Toast, Inc. (NYSE:TOST) Position Trimmed by Trevian Wealth Management LLC

Trevian Wealth Management LLC decreased its position in Toast, Inc. (NYSE:TOST - Free Report) by 52.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,277 shares of the company's stock after selling 26,100 shares during the period. Toast comprises 0.6% of Trevian Wealth Management LLC's investment portfolio, making the stock its 15th biggest position. Trevian Wealth Management LLC's holdings in Toast were worth $848,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. FMR LLC increased its stake in shares of Toast by 50.5% during the third quarter. FMR LLC now owns 24,449,743 shares of the company's stock worth $692,172,000 after purchasing an additional 8,205,053 shares in the last quarter. ValueAct Holdings L.P. purchased a new stake in shares of Toast during the third quarter worth about $438,301,000. State Street Corp boosted its position in Toast by 2.5% during the third quarter. State Street Corp now owns 8,325,292 shares of the company's stock worth $235,689,000 after acquiring an additional 206,789 shares during the last quarter. Geode Capital Management LLC boosted its position in Toast by 2.3% during the third quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company's stock worth $193,992,000 after acquiring an additional 155,212 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Toast by 2,889.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company's stock worth $108,427,000 after acquiring an additional 3,701,893 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Analyst Ratings Changes

TOST has been the topic of several recent analyst reports. BMO Capital Markets initiated coverage on shares of Toast in a report on Monday, January 6th. They issued an "outperform" rating and a $45.00 target price on the stock. The Goldman Sachs Group decreased their price objective on shares of Toast from $45.00 to $40.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Compass Point assumed coverage on shares of Toast in a research note on Wednesday, November 20th. They set a "buy" rating and a $49.00 target price on the stock. DA Davidson reissued a "neutral" rating and issued a $38.00 price objective (down from $44.00) on shares of Toast in a research report on Thursday, December 5th. Finally, Stephens increased their price objective on shares of Toast from $28.00 to $30.00 and gave the company an "equal weight" rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Toast currently has an average rating of "Hold" and a consensus price target of $35.74.

Toast Price Performance

Shares of TOST stock traded up $0.37 during mid-day trading on Thursday, hitting $40.41. The stock had a trading volume of 4,066,740 shares, compared to its average volume of 4,707,669. Toast, Inc. has a fifty-two week low of $17.65 and a fifty-two week high of $44.12. The firm has a market cap of $19.03 billion, a PE ratio of -310.85, a PEG ratio of 2.05 and a beta of 1.97. The company's 50-day simple moving average is $38.71 and its 200-day simple moving average is $31.77.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.06. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. During the same quarter last year, the firm posted ($0.09) EPS. On average, analysts expect that Toast, Inc. will post 0.03 EPS for the current year.

Insider Buying and Selling at Toast

In other news, Director David Yuan sold 189,785 shares of Toast stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the completion of the sale, the director now directly owns 198,829 shares in the company, valued at $8,551,635.29. The trade was a 48.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Aman Narang sold 1,646 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $31.08, for a total transaction of $51,157.68. Following the completion of the sale, the chief executive officer now directly owns 969,970 shares in the company, valued at $30,146,667.60. This represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 562,600 shares of company stock worth $21,823,932. 13.32% of the stock is owned by corporate insiders.

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.