First Trust Advisors LP Sells 186,721 Shares of Toast, Inc. $TOST

First Trust Advisors LP trimmed its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 15.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,033,066 shares of the company's stock after selling 186,721 shares during the quarter. First Trust Advisors LP owned 0.20% of Toast worth $27,387,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of TOST. Jennison Associates LLC grew its position in shares of Toast by 1.0% during the 4th quarter. Jennison Associates LLC now owns 15,157,955 shares of the company's stock valued at $538,259,000 after acquiring an additional 157,394 shares during the period. Morgan Stanley boosted its stake in Toast by 6.7% during the fourth quarter. Morgan Stanley now owns 10,372,626 shares of the company's stock worth $368,332,000 after buying an additional 653,487 shares during the last quarter. State Street Corp boosted its position in shares of Toast by 3.0% during the 4th quarter. State Street Corp now owns 9,820,594 shares of the company's stock valued at $348,729,000 after acquiring an additional 282,282 shares during the last quarter. XN LP grew its stake in shares of Toast by 50.8% in the 4th quarter. XN LP now owns 8,988,386 shares of the company's stock valued at $319,178,000 after buying an additional 3,029,856 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Toast by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company's stock valued at $307,214,000 after buying an additional 169,230 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Performance

Shares of TOST stock opened at $32.27 on Wednesday. The firm's 50 day moving average price is $26.90 and its 200-day moving average price is $27.93. Toast, Inc. has a one year low of $22.26 and a one year high of $49.66. The firm has a market cap of $16.65 billion, a P/E ratio of 49.65 and a beta of 1.74.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.08). The company had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.63 billion. Toast had a return on equity of 20.86% and a net margin of 6.39%.The business's revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 EPS. As a group, research analysts predict that Toast, Inc. will post 0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Elena Gomez sold 11,605 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total transaction of $334,804.25. Following the transaction, the chief financial officer owned 185,150 shares of the company's stock, valued at approximately $5,341,577.50. This represents a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Jonathan Vassil sold 3,150 shares of the firm's stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $30.03, for a total value of $94,594.50. Following the transaction, the executive owned 69,966 shares of the company's stock, valued at $2,101,078.98. This trade represents a 4.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 159,265 shares of company stock valued at $4,278,832. Insiders own 10.03% of the company's stock.

Analysts Set New Price Targets

TOST has been the topic of several analyst reports. Rothschild & Co Redburn reaffirmed a "neutral" rating and set a $35.00 price target on shares of Toast in a research report on Tuesday, May 12th. Barclays initiated coverage on Toast in a research report on Tuesday, July 7th. They issued an "overweight" rating and a $35.00 price objective for the company. DA Davidson cut their target price on Toast from $33.00 to $28.00 and set a "neutral" rating for the company in a research note on Tuesday, May 12th. Zacks Research downgraded Toast from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Finally, UBS Group reduced their target price on Toast from $40.00 to $34.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, Toast presently has a consensus rating of "Moderate Buy" and an average target price of $37.08.

Toast Profile

Toast, Inc NYSE: TOST is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast's product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.

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