Romano Brothers AND Company Sells 1,563 Shares of Toast, Inc. (NYSE:TOST)

Romano Brothers AND Company cut its holdings in shares of Toast, Inc. (NYSE:TOST) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,900 shares of the company’s stock after selling 1,563 shares during the quarter. Romano Brothers AND Company’s holdings in Toast were worth $988,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital International Investors lifted its position in Toast by 12.2% during the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after purchasing an additional 3,574,397 shares during the period. Price T Rowe Associates Inc. MD boosted its position 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. Champlain Investment Partners LLC increased 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 during the last quarter. Whale Rock Capital Management LLC acquired a new position in Toast during the first quarter valued at approximately $179,111,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Toast by 4.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,880,795 shares of the company’s stock worth $171,469,000 after purchasing an additional 280,418 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Toast news, CRO Jonathan Vassil sold 1,541 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $36,984.00. Following the transaction, the executive now directly owns 33,312 shares in the company, valued at approximately $799,488. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CRO Jonathan Vassil sold 1,541 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $36,984.00. Following the transaction, the executive now owns 33,312 shares of the company’s stock, valued at $799,488. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Stephen Fredette sold 1,127 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $27,048.00. Following the completion of the sale, the president now directly owns 2,849,709 shares of the company’s stock, valued at $68,393,016. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,387,269 shares of company stock worth $38,394,140. 13.32% of the stock is owned by corporate insiders.

Toast Stock Performance

Shares of NYSE TOST opened at $30.03 on Friday. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $30.70. The company’s 50 day moving average price is $26.66 and its 200-day moving average price is $25.33. The company has a market capitalization of $13.84 billion, a P/E ratio of -103.55 and a beta of 1.76.

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

Analyst Upgrades and Downgrades

TOST has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $27.00 target price on shares of Toast in a report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and issued a $30.00 price target on shares of Toast in a research note on Wednesday, August 7th. Morgan Stanley increased their price objective on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Mizuho raised shares of 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.