Ieq Capital LLC Reduces Position in Toast, Inc. (NYSE:TOST)

Ieq Capital LLC trimmed its stake in Toast, Inc. (NYSE:TOST - Free Report) by 66.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 238,356 shares of the company's stock after selling 473,343 shares during the period. Ieq Capital LLC owned approximately 0.05% of Toast worth $8,688,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Private Advisor Group LLC raised its position in Toast by 3.2% during the fourth quarter. Private Advisor Group LLC now owns 29,039 shares of the company's stock valued at $1,058,000 after purchasing an additional 888 shares in the last quarter. Alberta Investment Management Corp increased its position in shares of Toast by 1.1% during the 4th quarter. Alberta Investment Management Corp now owns 99,200 shares of the company's stock valued at $3,616,000 after purchasing an additional 1,100 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of Toast by 52.0% during the 4th quarter. D.A. Davidson & CO. now owns 33,593 shares of the company's stock valued at $1,224,000 after buying an additional 11,493 shares in the last quarter. Truist Financial Corp lifted its position in Toast by 13.4% in the 4th quarter. Truist Financial Corp now owns 28,698 shares of the company's stock worth $1,046,000 after buying an additional 3,397 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Toast by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 13,311 shares of the company's stock worth $485,000 after buying an additional 697 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Down 6.4 %

Shares of NYSE:TOST traded down $2.58 during trading on Friday, hitting $37.68. The stock had a trading volume of 9,872,756 shares, compared to its average volume of 6,186,769. The company has a market capitalization of $17.75 billion, a PE ratio of -3,764.44, a PEG ratio of 2.16 and a beta of 1.98. The firm's fifty day moving average is $38.60 and its 200 day moving average is $33.44. Toast, Inc. has a 12 month low of $20.57 and a 12 month high of $44.12.

Toast (NYSE:TOST - Get Free Report) last posted 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). Toast had a return on equity of 1.54% and a net margin of 0.40%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Equities research analysts expect that Toast, Inc. will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

TOST has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Toast from $36.00 to $42.00 and gave the stock a "neutral" rating in a report on Thursday. UBS Group boosted their price target on shares of Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday. Piper Sandler raised their price objective on Toast from $25.00 to $35.00 and gave the company a "neutral" rating in a research note on Monday, November 11th. Wedbush boosted their target price on Toast from $35.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Finally, Keefe, Bruyette & Woods raised their price target on Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $40.23.

Insider Activity at Toast

In other news, Director David Yuan sold 189,785 shares of Toast stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the completion of the transaction, the director now directly owns 198,829 shares in the company, valued at approximately $8,551,635.29. This trade represents a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brian R. Elworthy sold 653 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the sale, the general counsel now owns 209,206 shares in the company, valued at $8,290,833.78. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 339,564 shares of company stock valued at $13,577,845 in the last three months. Company insiders own 13.32% of the company's stock.

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.