Motley Fool Asset Management LLC Cuts Stock Position in Toast, Inc. (NYSE:TOST)

Key Points

• Motley Fool Asset Management LLC sold 11,015 shares of Toast, Inc., reducing its stake by 3.3%, leaving it with approximately 326,143 shares valued at $10.8 million.
• Insider trading activity includes significant sales, with Director Paul D. Bell selling 11,000 shares and Director Christopher P. Comparato selling 70,000 shares, resulting in considerable decreases in their ownership.
• Toast's latest earnings report showed a net margin of 4.07% with a 24.8% year-over-year revenue growth, although it missed EPS estimates by $0.10.

Motley Fool Asset Management LLC lessened its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 3.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 326,143 shares of the company's stock after selling 11,015 shares during the period. Motley Fool Asset Management LLC owned about 0.07% of Toast worth $10,818,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TOST. SBI Securities Co. Ltd. boosted its holdings in Toast by 29.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock worth $42,000 after buying an additional 284 shares during the period. Stonekeep Investments LLC increased its position in shares of Toast by 4.0% in the first quarter. Stonekeep Investments LLC now owns 7,791 shares of the company's stock valued at $258,000 after acquiring an additional 297 shares during the period. Keel Point LLC boosted its stake in shares of Toast by 2.7% during the 4th quarter. Keel Point LLC now owns 12,269 shares of the company's stock valued at $447,000 after purchasing an additional 326 shares in the last quarter. Piscataqua Savings Bank boosted its stake in Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after acquiring an additional 400 shares in the last quarter. Finally, Legacy Advisors LLC grew its holdings in shares of Toast by 1.7% during the first quarter. Legacy Advisors LLC now owns 26,318 shares of the company's stock valued at $873,000 after buying an additional 438 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Price Performance

Shares of TOST stock traded up $0.26 during trading hours on Wednesday, reaching $44.33. The company had a trading volume of 10,589,765 shares, compared to its average volume of 9,312,319. The business has a fifty day simple moving average of $44.79 and a 200-day simple moving average of $40.07. The company has a market cap of $22.61 billion, a price-to-earnings ratio of 130.38 and a beta of 2.01. Toast, Inc. has a 12 month low of $22.91 and a 12 month high of $49.66.

Toast (NYSE:TOST - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The business's quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 earnings per share. On average, equities research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TOST shares. DA Davidson increased their price objective on shares of Toast from $40.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft began coverage on shares of Toast in a research report on Thursday, July 17th. They issued a "buy" rating and a $54.00 price objective on the stock. The Goldman Sachs Group upped their price objective on shares of Toast from $45.00 to $51.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Citigroup restated a "buy" rating on shares of Toast in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Toast from $42.00 to $52.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Eleven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $45.54.

Insiders Place Their Bets

In other news, CFO Elena Gomez sold 34,170 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $42.56, for a total value of $1,454,275.20. Following the completion of the transaction, the chief financial officer directly owned 139,357 shares in the company, valued at approximately $5,931,033.92. This represents a 19.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aman Narang sold 13,829 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $588,977.11. Following the completion of the sale, the chief executive officer directly owned 302,498 shares of the company's stock, valued at approximately $12,883,389.82. This trade represents a 4.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 404,054 shares of company stock worth $17,300,366. 12.14% of the stock is owned by corporate insiders.

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.