Ieq Capital LLC Sells 1,531 Shares of Toast, Inc. (NYSE:TOST)

Ieq Capital LLC lessened its stake in shares of Toast, Inc. (NYSE:TOST) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 558,405 shares of the company’s stock after selling 1,531 shares during the quarter. Ieq Capital LLC owned approximately 0.12% of Toast worth $14,390,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Toast by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after purchasing an additional 1,598,248 shares during the last quarter. Capital International Investors grew its position in shares of Toast by 12.2% in the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after buying an additional 3,574,397 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Toast by 21.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after acquiring an additional 3,445,788 shares in the last quarter. Abdiel Capital Advisors LP lifted its position in Toast by 0.3% during the fourth quarter. Abdiel Capital Advisors LP now owns 10,913,464 shares of the company’s stock valued at $199,280,000 after acquiring an additional 37,091 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its stake in Toast by 9.1% in the first quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock valued at $248,611,000 after acquiring an additional 833,390 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Toast Stock Up 2.5 %

Shares of TOST stock opened at $26.97 on Friday. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $27.90. The stock has a market cap of $12.43 billion, a PE ratio of -53.94 and a beta of 1.75. The business has a 50-day simple moving average of $25.03 and a 200-day simple moving average of $24.56.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. Toast’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.19) earnings per share. Sell-side analysts anticipate that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

TOST has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $30.00 price objective on shares of Toast in a report on Wednesday, August 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $27.00 price target on shares of Toast in a report on Wednesday, August 7th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $26.00 price objective on shares of Toast in a report on Wednesday, May 29th. Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $21.00 to $33.00 in a research report on Thursday, July 18th. Finally, Stephens reissued an “equal weight” rating and set a $28.00 target price on shares of Toast in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.33.

Insider Buying and Selling

In other Toast news, CEO Aman Narang sold 6,355 shares of Toast stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total value of $162,942.20. Following the completion of the transaction, the chief executive officer now owns 1,131,043 shares of the company’s stock, valued at $28,999,942.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, President Stephen Fredette sold 101,574 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $25.73, for a total transaction of $2,613,499.02. Following the completion of the transaction, the president now directly owns 2,395,685 shares of the company’s stock, valued at approximately $61,640,975.05. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Aman Narang sold 6,355 shares of Toast stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total transaction of $162,942.20. Following the completion of the sale, the chief executive officer now directly owns 1,131,043 shares in the company, valued at approximately $28,999,942.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 651,612 shares of company stock valued at $16,191,520. Corporate 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.