Rockefeller Capital Management L.P. Sells 17,038 Shares of Toast, Inc. (NYSE:TOST)

Rockefeller Capital Management L.P. lessened its position in shares of Toast, Inc. (NYSE:TOST) by 14.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,936 shares of the company’s stock after selling 17,038 shares during the period. Rockefeller Capital Management L.P.’s holdings in Toast were worth $3,533,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Covestor Ltd lifted its holdings in shares of Toast by 27.0% in the fourth quarter. Covestor Ltd now owns 2,990 shares of the company’s stock worth $109,000 after acquiring an additional 635 shares during the last quarter. Treasurer of the State of North Carolina increased its position in Toast by 5.5% during the 4th quarter. Treasurer of the State of North Carolina now owns 204,474 shares of the company’s stock worth $7,453,000 after purchasing an additional 10,650 shares in the last quarter. Colonial Trust Advisors lifted its stake in Toast by 500.0% in the 4th quarter. Colonial Trust Advisors now owns 4,500 shares of the company’s stock valued at $164,000 after purchasing an additional 3,750 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Toast during the fourth quarter worth $21,465,000. Finally, Advisory Services Network LLC acquired a new position in shares of Toast during the fourth quarter worth $202,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on TOST. Keefe, Bruyette & Woods upped their price objective on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Thursday, February 20th. Canaccord Genuity Group boosted their price objective on shares of Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. BMO Capital Markets lifted their price objective on Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Royal Bank of Canada raised their price target on shares of Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Finally, The Goldman Sachs Group decreased their price objective on shares of Toast from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Toast currently has an average rating of “Hold” and a consensus price target of $40.09.

Toast Price Performance

Shares of NYSE TOST opened at $34.30 on Friday. The company has a 50-day moving average price of $35.55 and a 200-day moving average price of $36.04. The stock has a market capitalization of $16.95 billion, a P/E ratio of -3,426.97, a P/E/G ratio of 2.16 and a beta of 2.00. Toast, Inc. has a 1 year low of $21.32 and a 1 year high of $44.12.

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

Insider Activity at Toast

In related news, Director Deval L. Patrick sold 34,222 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the transaction, the director now directly owns 13,260 shares in the company, valued at approximately $437,712.60. The trade was a 72.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the stock in a transaction dated Tuesday, February 4th. The shares were 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 approximately $8,290,833.78. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 340,770 shares of company stock valued at $11,803,911 over the last 90 days. 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.