Russell Investments Group Ltd. Sells 48,117 Shares of Toast, Inc. (NYSE:TOST)

Russell Investments Group Ltd. decreased its stake in shares of Toast, Inc. (NYSE:TOST – Get Rating) by 37.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 81,028 shares of the company’s stock after selling 48,117 shares during the quarter. Russell Investments Group Ltd.’s holdings in Toast were worth $1,461,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TOST. Raymond James & Associates boosted its position in shares of Toast by 115.4% during the first quarter. Raymond James & Associates now owns 24,946 shares of the company’s stock worth $542,000 after acquiring an additional 13,364 shares during the last quarter. HighTower Advisors LLC raised its stake in Toast by 78.2% during the first quarter. HighTower Advisors LLC now owns 28,356 shares of the company’s stock valued at $616,000 after purchasing an additional 12,446 shares in the last quarter. Citigroup Inc. purchased a new stake in Toast during the first quarter valued at $438,000. Ergoteles LLC purchased a new stake in Toast during the first quarter valued at $2,427,000. Finally, First Trust Advisors LP purchased a new stake in Toast during the first quarter valued at $33,356,000. Institutional investors own 50.82% of the company’s stock.

Toast Price Performance

TOST stock opened at $20.52 on Wednesday. Toast, Inc. has a 12 month low of $12.15 and a 12 month high of $26.03. The firm’s 50-day moving average is $18.02 and its 200 day moving average is $19.01. The company has a market capitalization of $10.89 billion, a PE ratio of -31.57 and a beta of 1.75.

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

Insiders Place Their Bets

In other Toast news, CEO Christopher P. Comparato sold 33,333 shares of the stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $16.70, for a total transaction of $556,661.10. Following the transaction, the chief executive officer now directly owns 109,895 shares in the company, valued at approximately $1,835,246.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Elena Gomez sold 10,293 shares of Toast stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $17.59, for a total value of $181,053.87. Following the transaction, the chief financial officer now owns 117,655 shares of the company’s stock, valued at approximately $2,069,551.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher P. Comparato sold 33,333 shares of Toast stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $16.70, for a total transaction of $556,661.10. Following the completion of the transaction, the chief executive officer now directly owns 109,895 shares in the company, valued at approximately $1,835,246.50. The disclosure for this sale can be found here. Insiders have sold a total of 891,727 shares of company stock worth $18,027,345 in the last three months. Corporate insiders own 20.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TOST. Robert W. Baird decreased their price target on shares of Toast from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 19th. Credit Suisse Group increased their target price on shares of Toast from $21.50 to $23.00 and gave the company a “neutral” rating in a research note on Friday, February 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of Toast in a research note on Thursday, April 6th. They issued a “hold” rating and a $20.00 target price on the stock. Sumitomo Mitsui Financial Group downgraded shares of Toast from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $26.00 to $23.00 in a research note on Friday, February 17th. Finally, KeyCorp reduced their target price on shares of Toast from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 5th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price 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.