Edgestream Partners L.P. Trims Stake in Toast, Inc. $TOST

Edgestream Partners L.P. cut its holdings in Toast, Inc. (NYSE:TOST) by 81.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,806 shares of the company’s stock after selling 125,543 shares during the period. Edgestream Partners L.P.’s holdings in Toast were worth $1,232,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Roundview Capital LLC raised its holdings in Toast by 0.6% in the 2nd quarter. Roundview Capital LLC now owns 43,619 shares of the company’s stock worth $1,932,000 after purchasing an additional 245 shares during the period. GAMMA Investing LLC raised its stake in shares of Toast by 7.2% in the second quarter. GAMMA Investing LLC now owns 4,139 shares of the company’s stock worth $183,000 after buying an additional 278 shares during the period. True Vision MN LLC lifted its position in shares of Toast by 3.6% during the 2nd quarter. True Vision MN LLC now owns 8,186 shares of the company’s stock valued at $363,000 after buying an additional 285 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Toast by 7.3% during the 1st quarter. Advisors Asset Management Inc. now owns 4,439 shares of the company’s stock valued at $147,000 after acquiring an additional 301 shares during the period. Finally, Parkside Financial Bank & Trust grew its stake in shares of Toast by 4.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 6,921 shares of the company’s stock valued at $307,000 after acquiring an additional 306 shares during the period. Institutional investors own 82.91% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Aman Narang sold 1,732 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total transaction of $61,555.28. Following the sale, the chief executive officer directly owned 319,939 shares of the company’s stock, valued at $11,370,632.06. This represents a 0.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jonathan Vassil sold 1,442 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $51,248.68. Following the completion of the transaction, the executive directly owned 71,424 shares of the company’s stock, valued at approximately $2,538,408.96. This trade represents a 1.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 49,759 shares of company stock worth $1,769,270. Insiders own 12.14% of the company’s stock.

Toast Stock Up 1.4%

Shares of TOST stock opened at $35.68 on Friday. The company’s fifty day simple moving average is $36.11 and its two-hundred day simple moving average is $40.86. Toast, Inc. has a 52 week low of $28.12 and a 52 week high of $49.66. The stock has a market cap of $18.38 billion, a P/E ratio of 82.98 and a beta of 1.94.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Toast had a net margin of 4.68% and a return on equity of 15.77%. The company’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. On average, analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Wolfe Research reaffirmed an “outperform” rating and set a $48.00 price target on shares of Toast in a report on Wednesday, November 5th. Robert W. Baird lowered their target price on shares of Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. BNP Paribas raised Toast from a “hold” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Monday. Finally, DA Davidson set a $42.00 price objective on Toast in a research report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Toast presently has an average rating of “Moderate Buy” and an average price target of $45.18.

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.