Parkside Financial Bank & Trust Cuts Holdings in Toast, Inc. (NYSE:TOST)

Parkside Financial Bank & Trust lowered its stake in shares of Toast, Inc. (NYSE:TOST) by 10.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,361 shares of the company’s stock after selling 721 shares during the period. Parkside Financial Bank & Trust’s holdings in Toast were worth $232,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. QRG Capital Management Inc. increased its stake in Toast by 4.0% in the fourth quarter. QRG Capital Management Inc. now owns 97,435 shares of the company’s stock valued at $3,551,000 after acquiring an additional 3,771 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in Toast by 196.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 41,597 shares of the company’s stock worth $1,516,000 after purchasing an additional 27,567 shares during the last quarter. New York Life Investment Management LLC bought a new stake in Toast during the fourth quarter worth about $1,572,000. Canton Hathaway LLC lifted its stake in Toast by 107.1% during the fourth quarter. Canton Hathaway LLC now owns 3,090 shares of the company’s stock worth $113,000 after purchasing an additional 1,598 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Toast during the fourth quarter worth about $16,521,000. 82.91% of the stock is owned by institutional investors.

Toast Price Performance

Shares of NYSE:TOST opened at $38.65 on Friday. Toast, Inc. has a 1 year low of $21.32 and a 1 year high of $44.12. The company has a market cap of $18.20 billion, a PE ratio of -3,860.74, a P/E/G ratio of 2.16 and a beta of 1.98. The stock’s 50-day moving average is $38.61 and its 200 day moving average is $33.92.

Toast (NYSE:TOST) last posted its earnings results 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). Toast had a return on equity of 1.54% and a net margin of 0.40%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Analysts expect that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TOST has been the subject of several research analyst reports. BMO Capital Markets lifted their price target on Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Canaccord Genuity Group lifted their price target on Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Wells Fargo & Company lifted their price target on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. lifted their price target on Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley lifted their price target on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $40.09.

Insiders Place Their Bets

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of the company’s 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 transaction, the general counsel now owns 209,206 shares in the company, valued at approximately $8,290,833.78. This represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher P. Comparato sold 145,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $36.04, for a total value of $5,225,800.00. Following the transaction, the director now owns 182,451 shares in the company, valued at $6,575,534.04. This trade represents a 44.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 149,779 shares of company stock worth $5,415,192. Company insiders own 13.32% of the company’s stock.

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.