UniSuper Management Pty Ltd Cuts Stake in Toast, Inc. (NYSE:TOST)

UniSuper Management Pty Ltd cut its holdings in Toast, Inc. (NYSE:TOST) by 20.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,500 shares of the company’s stock after selling 1,900 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Toast were worth $273,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TOST. Blue Trust Inc. lifted its position in shares of Toast by 120.4% in the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after purchasing an additional 378 shares during the period. Piscataqua Savings Bank purchased a new position in Toast in the fourth quarter valued at about $26,000. Stonebridge Financial Group LLC purchased a new position in Toast in the fourth quarter valued at about $34,000. SBI Securities Co. Ltd. bought a new position in Toast in the fourth quarter worth about $35,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Toast in the 4th quarter valued at about $40,000. 82.91% of the stock is currently owned by institutional investors.

Toast Trading Down 1.2 %

Shares of TOST opened at $33.18 on Tuesday. The firm has a market cap of $16.39 billion, a P/E ratio of -3,314.49, a PEG ratio of 2.16 and a beta of 1.99. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $44.12. The stock’s 50 day moving average is $37.63 and its two-hundred day moving average is $35.60.

Toast (NYSE:TOST) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. Equities research analysts forecast that Toast, Inc. will post 0.39 EPS for the current year.

Insider Transactions at Toast

In other news, President Stephen Fredette sold 44,056 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.15, for a total transaction of $1,548,568.40. Following the completion of the sale, the president now owns 1,447,717 shares of the company’s stock, valued at $50,887,252.55. This represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher P. Comparato sold 70,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the completion of the transaction, the director now directly owns 164,796 shares in the company, valued at approximately $5,884,865.16. This represents a 29.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 270,770 shares of company stock valued at $9,409,211 over the last 90 days. Corporate insiders own 13.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TOST shares. Wells Fargo & Company increased their target price on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. upped their price target on shares of Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. The Goldman Sachs Group set a $40.00 price objective on shares of Toast and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada upped their target price on Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Toast in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $40.48.

Toast 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.