Toast, Inc. (NYSE:TOST) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. lowered its stake in shares of Toast, Inc. (NYSE:TOST) by 24.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,688 shares of the company’s stock after selling 2,869 shares during the quarter. Baird Financial Group Inc.’s holdings in Toast were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its position in Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after acquiring an additional 378 shares during the last quarter. Piscataqua Savings Bank acquired a new stake in shares of Toast during the fourth quarter worth about $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of Toast during the fourth quarter worth about $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of Toast in the 4th quarter valued at about $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Toast in the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

Toast stock opened at $44.69 on Friday. The company has a market cap of $22.25 billion, a P/E ratio of -4,464.04, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. Toast, Inc. has a one year low of $21.32 and a one year high of $45.56. The business has a fifty day moving average of $35.55 and a two-hundred day moving average of $37.31.

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 net margin of 0.40% and a return on equity of 1.54%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Sell-side analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

Insider Transactions at Toast

In other Toast news, President Stephen Fredette sold 70,340 shares of Toast stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the completion of the transaction, the president now owns 1,574,316 shares in the company, valued at approximately $53,322,082.92. The trade was a 4.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher P. Comparato sold 70,000 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the completion of the sale, the director now directly owns 164,796 shares in the company, valued at $5,884,865.16. This trade represents a 29.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 416,991 shares of company stock valued at $15,242,750 in the last quarter. 13.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on TOST shares. Royal Bank of Canada lifted their price target on Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Oppenheimer began coverage on shares of Toast in a report on Friday, January 24th. They issued an “outperform” rating and a $46.00 target price on the stock. BMO Capital Markets increased their price target on shares of Toast from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, May 12th. Canaccord Genuity Group lifted their price objective on shares of Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Robert W. Baird increased their target price on shares of Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.91.

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.