the sale, the chief financial officer directly owned 168,974 shares of the company’s stock, valued at approximately $5,963,092.46. The trade was a 8.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Vassil sold 85,280 shares of Toast stock in a transaction on Friday, August 21st. The shares were sold at an average price of $36.34, for a total value of $3,099,075.20. Following the completion of the sale, the executive directly owned 69,966 shares of the company’s stock, valued at $2,542,564.44. The trade was a 54.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 534,830 shares of company stock worth $18,566,600 over the last ninety days. Corporate insiders own 10.03% of the company’s stock.

Toast Stock Performance

Toast stock opened at $31.95 on Thursday. The company’s 50 day simple moving average is $32.21 and its 200-day simple moving average is $29.44. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $39.67. The company has a market capitalization of $16.42 billion, a price-to-earnings ratio of 40.96 and a beta of 1.74.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the business posted $0.13 EPS. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. Equities analysts expect that Toast, Inc. will post 1.00 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TOST shares. Citigroup raised their target price on Toast from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group raised Toast from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Thursday, July 9th. Weiss Ratings upgraded Toast from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Sanford C. Bernstein increased their price target on Toast from $39.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada raised their price objective on Toast from $36.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Monday, August 31st. Seventeen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, Toast presently has a consensus rating of “Moderate Buy” and an average price target of $39.11.

Toast Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants. Its integrated system combines point-of-sale software and hardware with payment processing, helping restaurants manage sales, orders, menus, guest interactions and day-to-day operations from a unified platform.

The company offers products and services including online ordering, delivery management, digital ordering and payment tools, restaurant websites, gift cards, loyalty programs, marketing, labor management, payroll, inventory management, reporting and analytics.