Ballentine Partners LLC Has $255,000 Stock Position in Toast, Inc. (NYSE:TOST)

Ballentine Partners LLC reduced its position in shares of Toast, Inc. (NYSE:TOST) by 4.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,997 shares of the company’s stock after selling 323 shares during the period. Ballentine Partners LLC’s holdings in Toast were worth $255,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. ValueAct Holdings L.P. bought a new position in Toast in the 3rd quarter valued at about $438,301,000. FMR LLC grew its holdings in Toast by 50.5% during the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after buying an additional 8,205,053 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Toast by 2,889.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock valued at $108,427,000 after acquiring an additional 3,701,893 shares in the last quarter. Worldquant Millennium Advisors LLC grew its stake in shares of Toast by 1,475.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company’s stock worth $24,091,000 after acquiring an additional 796,936 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Toast by 6,278.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 710,061 shares of the company’s stock valued at $20,102,000 after purchasing an additional 698,929 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

TOST stock opened at $39.33 on Friday. The firm has a market cap of $18.52 billion, a P/E ratio of -302.52, a P/E/G ratio of 2.05 and a beta of 1.97. The firm’s fifty day moving average is $38.83 and its 200 day moving average is $31.45. Toast, Inc. has a 52 week low of $16.13 and a 52 week high of $44.12.

Toast (NYSE:TOST) last issued its earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the business posted ($0.09) EPS. As a group, analysts forecast that Toast, Inc. will post 0.03 EPS for the current year.

Insider Buying and Selling

In related news, CRO Jonathan Vassil sold 1,367 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $42,486.36. Following the completion of the transaction, the executive now directly owns 39,834 shares of the company’s stock, valued at $1,238,040.72. This represents a 3.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Aman Narang sold 1,646 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $31.08, for a total transaction of $51,157.68. Following the completion of the sale, the chief executive officer now owns 969,970 shares of the company’s stock, valued at $30,146,667.60. This trade represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 562,600 shares of company stock valued at $21,823,932 over the last three months. 13.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TOST. BNP Paribas downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Wednesday, November 20th. Robert W. Baird upped their price objective on Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Compass Point started coverage on shares of Toast in a report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price target on the stock. Stephens lifted their price objective on shares of Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company increased their target price on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Toast currently has a consensus rating of “Hold” and a consensus target price of $35.74.

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.