AtonRa Partners Sells 3,547 Shares of Toast, Inc. (NYSE:TOST)

AtonRa Partners trimmed its stake in shares of Toast, Inc. (NYSE:TOST) by 17.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,569 shares of the company’s stock after selling 3,547 shares during the quarter. AtonRa Partners’ holdings in Toast were worth $303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Toast by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock worth $657,032,000 after buying an additional 3,494,579 shares during the last quarter. Morgan Stanley grew its position in shares of Toast by 149.3% in the 3rd quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock worth $224,896,000 after buying an additional 7,191,595 shares during the last quarter. Abdiel Capital Advisors LP grew its position in shares of Toast by 0.8% in the 3rd quarter. Abdiel Capital Advisors LP now owns 10,876,373 shares of the company’s stock worth $203,714,000 after buying an additional 86,536 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position 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 buying an additional 2,708,597 shares during the last quarter. Finally, Eventide Asset Management LLC grew its position in shares of Toast by 82.4% in the 3rd quarter. Eventide Asset Management LLC now owns 2,926,074 shares of the company’s stock worth $54,805,000 after buying an additional 1,322,208 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Aman Narang sold 2,471 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $57,821.40. Following the transaction, the chief executive officer now directly owns 1,114,454 shares in the company, valued at $26,078,223.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Toast news, General Counsel Brian R. Elworthy sold 224,900 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $18.37, for a total transaction of $4,131,413.00. Following the sale, the general counsel now directly owns 160,340 shares in the company, valued at $2,945,445.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $57,821.40. Following the transaction, the chief executive officer now directly owns 1,114,454 shares in the company, valued at approximately $26,078,223.60. The disclosure for this sale can be found here. Insiders have sold 414,486 shares of company stock worth $8,662,487 over the last ninety days. Corporate insiders own 13.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Toast from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods began coverage on Toast in a research note on Tuesday, April 9th. They issued a “market perform” rating and a $25.00 target price for the company. Piper Sandler raised their target price on Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Wells Fargo & Company raised their target price on Toast from $15.00 to $17.00 and gave the company an “underweight” rating in a research note on Friday, April 12th. Finally, Mizuho restated a “neutral” rating and issued a $17.00 target price on shares of Toast in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $24.32.

Toast Price Performance

Shares of TOST traded up $0.03 during trading hours on Monday, hitting $23.94. The stock had a trading volume of 5,455,576 shares, compared to its average volume of 8,058,751. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $27.00. The firm has a market capitalization of $10.81 billion, a PE ratio of -46.88 and a beta of 1.79. The stock has a fifty day moving average price of $23.36 and a 200 day moving average price of $19.24.

Toast (NYSE:TOST) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the company posted ($0.19) earnings per share. Toast’s revenue for the quarter was up 34.7% on a year-over-year basis. As a group, analysts anticipate that Toast, Inc. will post -0.22 EPS for the current fiscal 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.