Centaurus Financial Inc. Sells 3,300 Shares of Toast, Inc. (NYSE:TOST)

Centaurus Financial Inc. reduced its stake in Toast, Inc. (NYSE:TOST) by 12.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,900 shares of the company’s stock after selling 3,300 shares during the period. Centaurus Financial Inc.’s holdings in Toast were worth $677,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Makena Capital Management LLC lifted its holdings in Toast by 7.6% during the 3rd quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock worth $7,768,000 after purchasing an additional 19,371 shares in the last quarter. KBC Group NV lifted its holdings in shares of Toast by 66.5% in the third quarter. KBC Group NV now owns 42,838 shares of the company’s stock worth $1,213,000 after buying an additional 17,106 shares in the last quarter. Stephens Investment Management Group LLC boosted its position in shares of Toast by 13.1% in the third quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company’s stock valued at $53,358,000 after acquiring an additional 218,959 shares during the period. Entropy Technologies LP purchased a new position in Toast during the third quarter valued at approximately $894,000. Finally, Quest Partners LLC bought a new stake in Toast during the 3rd quarter worth approximately $1,391,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TOST has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Toast from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of Toast in a research note on Wednesday, August 7th. Compass Point initiated coverage on Toast in a research report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, BNP Paribas lowered shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and an average target price of $33.86.

Toast Price Performance

TOST opened at $43.00 on Tuesday. Toast, Inc. has a 1 year low of $14.00 and a 1 year high of $43.62. The stock’s 50 day simple moving average is $31.45 and its 200 day simple moving average is $27.21. The firm has a market cap of $20.25 billion, a price-to-earnings ratio of -330.77, a PEG ratio of 54.47 and a beta of 1.74.

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 300,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were 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 $5,404,436.04. This represents a 62.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Stephen Fredette sold 211,686 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the sale, the president now directly owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This trade represents a 7.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,498,536 shares of company stock valued at $43,997,467. 13.32% of the stock is currently owned by company insiders.

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.