Mariner LLC Decreases Holdings in Toast, Inc. (NYSE:TOST)

Mariner LLC reduced its position in Toast, Inc. (NYSE:TOST) by 16.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 185,919 shares of the company’s stock after selling 37,135 shares during the quarter. Mariner LLC’s holdings in Toast were worth $6,777,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Barclays PLC grew its stake in Toast by 103.7% during the 4th quarter. Barclays PLC now owns 630,172 shares of the company’s stock worth $22,969,000 after buying an additional 320,746 shares during the last quarter. Next Century Growth Investors LLC acquired a new stake in Toast in the fourth quarter worth about $1,657,000. Qtron Investments LLC purchased a new stake in shares of Toast during the fourth quarter worth about $447,000. Covestor Ltd increased its holdings in shares of Toast by 27.0% during the fourth quarter. Covestor Ltd now owns 2,990 shares of the company’s stock valued at $109,000 after acquiring an additional 635 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Toast by 5.5% in the 4th quarter. Treasurer of the State of North Carolina now owns 204,474 shares of the company’s stock valued at $7,453,000 after purchasing an additional 10,650 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Toast Price Performance

Toast stock opened at $34.30 on Friday. The stock has a market capitalization of $16.95 billion, a PE ratio of -3,426.97, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. The business has a 50 day simple moving average of $35.43 and a 200-day simple moving average of $36.14. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $44.12.

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). The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. On average, equities research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TOST has been the topic of several research analyst reports. Royal Bank of Canada boosted their target price on shares of Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods upped their target price on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research report 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 report on Thursday, February 20th. UBS Group increased their price objective on Toast from $41.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, BMO Capital Markets lifted 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 analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $40.09.

Insider Buying and Selling

In related news, General Counsel Brian R. Elworthy sold 653 shares of the business’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 completion of the sale, the general counsel now directly owns 209,206 shares in the company, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher P. Comparato sold 70,000 shares of the firm’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $34.21, for a total value of $2,394,700.00. Following the completion of the transaction, the director now owns 179,316 shares in the company, valued at $6,134,400.36. The trade was a 28.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 340,770 shares of company stock worth $11,803,911 in the last 90 days. 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.