Toast, Inc. $TOST Shares Sold by Sands Capital Alternatives LLC

Sands Capital Alternatives LLC decreased its position in Toast, Inc. (NYSE:TOST - Free Report) by 25.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 156,604 shares of the company's stock after selling 54,007 shares during the quarter. Toast comprises about 1.4% of Sands Capital Alternatives LLC's holdings, making the stock its 11th largest position. Sands Capital Alternatives LLC's holdings in Toast were worth $6,936,000 at the end of the most recent reporting period.

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A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TOST. IFM Investors Pty Ltd lifted its stake in shares of Toast by 29.2% during the 2nd quarter. IFM Investors Pty Ltd now owns 83,803 shares of the company's stock worth $3,712,000 after purchasing an additional 18,950 shares during the period. K.J. Harrison & Partners Inc acquired a new position in Toast in the second quarter valued at $1,329,000. Charles Schwab Investment Management Inc. lifted its position in Toast by 5.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,092,210 shares of the company's stock worth $102,569,000 after buying an additional 153,723 shares during the period. Comerica Bank boosted its stake in Toast by 122.9% in the 1st quarter. Comerica Bank now owns 76,644 shares of the company's stock worth $2,542,000 after buying an additional 42,266 shares during the last quarter. Finally, Graham Capital Management L.P. grew its holdings in Toast by 373.5% in the 1st quarter. Graham Capital Management L.P. now owns 43,778 shares of the company's stock valued at $1,452,000 after buying an additional 34,532 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TOST shares. DA Davidson set a $42.00 price objective on shares of Toast in a report on Wednesday, November 5th. Morgan Stanley upped their price target on shares of Toast from $54.00 to $56.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 5th. Royal Bank Of Canada set a $45.00 price target on shares of Toast in a research note on Wednesday, November 5th. Needham & Company LLC boosted their price objective on shares of Toast from $50.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Jefferies Financial Group dropped their price objective on Toast from $54.00 to $45.00 and set a "buy" rating for the company in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $45.18.

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View Our Latest Stock Report on Toast

Toast Stock Down 1.5%

TOST opened at $33.84 on Wednesday. Toast, Inc. has a 52-week low of $28.12 and a 52-week high of $49.66. The company has a 50 day moving average of $36.22 and a two-hundred day moving average of $41.00. The company has a market cap of $17.43 billion, a P/E ratio of 78.71 and a beta of 1.94.

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Toast (NYSE:TOST - Get Free Report) last posted its earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a net margin of 4.68% and a return on equity of 15.77%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm posted $0.07 EPS. The business's revenue was up 25.1% compared to the same quarter last year. Research analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Activity at Toast

In other news, President Stephen Fredette sold 7,550 shares of the company's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $268,478.00. Following the completion of the sale, the president owned 898,475 shares of the company's stock, valued at $31,949,771. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 4,987 shares of the firm's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $177,337.72. Following the sale, the general counsel owned 227,924 shares in the company, valued at approximately $8,104,977.44. The trade was a 2.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 49,759 shares of company stock valued at $1,769,270 over the last 90 days. Corporate insiders own 12.14% of the company's stock.

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.

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