Boothbay Fund Management LLC Sells 13,838 Shares of Toast, Inc. (NYSE:TOST)

Posted by Defense World Staff on Mar 6th, 2023

Boothbay Fund Management LLC cut its holdings in shares of Toast, Inc. (NYSE:TOST – Get Rating) by 53.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,146 shares of the company’s stock after selling 13,838 shares during the period. Boothbay Fund Management LLC’s holdings in Toast were worth $203,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American International Group Inc. bought a new position in shares of Toast during the second quarter valued at approximately $46,000. Captrust Financial Advisors boosted its stake in Toast by 44.8% in the first quarter. Captrust Financial Advisors now owns 4,866 shares of the company’s stock valued at $106,000 after acquiring an additional 1,505 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Toast in the second quarter valued at approximately $72,000. IFP Advisors Inc boosted its stake in Toast by 48.4% in the third quarter. IFP Advisors Inc now owns 6,142 shares of the company’s stock valued at $385,000 after acquiring an additional 2,003 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in Toast by 38.5% in the third quarter. Rockefeller Capital Management L.P. now owns 7,754 shares of the company’s stock valued at $129,000 after acquiring an additional 2,157 shares in the last quarter. 50.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TOST shares. Mizuho lowered their target price on shares of Toast from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, February 17th. Morgan Stanley raised their target price on shares of Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, November 11th. KeyCorp raised their target price on shares of Toast from $26.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, February 13th. Robert W. Baird downgraded shares of Toast from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $26.00 to $24.00 in a research note on Tuesday, January 24th. Finally, DA Davidson lowered their price objective on shares of Toast from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, February 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.75.

Toast Price Performance

Shares of Toast stock opened at $18.80 on Monday. The firm has a fifty day moving average price of $20.44 and a 200 day moving average price of $19.44. Toast, Inc. has a 1 year low of $11.91 and a 1 year high of $26.03.

Toast (NYSE:TOST – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). Toast had a negative net margin of 10.03% and a negative return on equity of 24.30%. The firm had revenue of $769.00 million during the quarter, compared to analysts’ expectations of $753.13 million. During the same period in the previous year, the firm posted ($0.46) EPS. The firm’s quarterly revenue was up 50.2% on a year-over-year basis. As a group, equities analysts expect that Toast, Inc. will post -0.59 EPS for the current year.

Insider Buying and Selling at Toast

In other Toast news, major shareholder Bessemer Venture Partners Ix L sold 135,692 shares of Toast stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $19.08, for a total value of $2,589,003.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Stephen Fredette sold 404,654 shares of the business’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $18.82, for a total transaction of $7,615,588.28. Following the completion of the sale, the insider now owns 3,912,132 shares of the company’s stock, valued at $73,626,324.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bessemer Venture Partners Ix L sold 135,692 shares of the business’s stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $19.08, for a total transaction of $2,589,003.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,999,190 shares of company stock valued at $38,214,675. Corporate insiders own 20.16% of the company’s stock.

Toast Company Profile

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Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.