Cwm LLC Reduces Stake in Toast, Inc. (NYSE:TOST)

Cwm LLC trimmed its position in shares of Toast, Inc. (NYSE:TOST) by 32.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,387 shares of the company’s stock after selling 1,133 shares during the quarter. Cwm LLC’s holdings in Toast were worth $44,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. SRS Capital Advisors Inc. acquired a new stake in Toast during the 3rd quarter valued at $33,000. Larson Financial Group LLC boosted its stake in shares of Toast by 8,181.8% during the third quarter. Larson Financial Group LLC now owns 1,822 shares of the company’s stock valued at $34,000 after acquiring an additional 1,800 shares during the last quarter. Spire Wealth Management increased its position in Toast by 481.6% during the 3rd quarter. Spire Wealth Management now owns 1,838 shares of the company’s stock worth $34,000 after purchasing an additional 1,522 shares in the last quarter. Your Advocates Ltd. LLP acquired a new position in Toast in the 3rd quarter valued at about $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in Toast in the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling

In other Toast news, CFO Elena Gomez sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total value of $329,875.00. Following the transaction, the chief financial officer now directly owns 176,980 shares of the company’s stock, valued at approximately $4,670,502.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Elena Gomez sold 12,500 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $26.39, for a total value of $329,875.00. Following the sale, the chief financial officer now owns 176,980 shares in the company, valued at approximately $4,670,502.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total value of $2,524,000.00. Following the completion of the transaction, the executive now owns 22,956 shares of the company’s stock, valued at $579,409.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,010 shares of company stock worth $4,711,760. 13.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TOST has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Toast from $25.00 to $26.00 and gave the stock a “market perform” rating in a research report on Wednesday. Wells Fargo & Company upped their target price on Toast from $17.00 to $19.00 and gave the company an “underweight” rating in a research note on Wednesday. Robert W. Baird lifted their price target on Toast from $24.00 to $28.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Evercore ISI started coverage on shares of Toast in a report on Monday, March 4th. They set an “outperform” rating and a $32.00 price objective on the stock. Finally, Piper Sandler boosted their target price on shares of Toast from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Toast currently has a consensus rating of “Hold” and an average target price of $25.80.

Toast Price Performance

NYSE TOST opened at $26.82 on Friday. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $27.57. The business has a 50 day moving average price of $23.79 and a two-hundred day moving average price of $19.62. The stock has a market cap of $12.10 billion, a PE ratio of -52.59 and a beta of 1.77.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, meeting the consensus estimate of ($0.15). Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the firm earned ($0.16) earnings per share. The business’s quarterly revenue was up 31.3% compared to the same quarter last year. Sell-side analysts anticipate that Toast, Inc. will post -0.22 EPS for the current fiscal year.

Toast 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.