Mariner LLC Trims Stock Holdings in Toast, Inc. (NYSE:TOST)

Mariner LLC cut its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 16.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 185,919 shares of the company's stock after selling 37,135 shares during the period. Mariner LLC's holdings in Toast were worth $6,777,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TOST. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Toast by 0.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company's stock valued at $1,408,000 after acquiring an additional 301 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Toast by 11.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company's stock worth $125,000 after purchasing an additional 358 shares during the last quarter. Mirador Capital Partners LP increased its holdings in Toast by 0.9% in the fourth quarter. Mirador Capital Partners LP now owns 41,938 shares of the company's stock valued at $1,529,000 after purchasing an additional 360 shares during the period. Blue Trust Inc. raised its position in Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company's stock worth $25,000 after purchasing an additional 378 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Toast by 19.8% during the 4th quarter. Farther Finance Advisors LLC now owns 2,435 shares of the company's stock worth $89,000 after buying an additional 402 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Insider Transactions at Toast

In related news, Director Deval L. Patrick sold 34,222 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the completion of the transaction, the director now owns 13,260 shares in the company, valued at approximately $437,712.60. This represents a 72.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Stephen Fredette sold 70,340 shares of Toast stock in a transaction dated Friday, March 7th. The stock was 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 position. The disclosure for this sale can be found here. Insiders have sold 340,770 shares of company stock worth $11,803,911 in the last 90 days. Insiders own 13.32% of the company's stock.

Toast Stock Performance

Shares of Toast stock traded up $0.71 during trading hours on Wednesday, reaching $34.89. The company's stock had a trading volume of 5,779,987 shares, compared to its average volume of 6,812,566. The company has a market capitalization of $17.24 billion, a P/E ratio of -3,485.51, a P/E/G ratio of 2.16 and a beta of 2.00. The stock's fifty day simple moving average is $35.18 and its two-hundred day simple moving average is $36.22. Toast, Inc. has a one year low of $21.32 and a one year high of $44.12.

Toast (NYSE:TOST - Get Free Report) last announced 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). The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. As a group, research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on TOST. BMO Capital Markets increased their price target on Toast from $46.00 to $48.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. The Goldman Sachs Group decreased their target price on shares of Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Robert W. Baird boosted their price target on shares of Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Evercore ISI initiated coverage on shares of Toast in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 price objective on the stock. Finally, Wells Fargo & Company upgraded shares of Toast from an "underweight" rating to an "overweight" rating and boosted their target price for the company from $30.00 to $39.00 in a report on Thursday, April 10th. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $40.26.

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.