Riverbridge Partners LLC Sells 85,140 Shares of Toast, Inc. (NYSE:TOST)

Riverbridge Partners LLC trimmed its stake in shares of Toast, Inc. (NYSE:TOST) by 6.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,300,915 shares of the company’s stock after selling 85,140 shares during the quarter. Riverbridge Partners LLC owned 0.28% of Toast worth $47,418,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mirador Capital Partners LP grew 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 worth $1,529,000 after buying an additional 360 shares in the last quarter. D.A. Davidson & CO. raised its stake in Toast by 1.9% in the third quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock valued at $626,000 after purchasing an additional 409 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted 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 purchasing an additional 421 shares during the last quarter. Private Advisor Group LLC grew its stake in Toast by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock worth $797,000 after buying an additional 441 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Toast by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock worth $357,000 after buying an additional 448 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Price Performance

Shares of TOST opened at $38.74 on Thursday. Toast, Inc. has a one year low of $16.13 and a one year high of $44.12. The company has a 50-day simple moving average of $38.87 and a two-hundred day simple moving average of $31.25. The firm has a market capitalization of $18.25 billion, a PE ratio of -297.98, a price-to-earnings-growth ratio of 2.04 and a beta of 1.97.

Toast (NYSE:TOST) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%. During the same period in the previous year, the company posted ($0.09) earnings per share. Analysts expect that Toast, Inc. will post 0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. The Goldman Sachs Group reduced their target price on Toast from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Compass Point began coverage on Toast in a research report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price objective on the stock. Keefe, Bruyette & Woods boosted their target price on Toast from $29.00 to $40.00 and gave the stock a “market perform” rating in a research report on Monday, December 9th. Wells Fargo & Company boosted their target price on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Finally, DA Davidson reiterated a “neutral” rating and set a $38.00 price target (down from $44.00) on shares of Toast in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.27.

Insider Transactions at Toast

In related news, Director Christopher P. Comparato sold 145,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $36.04, for a total value of $5,225,800.00. Following the sale, the director now owns 182,451 shares in the company, valued at $6,575,534.04. This represents a 44.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David Yuan sold 189,785 shares of Toast stock in a transaction on Monday, November 25th. The shares were sold at an average price of $43.01, for a total value of $8,162,652.85. Following the transaction, the director now owns 198,829 shares of the company’s stock, valued at $8,551,635.29. The trade was a 48.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 562,600 shares of company stock valued at $21,823,932 in the last three months. 13.32% of the stock is currently owned by company insiders.

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.