Toast, Inc. (NYSE:TOST) Major Shareholder Bessemer Venture Partners Ix L Sells 500,000 Shares of Stock

Toast, Inc. (NYSE:TOST – Get Rating) major shareholder Bessemer Venture Partners Ix L sold 500,000 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $20.93, for a total transaction of $10,465,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Toast Stock Performance

NYSE TOST opened at $21.30 on Tuesday. The company has a market cap of $11.30 billion, a PE ratio of -32.77 and a beta of 1.75. Toast, Inc. has a 52-week low of $12.15 and a 52-week high of $26.03. The firm’s 50 day moving average price is $17.97 and its 200-day moving average price is $19.00.

Toast (NYSE:TOST – Get Rating) last announced its earnings results on Tuesday, May 9th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. The company had revenue of $819.00 million during the quarter, compared to the consensus estimate of $763.11 million. Toast had a negative net margin of 11.01% and a negative return on equity of 29.74%. Toast’s revenue was up 53.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.20) earnings per share. On average, analysts forecast that Toast, Inc. will post -0.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Toast

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in Toast by 214.5% in the third quarter. SG Americas Securities LLC now owns 28,674 shares of the company’s stock valued at $479,000 after acquiring an additional 19,557 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Toast during the third quarter worth $3,453,000. Amalgamated Bank lifted its stake in shares of Toast by 10.6% during the third quarter. Amalgamated Bank now owns 55,758 shares of the company’s stock worth $932,000 after buying an additional 5,326 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of Toast by 38.5% during the third quarter. Rockefeller Capital Management L.P. now owns 7,754 shares of the company’s stock worth $129,000 after buying an additional 2,157 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Toast during the fourth quarter worth $191,000. 50.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. BNP Paribas assumed coverage on shares of Toast in a report on Thursday, March 23rd. They issued a “neutral” rating and a $16.00 price target for the company. Stephens assumed coverage on shares of Toast in a report on Thursday, April 13th. They issued an “equal weight” rating and a $18.00 price target for the company. DA Davidson reissued a “buy” rating on shares of Toast in a research report on Monday, April 3rd. Credit Suisse Group increased their price objective on shares of Toast from $21.50 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, February 17th. Finally, Mizuho increased their price objective on shares of Toast from $23.00 to $25.00 in a research report on Tuesday, May 16th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.75.

Toast Company Profile

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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.