Bank of Montreal Can Reduces Holdings in Toast, Inc. (NYSE:TOST)

Bank of Montreal Can lessened its holdings in Toast, Inc. (NYSE:TOST) by 62.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,473 shares of the company’s stock after selling 41,134 shares during the period. Bank of Montreal Can’s holdings in Toast were worth $892,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Barclays PLC lifted its stake in Toast by 38.0% in the 3rd quarter. Barclays PLC now owns 309,426 shares of the company’s stock valued at $8,758,000 after buying an additional 85,171 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Toast in the third quarter valued at $327,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Toast during the third quarter valued at $59,000. Tidal Investments LLC increased its position in Toast by 5.4% during the 3rd quarter. Tidal Investments LLC now owns 14,310 shares of the company’s stock worth $405,000 after purchasing an additional 734 shares in the last quarter. Finally, Synovus Financial Corp acquired a new position in Toast in the 3rd quarter valued at about $425,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TOST has been the topic of several analyst reports. BMO Capital Markets raised their price target on shares of Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Canaccord Genuity Group lifted their target price on shares of Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their price target on Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. BNP Paribas set a $37.00 price objective on Toast and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Toast in a research report on Thursday, February 20th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Toast currently has a consensus rating of “Hold” and a consensus price target of $40.09.

Insider Activity

In other Toast news, CRO Jonathan Vassil sold 1,006 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $39,867.78. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the sale, the general counsel now directly owns 209,206 shares of the company’s stock, valued at $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 340,770 shares of company stock worth $11,803,911 over the last ninety days. Corporate insiders own 13.32% of the company’s stock.

Toast Stock Performance

Toast stock opened at $34.30 on Friday. The firm has a market capitalization of $16.95 billion, a PE ratio of -3,426.97, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. Toast, Inc. has a one year low of $21.32 and a one year high of $44.12. The stock’s 50 day moving average price is $35.43 and its 200 day moving average price is $36.14.

Toast (NYSE:TOST) last announced its earnings results 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 net margin of 0.40% and a return on equity of 1.54%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. On average, analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

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.