Bogart Wealth LLC Cuts Stock Holdings in Toast, Inc. (NYSE:TOST)

Bogart Wealth LLC lessened its holdings in Toast, Inc. (NYSE:TOST) by 36.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,573 shares of the company’s stock after selling 1,500 shares during the period. Bogart Wealth LLC’s holdings in Toast were worth $73,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Taylor Frigon Capital Management LLC purchased a new stake in Toast during the third quarter worth $1,277,000. International Assets Investment Management LLC boosted its position in Toast by 2,731.0% during the third quarter. International Assets Investment Management LLC now owns 95,971 shares of the company’s stock valued at $2,717,000 after purchasing an additional 92,581 shares in the last quarter. Private Advisor Group LLC grew its stake in Toast by 1.6% in the third quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock valued at $797,000 after purchasing an additional 441 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in Toast by 93.4% in the third quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 720 shares in the last quarter. Finally, 1858 Wealth Management LLC purchased a new stake in shares of Toast during the third quarter valued at about $209,000. 82.91% of the stock is currently owned by institutional investors.

Toast Stock Up 2.7 %

Toast stock opened at $30.03 on Friday. The firm has a market cap of $13.84 billion, a price-to-earnings ratio of -103.55 and a beta of 1.76. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $30.70. The business’s 50-day moving average price is $26.66 and its 200 day moving average price is $25.33.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.04. The company 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%. The firm’s revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.19) earnings per share. Equities analysts expect that Toast, Inc. will post -0.1 EPS for the current year.

Insider Buying and Selling

In other Toast news, CFO Elena Gomez sold 31,248 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $30.37, for a total value of $949,001.76. Following the sale, the chief financial officer now directly owns 157,620 shares of the company’s stock, valued at approximately $4,786,919.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Elena Gomez sold 31,248 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $30.37, for a total transaction of $949,001.76. Following the completion of the sale, the chief financial officer now owns 157,620 shares of the company’s stock, valued at $4,786,919.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Fredette sold 1,127 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $27,048.00. Following the transaction, the president now owns 2,849,709 shares of the company’s stock, valued at approximately $68,393,016. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,387,269 shares of company stock valued at $38,394,140. 13.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $30.00 price objective on shares of Toast in a research note on Wednesday, August 7th. Robert W. Baird increased their price objective on Toast from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $21.00 to $33.00 in a research note on Thursday, July 18th. The Goldman Sachs Group raised their price target on Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $27.00 price objective on shares of Toast in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.94.

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.