Independent Family Office LLC Sells 49,275 Shares of Toast, Inc. (NYSE:TOST)

Independent Family Office LLC decreased its stake in shares of Toast, Inc. (NYSE:TOST) by 14.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 285,000 shares of the company’s stock after selling 49,275 shares during the quarter. Toast comprises about 5.4% of Independent Family Office LLC’s portfolio, making the stock its 5th biggest holding. Independent Family Office LLC’s holdings in Toast were worth $10,388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TOST. ValueAct Holdings L.P. acquired a new position in shares of Toast during the 3rd quarter worth approximately $438,301,000. FMR LLC increased its position in shares of Toast by 50.5% during the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after purchasing an additional 8,205,053 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Toast by 129,058.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company’s stock worth $75,466,000 after purchasing an additional 2,072,680 shares during the last quarter. Perpetual Ltd acquired a new position in shares of Toast during the 4th quarter worth approximately $60,878,000. Finally, Worldquant Millennium Advisors LLC increased its holdings in shares of Toast by 1,475.0% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company’s stock worth $24,091,000 after acquiring an additional 796,936 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Buying and Selling

In related news, CRO Jonathan Vassil sold 1,006 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $39,867.78. Following the completion of the sale, the executive now directly owns 48,488 shares in the company, valued at $1,921,579.44. This represents a 2.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the transaction, the general counsel now directly owns 209,206 shares of the company’s stock, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,641 shares of company stock worth $8,937,776 in the last ninety days. 13.32% of the stock is owned by insiders.

Toast Stock Performance

NYSE:TOST opened at $34.78 on Tuesday. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12. The company has a market cap of $17.18 billion, a price-to-earnings ratio of -3,474.23, a PEG ratio of 2.16 and a beta of 1.99. The stock has a fifty day moving average price of $38.05 and a 200-day moving average price of $34.78.

Toast (NYSE:TOST) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Research analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TOST shares. Canaccord Genuity Group boosted their target price on Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Toast in a report on Thursday, February 20th. Royal Bank of Canada boosted their target price on Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. DA Davidson reissued a “neutral” rating and set a $38.00 target price (down from $44.00) on shares of Toast in a report on Thursday, December 5th. Finally, Oppenheimer assumed coverage on Toast in a report on Friday, January 24th. They set an “outperform” rating and a $46.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $40.48.

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.