Glynn Capital Management LLC Sells 394,467 Shares of Toast, Inc. (NYSE:TOST)

Glynn Capital Management LLC lessened its stake in Toast, Inc. (NYSE:TOST) by 43.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 521,547 shares of the company’s stock after selling 394,467 shares during the period. Toast comprises about 4.5% of Glynn Capital Management LLC’s investment portfolio, making the stock its 11th largest position. Glynn Capital Management LLC’s holdings in Toast were worth $19,010,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Makena Capital Management LLC boosted its holdings in Toast by 7.6% in the third quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock valued at $7,768,000 after acquiring an additional 19,371 shares during the last quarter. KBC Group NV lifted its position in shares of Toast by 66.5% in the 3rd quarter. KBC Group NV now owns 42,838 shares of the company’s stock worth $1,213,000 after purchasing an additional 17,106 shares during the period. Geode Capital Management LLC boosted its stake in shares of Toast by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after purchasing an additional 155,212 shares during the last quarter. MML Investors Services LLC increased its position in shares of Toast by 40.6% during the third quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock worth $6,464,000 after buying an additional 65,957 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Toast by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock worth $107,108,000 after buying an additional 155,446 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Down 3.1 %

Shares of NYSE:TOST opened at $33.75 on Wednesday. The stock has a market cap of $16.67 billion, a price-to-earnings ratio of -3,371.13, a PEG ratio of 2.16 and a beta of 1.99. The business’s 50 day moving average is $37.90 and its 200 day moving average is $34.91. Toast, Inc. has a 12-month low of $21.32 and a 12-month high of $44.12.

Toast (NYSE:TOST) last posted its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (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 firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. As a group, equities research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on TOST shares. UBS Group upped their price target on shares of Toast from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Robert W. Baird upped their target price on Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Wells Fargo & Company increased their price target on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group set a $40.00 price objective on shares of Toast and gave the company a “neutral” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $40.48.

Insider Buying and Selling at Toast

In other news, Director Christopher P. Comparato sold 145,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the completion of the sale, the director now directly owns 182,451 shares of the company’s stock, valued at $6,575,534.04. This trade represents a 44.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Deval L. Patrick sold 34,222 shares of Toast stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $33.01, for a total value of $1,129,668.22. Following the sale, the director now owns 13,260 shares in the company, valued at $437,712.60. The trade was a 72.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,641 shares of company stock worth $8,937,776. Insiders own 13.32% of the company’s stock.

Toast 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.