Abdiel Capital Advisors LP Sells 4,721,231 Shares of Toast, Inc. (NYSE:TOST)

Abdiel Capital Advisors LP lowered its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 55.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,829,470 shares of the company's stock after selling 4,721,231 shares during the quarter. Toast comprises approximately 8.6% of Abdiel Capital Advisors LP's holdings, making the stock its 6th largest holding. Abdiel Capital Advisors LP owned 0.81% of Toast worth $139,584,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in shares of 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 buying an additional 378 shares during the period. Piscataqua Savings Bank acquired a new position in Toast in the 4th quarter valued at approximately $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Toast in the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. acquired a new stake in shares of Toast during the 4th quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Toast during the fourth quarter valued at approximately $40,000. 82.91% of the stock is owned by institutional investors.

Toast Trading Up 2.2 %

Toast stock traded up $0.78 during mid-day trading on Friday, hitting $36.08. The stock had a trading volume of 6,503,078 shares, compared to its average volume of 6,848,739. The stock has a market capitalization of $17.95 billion, a PE ratio of -3,604.40, a P/E/G ratio of 2.16 and a beta of 2.00. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $44.12. The stock has a 50-day simple moving average of $34.60 and a two-hundred day simple moving average of $36.56.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Sell-side analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Christopher P. Comparato sold 70,000 shares of the firm's stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $34.21, for a total transaction of $2,394,700.00. Following the sale, the director now owns 179,316 shares of the company's stock, valued at $6,134,400.36. This trade represents a 28.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the transaction, the general counsel now owns 209,206 shares of the company's stock, valued at $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 340,770 shares of company stock valued at $11,803,911 in the last ninety days. 13.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TOST shares. Royal Bank of Canada lifted their price target on shares of Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on shares of Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Canaccord Genuity Group raised their price target on shares of Toast from $43.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. BNP Paribas set a $37.00 price objective on Toast and gave the company a "neutral" rating in a report on Wednesday, February 19th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $50.00 target price on shares of Toast in a report on Thursday, February 20th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $40.35.

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.