Crestone Asset Management LLC Decreases Stock Position in Toast, Inc. (NYSE:TOST)

Crestone Asset Management LLC cut its position in shares of Toast, Inc. (NYSE:TOST) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,255 shares of the company’s stock after selling 5,848 shares during the period. Crestone Asset Management LLC’s holdings in Toast were worth $1,137,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TOST. Baystate Wealth Management LLC bought a new stake in Toast during the 3rd quarter valued at $29,000. BluePath Capital Management LLC acquired a new stake in shares of Toast in the 3rd quarter worth $30,000. SRS Capital Advisors Inc. purchased a new position in shares of Toast during the 3rd quarter worth $33,000. Larson Financial Group LLC boosted its position in shares of Toast by 8,181.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,822 shares of the company’s stock valued at $34,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Spire Wealth Management grew its holdings in shares of Toast by 481.6% in the third quarter. Spire Wealth Management now owns 1,838 shares of the company’s stock valued at $34,000 after purchasing an additional 1,522 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TOST. Redburn Atlantic raised shares of Toast from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Wednesday, February 7th. Wells Fargo & Company boosted their price target on shares of Toast from $17.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday. UBS Group increased their target price on Toast from $22.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Mizuho reiterated a “neutral” rating and issued a $17.00 price objective on shares of Toast in a report on Wednesday, March 27th. Finally, Needham & Company LLC lifted their price target on shares of Toast from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Toast presently has a consensus rating of “Hold” and an average price target of $25.35.

Toast Price Performance

NYSE:TOST traded up $3.09 during trading hours on Wednesday, reaching $26.82. 25,111,936 shares of the company were exchanged, compared to its average volume of 8,205,683. The stock has a 50 day simple moving average of $23.63 and a 200 day simple moving average of $19.52. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $27.31. The firm has a market cap of $12.10 billion, a price-to-earnings ratio of -52.90 and a beta of 1.77.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, meeting analysts’ consensus estimates of ($0.15). Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the business posted ($0.16) earnings per share. Toast’s revenue for the quarter was up 31.3% on a year-over-year basis. On average, analysts predict that Toast, Inc. will post -0.22 EPS for the current fiscal year.

Insider Activity at Toast

In related news, insider James Michael Matlock sold 1,205 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $28,197.00. Following the completion of the sale, the insider now owns 40,954 shares of the company’s stock, valued at $958,323.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CRO Jonathan Vassil sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the completion of the sale, the executive now directly owns 22,956 shares of the company’s stock, valued at approximately $579,409.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James Michael Matlock sold 1,205 shares of Toast stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $28,197.00. Following the completion of the transaction, the insider now owns 40,954 shares in the company, valued at $958,323.60. The disclosure for this sale can be found here. Insiders sold a total of 180,510 shares of company stock valued at $4,381,885 in the last quarter. Insiders own 13.32% of the company’s stock.

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.