Hamilton Lane Advisors LLC Cuts Stake in Toast, Inc. (NYSE:TOST)

Hamilton Lane Advisors LLC trimmed its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 48.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 388,683 shares of the company's stock after selling 368,682 shares during the period. Toast accounts for approximately 13.7% of Hamilton Lane Advisors LLC's portfolio, making the stock its 3rd largest holding. Hamilton Lane Advisors LLC owned 0.08% of Toast worth $14,167,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Toth Financial Advisory Corp purchased a new position in shares of Toast in the third quarter worth about $28,000. Raleigh Capital Management Inc. boosted its holdings in Toast by 93.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company's stock worth $42,000 after buying an additional 720 shares during the period. Farther Finance Advisors LLC grew its stake in Toast by 32.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company's stock valued at $58,000 after buying an additional 496 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Toast in the 3rd quarter valued at approximately $59,000. Finally, Truvestments Capital LLC bought a new stake in Toast during the 3rd quarter valued at $65,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Up 0.8 %

Shares of NYSE TOST traded up $0.31 during trading hours on Thursday, reaching $36.90. 3,640,581 shares of the stock traded hands, compared to its average volume of 4,888,588. The company has a market capitalization of $17.38 billion, a P/E ratio of -283.84, a price-to-earnings-growth ratio of 1.83 and a beta of 1.97. The company's 50-day simple moving average is $38.90 and its two-hundred day simple moving average is $30.86. Toast, Inc. has a 52-week low of $16.13 and a 52-week high of $44.12.

Insiders Place Their Bets

In related news, CFO Elena Gomez sold 31,248 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $30.37, for a total transaction of $949,001.76. Following the completion of the sale, the chief financial officer now directly owns 157,620 shares in the company, valued at $4,786,919.40. This represents a 16.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christopher P. Comparato sold 145,000 shares of Toast stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $36.04, for a total value of $5,225,800.00. Following the completion of the transaction, the director now directly owns 182,451 shares in the company, valued at $6,575,534.04. This trade represents a 44.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 943,848 shares of company stock valued at $33,409,434. 13.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TOST shares. Robert W. Baird raised their price target on Toast from $30.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. BNP Paribas downgraded Toast from an "outperform" rating to a "neutral" rating and set a $37.00 target price for the company. in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upped their price target on Toast from $24.00 to $30.00 and gave the company a "hold" rating in a research report on Monday, November 4th. Wedbush raised their price objective on shares of Toast from $35.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Finally, Piper Sandler boosted their price objective on shares of Toast from $25.00 to $35.00 and gave the company a "neutral" rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $35.27.

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.