Raymond James & Associates Sells 9,911 Shares of Toast, Inc. (NYSE:TOST)

Raymond James & Associates reduced its stake in Toast, Inc. (NYSE:TOST) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 397,862 shares of the company’s stock after selling 9,911 shares during the period. Raymond James & Associates’ holdings in Toast were worth $11,263,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new stake in Toast in the first quarter valued at $5,078,000. QRG Capital Management Inc. grew its holdings in shares of Toast by 39.7% in the 2nd quarter. QRG Capital Management Inc. now owns 84,967 shares of the company’s stock worth $2,190,000 after purchasing an additional 24,164 shares during the last quarter. Epoch Investment Partners Inc. acquired a new stake in shares of Toast during the 1st quarter worth about $633,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Toast by 15.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 483,140 shares of the company’s stock valued at $12,040,000 after purchasing an additional 65,654 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Toast by 4.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,880,795 shares of the company’s stock valued at $171,469,000 after buying an additional 280,418 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Wedbush raised Toast to a “strong-buy” rating in a research note on Friday, September 6th. The Goldman Sachs Group increased their target price on Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price target on shares of Toast in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.94.

Insider Transactions at Toast

In other Toast news, CFO Elena Gomez sold 2,162 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $51,888.00. Following the completion of the transaction, the chief financial officer now directly owns 183,931 shares of the company’s stock, valued at approximately $4,414,344. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Toast news, CFO Elena Gomez sold 2,162 shares of Toast stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $51,888.00. Following the transaction, the chief financial officer now owns 183,931 shares of the company’s stock, valued at approximately $4,414,344. The trade was a 0.00 % 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, General Counsel Brian R. Elworthy sold 300,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the completion of the transaction, the general counsel now owns 177,836 shares of the company’s stock, valued at $5,404,436.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,387,269 shares of company stock valued at $38,394,140 over the last three months. 13.32% of the stock is currently owned by corporate insiders.

Toast Trading Up 2.1 %

Shares of TOST opened at $30.12 on Tuesday. The stock has a market cap of $13.88 billion, a P/E ratio of -103.84 and a beta of 1.76. Toast, Inc. has a 1 year low of $13.77 and a 1 year high of $30.78. The stock’s 50-day moving average price is $26.75 and its two-hundred day moving average price is $25.40.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. Toast’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.19) EPS. As a group, equities analysts forecast that Toast, Inc. will post -0.1 EPS for the current year.

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.