Kayne Anderson Rudnick Investment Management LLC Sells 70,011 Shares of Toast, Inc. (NYSE:TOST)

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,101,590 shares of the company's stock after selling 70,011 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.23% of Toast worth $40,153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ossiam grew its holdings in shares of Toast by 511.5% during the 4th quarter. Ossiam now owns 3,443 shares of the company's stock worth $125,000 after purchasing an additional 2,880 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Toast by 1,527.7% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 103,832 shares of the company's stock valued at $3,785,000 after acquiring an additional 97,453 shares during the last quarter. Forum Financial Management LP acquired a new stake in Toast during the 4th quarter worth $203,000. Freedom Investment Management Inc. acquired a new position in Toast during the fourth quarter worth approximately $282,000. Finally, Commerce Bank purchased a new stake in shares of Toast in the fourth quarter valued at about $31,305,000. Institutional investors and hedge funds own 82.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Royal Bank of Canada raised their price target on Toast from $40.00 to $45.00 and gave the company a "sector perform" rating in a research report on Thursday, February 20th. Evercore ISI assumed coverage on Toast in a research note on Wednesday, April 9th. They set an "in-line" rating and a $29.00 price objective for the company. Canaccord Genuity Group lifted their target price on Toast from $43.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Morgan Stanley cut their price objective on shares of Toast from $50.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of Toast from $36.00 to $42.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Toast currently has an average rating of "Hold" and a consensus target price of $40.26.

Insider Activity at Toast

In related news, CFO Elena Gomez sold 2,052 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $81,320.76. Following the completion of the sale, the chief financial officer now owns 160,498 shares in the company, valued at approximately $6,360,535.74. This trade represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Christopher P. Comparato sold 70,000 shares of the business's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $34.21, for a total transaction of $2,394,700.00. Following the sale, the director now directly owns 179,316 shares in the company, valued at $6,134,400.36. The trade was a 28.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 340,770 shares of company stock valued at $11,803,911 over the last three months. 13.32% of the stock is owned by insiders.

Toast Stock Performance

Shares of NYSE TOST traded up $0.17 during midday trading on Friday, reaching $36.12. 6,737,662 shares of the company traded hands, compared to its average volume of 6,818,246. The firm has a market cap of $17.84 billion, a PE ratio of -3,608.39, a PEG ratio of 2.16 and a beta of 2.00. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $44.12. The stock's 50-day simple moving average is $35.06 and its 200-day simple moving average is $36.21.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share 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 for the quarter, compared to the consensus estimate of $1.32 billion. On average, equities research analysts expect that Toast, Inc. will post 0.39 EPS for the current year.

Toast Company 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.