Harvest Fund Management Co. Ltd Sells 1,289 Shares of Toast, Inc. (NYSE:TOST)

Harvest Fund Management Co. Ltd cut its stake in Toast, Inc. (NYSE:TOST) by 14.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,433 shares of the company’s stock after selling 1,289 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Toast were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in TOST. Victory Capital Management Inc. grew its position in Toast by 1.3% during the third quarter. Victory Capital Management Inc. now owns 49,663 shares of the company’s stock valued at $1,406,000 after buying an additional 661 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Toast during the third quarter valued at approximately $397,000. CIBC Asset Management Inc grew its position in Toast by 3.7% during the third quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock valued at $357,000 after buying an additional 448 shares during the period. Natixis Advisors LLC grew its position in Toast by 43.9% during the third quarter. Natixis Advisors LLC now owns 82,259 shares of the company’s stock valued at $2,329,000 after buying an additional 25,113 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Toast during the third quarter valued at approximately $257,000. 82.91% of the stock is currently owned by institutional investors.

Toast Stock Performance

Shares of TOST opened at $35.20 on Friday. The company’s fifty day moving average is $37.82 and its 200 day moving average is $34.99. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12. The stock has a market capitalization of $17.39 billion, a PE ratio of -3,516.78, a P/E/G ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST) last posted its quarterly earnings data 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 net margin of 0.40% and a return on equity of 1.54%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. As a group, research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TOST shares. BMO Capital Markets boosted their target price on shares of Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. BNP Paribas set a $37.00 price target on shares of Toast and gave the company a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada lifted their price target on shares of Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. DA Davidson reaffirmed a “neutral” rating and set a $38.00 price target (down previously from $44.00) on shares of Toast in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $40.48.

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 1,068 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the transaction, the president now owns 1,644,656 shares in the company, valued at $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were 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 $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 270,770 shares of company stock worth $9,409,211 over the last quarter. Insiders own 13.32% of the company’s stock.

Toast Company 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.