Cary Street Partners Asset Management LLC Lowers Stock Holdings in Toast, Inc. (NYSE:TOST)

Cary Street Partners Asset Management LLC decreased its holdings in shares of Toast, Inc. (NYSE:TOST) by 19.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,460 shares of the company’s stock after selling 3,000 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in Toast were worth $353,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TOST. Northwestern Mutual Wealth Management Co. raised its stake in Toast by 1.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock worth $927,000 after purchasing an additional 421 shares during the period. Private Advisor Group LLC raised its position in shares of Toast by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock worth $797,000 after buying an additional 441 shares during the period. Farther Finance Advisors LLC boosted its holdings in Toast by 32.3% in the third quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after acquiring an additional 496 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Toast by 8.4% during the second quarter. Parkside Financial Bank & Trust now owns 6,742 shares of the company’s stock valued at $174,000 after acquiring an additional 520 shares during the period. Finally, Comerica Bank increased its stake in Toast by 10.9% during the first quarter. Comerica Bank now owns 6,167 shares of the company’s stock worth $154,000 after acquiring an additional 607 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Activity at Toast

In other Toast news, CRO Jonathan Vassil sold 1,367 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $42,486.36. Following the transaction, the executive now owns 39,834 shares of the company’s stock, valued at $1,238,040.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CRO Jonathan Vassil sold 1,367 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $42,486.36. Following the completion of the transaction, the executive now owns 39,834 shares of the company’s stock, valued at approximately $1,238,040.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the completion of the sale, the general counsel now directly owns 177,836 shares in the company, valued at approximately $5,404,436.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,375,651 shares of company stock valued at $38,150,212 in the last quarter. Insiders own 13.32% of the company’s stock.

Toast Stock Up 1.6 %

NYSE:TOST opened at $30.81 on Wednesday. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $31.57. The business’s 50 day moving average is $27.61 and its two-hundred day moving average is $25.77.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. As a group, equities analysts expect that Toast, Inc. will post -0.1 EPS for the current year.

Wall Street Analyst Weigh In

TOST has been the subject of a number of research reports. Wedbush upgraded Toast to a “strong-buy” rating in a report on Friday, September 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $27.00 price objective on shares of Toast in a research report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of Toast in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Stephens raised their price objective on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.30.

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.