Toast, Inc. (NYSE:TOST) Shares Sold by Independent Family Office LLC

Independent Family Office LLC lowered its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 14.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 285,000 shares of the company's stock after selling 49,275 shares during the quarter. Toast comprises about 5.4% of Independent Family Office LLC's holdings, making the stock its 5th largest position. Independent Family Office LLC owned 0.06% of Toast worth $10,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Blue Trust Inc. grew its position in Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company's stock valued at $25,000 after acquiring 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 purchased a new position in Toast in the fourth quarter valued at approximately $34,000. SBI Securities Co. Ltd. acquired a new position in Toast during the fourth quarter valued at approximately $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Toast during the fourth quarter worth approximately $40,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TOST has been the topic of several recent research reports. BMO Capital Markets lifted their target price on shares of Toast from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Wells Fargo & Company boosted their price objective on Toast from $25.00 to $30.00 and gave the stock an "underweight" rating in a research note on Thursday, January 16th. BNP Paribas set a $37.00 target price on Toast and gave the company a "neutral" rating in a report on Wednesday, February 19th. Oppenheimer initiated coverage on shares of Toast in a research report on Friday, January 24th. They issued an "outperform" rating and a $46.00 price objective for the company. Finally, The Goldman Sachs Group set a $40.00 target price on shares of Toast and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $40.48.

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Toast Stock Down 1.9 %

TOST traded down $0.68 during trading on Friday, reaching $35.20. The stock had a trading volume of 6,987,316 shares, compared to its average volume of 6,500,788. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $44.12. The firm has a market capitalization of $17.39 billion, a price-to-earnings ratio of -3,516.78, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. The stock has a 50 day moving average of $37.83 and a two-hundred day moving average of $34.92.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share 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 firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. On average, research analysts forecast that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Insider Activity

In related news, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the transaction, the president now directly owns 1,644,656 shares in the company, valued at $65,177,717.28. The trade was a 0.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the business's stock in a transaction 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 sale, the general counsel now directly owns 209,206 shares in the company, valued at $8,290,833.78. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,714 shares of company stock worth $5,360,943. Corporate insiders own 13.32% of the company's stock.

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.