Trevian Wealth Management LLC Cuts Position in Toast, Inc. (NYSE:TOST)

Trevian Wealth Management LLC cut its stake in Toast, Inc. (NYSE:TOST) by 52.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,277 shares of the company’s stock after selling 26,100 shares during the period. Toast comprises approximately 0.6% of Trevian Wealth Management LLC’s portfolio, making the stock its 15th largest position. Trevian Wealth Management LLC’s holdings in Toast were worth $848,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TOST. Mirador Capital Partners LP boosted its position in Toast by 0.9% during the fourth quarter. Mirador Capital Partners LP now owns 41,938 shares of the company’s stock valued at $1,529,000 after buying an additional 360 shares during the period. Blue Trust Inc. boosted its position in Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after buying an additional 378 shares during the period. D.A. Davidson & CO. boosted its position in Toast by 1.9% during the third quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock valued at $626,000 after buying an additional 409 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Toast by 1.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock valued at $927,000 after buying an additional 421 shares during the period. Finally, Private Advisor Group LLC boosted its position in Toast by 1.6% during the third 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. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TOST has been the subject of a number of analyst reports. Wedbush increased their target price on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. BNP Paribas lowered shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Wednesday, November 20th. Keefe, Bruyette & Woods increased their target price on shares of Toast from $29.00 to $40.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. BMO Capital Markets initiated coverage on shares of Toast in a report on Monday, January 6th. They set an “outperform” rating and a $45.00 target price for the company. Finally, Royal Bank of Canada increased their target price on shares of Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.74.

Toast Stock Up 0.2 %

NYSE:TOST opened at $40.03 on Thursday. Toast, Inc. has a 12 month low of $17.65 and a 12 month high of $44.12. The company has a 50 day simple moving average of $38.71 and a two-hundred day simple moving average of $31.77.

Toast (NYSE:TOST) last posted its earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the firm posted ($0.09) EPS. As a group, equities analysts forecast that Toast, Inc. will post 0.03 earnings per share for the current year.

Insider Activity

In related news, CRO Jonathan Vassil sold 1,367 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $42,486.36. Following the completion of the transaction, the executive now owns 39,834 shares of the company’s stock, valued at approximately $1,238,040.72. This represents a 3.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard Kent Bennett sold 100,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $36.67, for a total transaction of $3,667,000.00. Following the completion of the transaction, the director now directly owns 418,591 shares of the company’s stock, valued at $15,349,731.97. This represents a 19.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 562,600 shares of company stock valued at $21,823,932 in the last 90 days. Company 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.