Jump Financial LLC Decreases Stock Position in Toast, Inc. (NYSE:TOST)

Jump Financial LLC reduced its position in Toast, Inc. (NYSE:TOST) by 50.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 345,056 shares of the company’s stock after selling 357,423 shares during the quarter. Jump Financial LLC owned about 0.07% of Toast worth $12,577,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Toast by 38.0% during the third quarter. Barclays PLC now owns 309,426 shares of the company’s stock worth $8,758,000 after purchasing an additional 85,171 shares in the last quarter. M&T Bank Corp increased its position in Toast by 20.0% in the 3rd quarter. M&T Bank Corp now owns 30,955 shares of the company’s stock valued at $877,000 after acquiring an additional 5,169 shares during the period. Geode Capital Management LLC raised its stake in shares of Toast by 2.3% during the third quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after purchasing an additional 155,212 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Toast by 35.4% in the third quarter. Toronto Dominion Bank now owns 46,319 shares of the company’s stock valued at $1,311,000 after acquiring an additional 12,118 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Toast during the third quarter worth about $327,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Performance

TOST opened at $34.59 on Tuesday. The stock has a 50-day moving average of $35.97 and a 200-day moving average of $36.02. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The company has a market cap of $17.09 billion, a PE ratio of -3,455.54, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00.

Toast (NYSE:TOST) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. On average, research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling at Toast

In other news, General Counsel Brian R. Elworthy sold 653 shares of Toast stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the sale, the general counsel now directly owns 209,206 shares of the company’s stock, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elena Gomez sold 2,052 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 value of $81,320.76. Following the completion of the transaction, the chief financial officer now owns 160,498 shares in the company, valued at approximately $6,360,535.74. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 270,770 shares of company stock valued at $9,409,211 in the last 90 days. 13.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TOST. Canaccord Genuity Group raised their price target on Toast from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, February 20th. BNP Paribas set a $37.00 price objective on Toast and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods lifted their price target on shares of Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a research note on Thursday, February 20th. Evercore ISI began coverage on Toast in a report on Wednesday, April 9th. They issued an “in-line” rating and a $29.00 price objective for the company. Finally, BMO Capital Markets increased their target price on Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $40.27.

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.