Virtu Financial LLC Has $323,000 Position in Toast, Inc. (NYSE:TOST)

Virtu Financial LLC reduced its holdings in Toast, Inc. (NYSE:TOST) by 53.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,669 shares of the company’s stock after selling 19,927 shares during the quarter. Virtu Financial LLC’s holdings in Toast were worth $323,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TOST. Envestnet Portfolio Solutions Inc. increased its stake in Toast by 5.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock valued at $255,000 after purchasing an additional 774 shares in the last quarter. Treasurer of the State of North Carolina increased its position in shares of Toast by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 155,598 shares of the company’s stock worth $2,914,000 after acquiring an additional 790 shares in the last quarter. Orion Capital Management LLC increased its position in shares of Toast by 22.5% during the fourth quarter. Orion Capital Management LLC now owns 4,350 shares of the company’s stock worth $79,000 after acquiring an additional 800 shares in the last quarter. M&T Bank Corp increased its position in shares of Toast by 8.0% during the fourth quarter. M&T Bank Corp now owns 11,217 shares of the company’s stock worth $205,000 after acquiring an additional 829 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Toast by 1.7% during the third quarter. Hsbc Holdings PLC now owns 51,056 shares of the company’s stock worth $956,000 after acquiring an additional 855 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Toast

In other news, CRO Jonathan Vassil sold 50,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $25.79, for a total transaction of $1,289,500.00. Following the completion of the sale, the executive now owns 26,897 shares in the company, valued at approximately $693,673.63. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CRO Jonathan Vassil sold 50,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $25.79, for a total transaction of $1,289,500.00. Following the transaction, the executive now directly owns 26,897 shares of the company’s stock, valued at $693,673.63. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Stephen Fredette sold 2,272 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $53,164.80. Following the transaction, the president now directly owns 2,835,759 shares in the company, valued at $66,356,760.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 142,223 shares of company stock worth $3,458,694. 13.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Toast from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, April 15th. BNP Paribas raised shares of Toast from a “neutral” rating to an “outperform” rating and set a $30.00 target price for the company in a research report on Thursday, March 7th. Wells Fargo & Company raised their target price on shares of Toast from $17.00 to $19.00 and gave the company an “underweight” rating in a research report on Wednesday, May 8th. UBS Group raised their target price on shares of Toast from $22.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Finally, Evercore ISI assumed coverage on shares of Toast in a research report on Monday, March 4th. They issued an “outperform” rating and a $32.00 target price for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Toast presently has an average rating of “Hold” and a consensus price target of $26.14.

Toast Stock Performance

NYSE TOST opened at $25.53 on Friday. The firm has a 50-day moving average of $24.13 and a 200-day moving average of $21.56. The stock has a market cap of $11.57 billion, a PE ratio of -51.06 and a beta of 1.75. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $27.90.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.15). The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. Toast’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.16) EPS. As a group, analysts predict that Toast, Inc. will post -0.14 EPS for the current fiscal year.

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.