Clearstead Advisors LLC Sells 10,947 Shares of Toast, Inc. (NYSE:TOST)

Clearstead Advisors LLC lowered its position in shares of Toast, Inc. (NYSE:TOST – Get Rating) by 31.0% in the third quarter, HoldingsChannel reports. The fund owned 24,335 shares of the company’s stock after selling 10,947 shares during the period. Clearstead Advisors LLC’s holdings in Toast were worth $407,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Neo Ivy Capital Management acquired a new stake in shares of Toast during the third quarter worth $45,000. American International Group Inc. acquired a new stake in shares of Toast during the second quarter worth $46,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Toast during the second quarter worth $72,000. Captrust Financial Advisors grew its stake in shares of Toast by 44.8% during the first quarter. Captrust Financial Advisors now owns 4,866 shares of the company’s stock worth $106,000 after purchasing an additional 1,505 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Toast during the second quarter worth $118,000. Institutional investors own 50.82% of the company’s stock.

Toast Stock Up 2.0 %

TOST stock opened at $17.73 on Wednesday. The business has a 50-day moving average of $20.51 and a 200-day moving average of $19.40. Toast, Inc. has a fifty-two week low of $11.91 and a fifty-two week high of $26.03.

Toast (NYSE:TOST – Get Rating) last posted its quarterly earnings data on Thursday, February 16th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The firm had revenue of $769.00 million for the quarter, compared to analyst estimates of $753.13 million. Toast had a negative return on equity of 24.30% and a negative net margin of 10.03%. The firm’s quarterly revenue was up 50.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.46) earnings per share. On average, equities analysts predict that Toast, Inc. will post -0.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TOST shares. Needham & Company LLC decreased their price objective on Toast from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, February 17th. Mizuho decreased their price objective on Toast from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, February 17th. Piper Sandler boosted their target price on Toast from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, February 17th. The Goldman Sachs Group decreased their target price on Toast from $23.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, January 9th. Finally, Sumitomo Mitsui Financial Group cut Toast from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $26.00 to $23.00 in a research note on Friday, February 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.75.

Insider Buying and Selling

In related news, CEO Christopher P. Comparato sold 33,333 shares of the company’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $19.09, for a total transaction of $636,326.97. Following the sale, the chief executive officer now owns 143,228 shares in the company, valued at $2,734,222.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Christopher P. Comparato sold 33,333 shares of the company’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $19.09, for a total transaction of $636,326.97. Following the sale, the chief executive officer now owns 143,228 shares in the company, valued at $2,734,222.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Fredette sold 404,654 shares of the company’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $18.82, for a total value of $7,615,588.28. Following the completion of the sale, the insider now owns 3,912,132 shares in the company, valued at approximately $73,626,324.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,600,246 shares of company stock worth $30,295,637. Corporate insiders own 20.16% of the company’s stock.

About Toast

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Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.