Janney Montgomery Scott LLC Sells 60,534 Shares of Toast, Inc. (NYSE:TOST)

Janney Montgomery Scott LLC trimmed its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 61.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,413 shares of the company's stock after selling 60,534 shares during the period. Janney Montgomery Scott LLC's holdings in Toast were worth $1,087,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. West Branch Capital LLC acquired a new stake in shares of Toast during the 2nd quarter valued at about $26,000. LRI Investments LLC acquired a new position in shares of Toast during the 1st quarter worth $27,000. Toth Financial Advisory Corp bought a new position in shares of Toast during the 3rd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Toast in the 2nd quarter valued at $33,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Toast in the second quarter worth $34,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Price Performance

Shares of Toast stock traded up $0.24 during trading on Friday, hitting $40.60. 7,871,367 shares of the company's stock traded hands, compared to its average volume of 7,306,767. Toast, Inc. has a twelve month low of $13.77 and a twelve month high of $41.05. The firm's fifty day moving average price is $29.75 and its 200 day moving average price is $26.53. The company has a market cap of $19.12 billion, a PE ratio of -312.35 and a beta of 1.74.

Analysts Set New Price Targets

TOST has been the subject of a number of analyst reports. Piper Sandler boosted their price target on Toast from $25.00 to $35.00 and gave the stock a "neutral" rating in a research report on Monday, November 11th. Morgan Stanley boosted their target price on Toast from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Stephens increased their price target on Toast from $28.00 to $30.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. Royal Bank of Canada boosted their price objective on shares of Toast from $27.00 to $40.00 and gave the stock a "sector perform" rating in a research note on Friday, November 8th. Finally, Bank of America raised their target price on shares of Toast from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $32.75.

Insider Activity at Toast

In related news, President Stephen Fredette sold 211,686 shares of Toast stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the transaction, the president now directly owns 2,638,023 shares of the company's stock, valued at $62,178,202.11. The trade was a 7.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Aman Narang sold 10,106 shares of the business's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $280,643.62. Following the completion of the transaction, the chief executive officer now directly owns 968,095 shares of the company's stock, valued at approximately $26,883,998.15. This represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,575,651 shares of company stock valued at $45,472,212 in the last 90 days. 13.32% of the stock is owned by corporate insiders.

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.