Oppenheimer Asset Management Inc. Sells 2,272 Shares of Toast, Inc. (NYSE:TOST)

Oppenheimer Asset Management Inc. lessened its stake in shares of Toast, Inc. (NYSE:TOST) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 80,374 shares of the company’s stock after selling 2,272 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Toast were worth $2,930,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Private Advisor Group LLC boosted its position in Toast by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock valued at $797,000 after buying an additional 441 shares during the period. International Assets Investment Management LLC raised its stake in shares of Toast by 2,731.0% during the third quarter. International Assets Investment Management LLC now owns 95,971 shares of the company’s stock valued at $2,717,000 after acquiring an additional 92,581 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of Toast by 37.6% during the third quarter. Pinnacle Associates Ltd. now owns 15,750 shares of the company’s stock worth $446,000 after purchasing an additional 4,300 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Toast by 32.3% in the third quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock worth $58,000 after purchasing an additional 496 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in Toast by 29.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 103,110 shares of the company’s stock valued at $2,919,000 after purchasing an additional 23,345 shares during the period. Institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley increased their price objective on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Compass Point began coverage on Toast in a research note on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Toast from $24.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Keefe, Bruyette & Woods raised their target price on shares of Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company lifted their target price on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.09.

Toast Trading Up 3.0 %

NYSE TOST opened at $38.65 on Friday. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $44.12. The stock’s fifty day moving average price is $38.61 and its 200-day moving average price is $33.92. The stock has a market cap of $18.20 billion, a P/E ratio of -3,860.74, a P/E/G ratio of 2.16 and a beta of 1.98.

Toast (NYSE:TOST) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. As a group, analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Activity at Toast

In other news, CRO Jonathan Vassil sold 1,006 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $39,867.78. Following the sale, the executive now owns 48,488 shares of the company’s stock, valued at $1,921,579.44. This trade represents a 2.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Brian R. Elworthy sold 653 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 $25,878.39. Following the completion of the sale, 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 149,779 shares of company stock valued at $5,415,192 over the last 90 days. Corporate insiders own 13.32% of the company’s stock.

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.