First Trust Advisors LP Decreases Holdings in Toast, Inc. (NYSE:TOST)

First Trust Advisors LP trimmed its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 15.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,824,649 shares of the company's stock after selling 321,368 shares during the quarter. First Trust Advisors LP owned approximately 0.39% of Toast worth $66,508,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Barclays PLC grew its stake in Toast by 38.0% in the 3rd quarter. Barclays PLC now owns 309,426 shares of the company's stock valued at $8,758,000 after acquiring an additional 85,171 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Toast in the third quarter valued at about $327,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Toast during the third quarter worth about $59,000. Tidal Investments LLC raised its position in shares of Toast by 5.4% during the 3rd quarter. Tidal Investments LLC now owns 14,310 shares of the company's stock worth $405,000 after purchasing an additional 734 shares during the last quarter. Finally, Synovus Financial Corp purchased a new position in Toast in the 3rd quarter valued at about $425,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 653 shares of the company'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 transaction of $25,878.39. Following the sale, the general counsel now directly owns 209,206 shares in the company, valued at approximately $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $42,324.84. Following the completion of the transaction, the president now owns 1,644,656 shares of the company's stock, valued at $65,177,717.28. This represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 340,770 shares of company stock valued at $11,803,911. 13.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on TOST. Needham & Company LLC reiterated a "buy" rating and set a $50.00 price objective on shares of Toast in a research note on Thursday, February 20th. Wells Fargo & Company upgraded Toast from an "underweight" rating to an "overweight" rating and boosted their price target for the stock from $30.00 to $39.00 in a research report on Thursday, April 10th. BNP Paribas set a $37.00 price objective on Toast and gave the company a "neutral" rating in a report on Wednesday, February 19th. Morgan Stanley lowered their target price on shares of Toast from $50.00 to $46.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group decreased their price target on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Thirteen 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, Toast currently has a consensus rating of "Hold" and a consensus price target of $40.26.

Toast Trading Down 0.8 %

NYSE TOST traded down $0.29 during trading hours on Monday, reaching $35.82. The company had a trading volume of 1,417,000 shares, compared to its average volume of 6,804,545. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $44.12. The stock has a market capitalization of $17.69 billion, a P/E ratio of -3,570.73, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. The stock has a 50-day moving average of $34.85 and a 200 day moving average of $36.41.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. As a group, sell-side analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

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.