Greenhouse Funds LLLP Sells 872,099 Shares of Toast, Inc. (NYSE:TOST)

Greenhouse Funds LLLP reduced its position in Toast, Inc. (NYSE:TOST - Free Report) by 32.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,835,098 shares of the company's stock after selling 872,099 shares during the quarter. Toast comprises approximately 2.8% of Greenhouse Funds LLLP's portfolio, making the stock its 20th biggest position. Greenhouse Funds LLLP owned approximately 0.39% of Toast worth $66,889,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. increased its holdings in shares of Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company's stock valued at $25,000 after purchasing an additional 378 shares during the period. Piscataqua Savings Bank purchased a new stake in Toast during the fourth quarter worth about $26,000. Stonebridge Financial Group LLC acquired a new stake in Toast in the fourth quarter valued at $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of Toast in the 4th quarter worth about $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Toast in the 4th quarter valued at about $40,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Toast

In other news, General Counsel Brian R. Elworthy sold 653 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the transaction, the general counsel now owns 209,206 shares of the company's stock, valued at $8,290,833.78. This represents a 0.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elena Gomez sold 2,052 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $81,320.76. Following the sale, the chief financial officer now directly owns 160,498 shares in the company, valued at $6,360,535.74. This trade represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 340,770 shares of company stock worth $11,803,911. 13.32% of the stock is owned by corporate insiders.

Toast Stock Performance

Shares of TOST opened at $35.92 on Friday. The business's fifty day moving average is $35.06 and its 200-day moving average is $36.21. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The firm has a market cap of $17.74 billion, a price-to-earnings ratio of -3,588.41, a PEG ratio of 2.16 and a beta of 2.00.

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 business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. As a group, research analysts forecast that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

TOST has been the subject of several recent research reports. Oppenheimer started coverage on Toast in a research report on Friday, January 24th. They set an "outperform" rating and a $46.00 price target for the company. JPMorgan Chase & Co. upped their target price on shares of Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. The Goldman Sachs Group lowered their price target on shares of Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Wolfe Research upgraded shares of Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 target price on the stock in a research report on Wednesday. Finally, Morgan Stanley cut their price target on Toast from $50.00 to $46.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price 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.