Susquehanna Fundamental Investments LLC Trims Holdings in Toast, Inc. (NYSE:TOST)

Susquehanna Fundamental Investments LLC cut its stake in Toast, Inc. (NYSE:TOST) by 72.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 56,392 shares of the company’s stock after selling 147,364 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Toast were worth $1,453,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in TOST. US Bancorp DE grew its position in shares of Toast by 37.5% in the fourth quarter. US Bancorp DE now owns 52,142 shares of the company’s stock valued at $952,000 after purchasing an additional 14,221 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Toast by 76.7% during the fourth quarter. Hsbc Holdings PLC now owns 90,222 shares of the company’s stock valued at $1,651,000 after buying an additional 39,166 shares during the period. TD Asset Management Inc boosted its stake in Toast by 7.0% during the fourth quarter. TD Asset Management Inc now owns 115,148 shares of the company’s stock valued at $2,103,000 after buying an additional 7,500 shares during the period. Treasurer of the State of North Carolina boosted its stake in Toast by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 157,138 shares of the company’s stock valued at $2,869,000 after buying an additional 1,540 shares during the period. Finally, Bank of Nova Scotia bought a new stake in Toast during the fourth quarter valued at $332,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TOST. Bank of America lifted their price objective on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Wedbush raised Toast to a “strong-buy” rating in a research note on Friday, September 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $27.00 price target on shares of Toast in a research note on Wednesday, August 7th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $29.00 price target on shares of Toast in a research note on Thursday, September 12th. Finally, Morgan Stanley lifted their price target on Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Toast Stock Performance

TOST stock opened at $28.57 on Wednesday. The business’s 50 day moving average price is $25.19 and its two-hundred day moving average price is $24.71. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $29.92. The company has a market capitalization of $13.17 billion, a price-to-earnings ratio of -57.13 and a beta of 1.75.

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

Insider Transactions at Toast

In other news, CEO Aman Narang sold 1,856 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $44,544.00. Following the sale, the chief executive officer now directly owns 1,132,708 shares of the company’s stock, valued at approximately $27,184,992. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Aman Narang sold 1,856 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $44,544.00. Following the transaction, the chief executive officer now directly owns 1,132,708 shares of the company’s stock, valued at approximately $27,184,992. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Fredette sold 181,304 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $28.56, for a total value of $5,178,042.24. Following the completion of the transaction, the president now directly owns 1,897,378 shares in the company, valued at $54,189,115.68. The disclosure for this sale can be found here. Insiders have sold a total of 955,019 shares of company stock valued at $24,770,520 in the last ninety days. 13.32% of the stock is currently 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.