Sterling Capital Management LLC Has $267,000 Stake in Toast, Inc. (NYSE:TOST)

Sterling Capital Management LLC cut its position in Toast, Inc. (NYSE:TOST) by 9.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,317 shares of the company’s stock after selling 786 shares during the quarter. Sterling Capital Management LLC’s holdings in Toast were worth $267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its position in Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after purchasing an additional 378 shares in the last quarter. Piscataqua Savings Bank acquired a new position in shares of Toast during the 4th quarter worth $26,000. Stonebridge Financial Group LLC acquired a new stake 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 valued at about $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Toast during the fourth quarter worth about $40,000. Institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

TOST stock opened at $34.30 on Monday. The stock’s 50 day simple moving average is $35.43 and its 200 day simple moving average is $36.20. The company has a market cap of $16.95 billion, a P/E ratio of -3,426.97, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12.

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

Insider Buying and Selling

In other news, Director Christopher P. Comparato sold 70,000 shares of the stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $34.21, for a total value of $2,394,700.00. Following the completion of the sale, the director now directly owns 179,316 shares of the company’s stock, valued at $6,134,400.36. This represents a 28.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Stephen Fredette sold 70,340 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $33.87, for a total value of $2,382,415.80. Following the completion of the transaction, the president now owns 1,574,316 shares in the company, valued at $53,322,082.92. This represents a 4.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 340,770 shares of company stock worth $11,803,911 in the last quarter. Insiders own 13.32% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TOST shares. JPMorgan Chase & Co. raised 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. BMO Capital Markets boosted their target price 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. The Goldman Sachs Group dropped their price target on Toast from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Canaccord Genuity Group boosted their price objective on Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Morgan Stanley dropped their target price on Toast from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.09.

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.