Glynn Capital Management LLC Sells 394,467 Shares of Toast, Inc. (NYSE:TOST)

Glynn Capital Management LLC lowered its stake in Toast, Inc. (NYSE:TOST - Free Report) by 43.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 521,547 shares of the company's stock after selling 394,467 shares during the quarter. Toast comprises approximately 4.5% of Glynn Capital Management LLC's holdings, making the stock its 11th largest holding. Glynn Capital Management LLC owned 0.11% of Toast worth $19,010,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. lifted 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 buying an additional 378 shares during the period. Piscataqua Savings Bank acquired a new stake in Toast during the 4th quarter worth approximately $26,000. Stonebridge Financial Group LLC bought a new stake in Toast in the 4th quarter valued at $34,000. SBI Securities Co. Ltd. bought a new position in shares of Toast during the fourth quarter worth about $35,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Toast during the 4th quarter worth approximately $40,000. 82.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Deval L. Patrick sold 34,222 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $33.01, for a total value of $1,129,668.22. Following the transaction, the director now owns 13,260 shares in the company, valued at approximately $437,712.60. The trade was a 72.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Fredette sold 70,340 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the completion of the sale, the president now directly owns 1,574,316 shares in the company, valued at approximately $53,322,082.92. This represents a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 270,770 shares of company stock valued at $9,409,211. 13.32% of the stock is currently owned by company insiders.

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Toast Price Performance

NYSE TOST traded down $0.68 during trading hours on Friday, reaching $35.20. The company's stock had a trading volume of 6,987,316 shares, compared to its average volume of 6,508,881. The firm has a fifty day simple moving average of $37.82 and a 200-day simple moving average of $35.15. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $44.12. The stock has a market cap of $17.39 billion, a P/E ratio of -3,516.78, a P/E/G ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Analysts Set New Price Targets

TOST has been the topic of a number of recent analyst reports. Robert W. Baird boosted their target price on shares of Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Morgan Stanley upped their price objective on Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Oppenheimer initiated coverage on Toast in a research report on Friday, January 24th. They set an "outperform" rating and a $46.00 price target on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Toast from $40.00 to $42.00 and gave the company a "market perform" rating in a research report on Thursday, February 20th. Finally, BNP Paribas set a $37.00 price target on shares of Toast and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Toast presently has an average rating of "Hold" and a consensus price target of $40.48.

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.