Ieq Capital LLC Sells 473,343 Shares of Toast, Inc. (NYSE:TOST)

Ieq Capital LLC lowered its stake in Toast, Inc. (NYSE:TOST) by 66.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 238,356 shares of the company’s stock after selling 473,343 shares during the quarter. Ieq Capital LLC’s holdings in Toast were worth $8,688,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. increased its position in Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after purchasing an additional 378 shares in the last quarter. Piscataqua Savings Bank bought a new stake in shares of Toast during the fourth quarter worth $26,000. Stonebridge Financial Group LLC acquired a new position in shares of Toast during the fourth quarter worth $34,000. Wingate Wealth Advisors Inc. bought a new position in shares of Toast in the 4th quarter valued at $40,000. Finally, Raleigh Capital Management Inc. boosted its holdings in shares of Toast by 93.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock valued at $42,000 after acquiring an additional 720 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Stock Performance

Shares of TOST stock opened at $40.45 on Friday. Toast, Inc. has a fifty-two week low of $20.49 and a fifty-two week high of $44.12. The stock has a 50 day simple moving average of $38.60 and a two-hundred day simple moving average of $33.35. The company has a market cap of $19.05 billion, a P/E ratio of -311.12, a PEG ratio of 2.27 and a beta of 1.98.

Toast (NYSE:TOST) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. On average, research analysts predict that Toast, Inc. will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 1,068 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the transaction, the president now owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Yuan sold 189,785 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $43.01, for a total value of $8,162,652.85. Following the completion of the sale, the director now directly owns 198,829 shares of the company’s stock, valued at $8,551,635.29. This trade represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 339,564 shares of company stock worth $13,577,845. 13.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TOST shares. The Goldman Sachs Group lowered their target price on Toast from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Robert W. Baird boosted their price target on Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday. UBS Group raised their price objective on shares of Toast from $41.00 to $47.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Piper Sandler upped their price target on shares of Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.23.

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.