Sei Investments Co. Has $9.27 Million Stock Holdings in Toast, Inc. $TOST

Sei Investments Co. trimmed its holdings in shares of Toast, Inc. (NYSE:TOST) by 55.1% in the first quarter, Holdings Channel.com reports. The fund owned 349,515 shares of the company’s stock after selling 429,582 shares during the quarter. Sei Investments Co.’s holdings in Toast were worth $9,266,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in TOST. Bayban bought a new stake in shares of Toast in the 4th quarter valued at approximately $25,000. SHP Wealth Management bought a new stake in shares of Toast during the fourth quarter worth $29,000. Strive Financial Group LLC acquired a new stake in Toast in the 4th quarter valued at about $29,000. Silicon Valley Capital Partners acquired a new stake in shares of Toast in the fourth quarter valued at approximately $36,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Toast by 2,083.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,048 shares of the company’s stock valued at $37,000 after buying an additional 1,000 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Toast news, CEO Aman Narang sold 14,365 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total transaction of $414,430.25. Following the completion of the sale, the chief executive officer directly owned 70,451 shares in the company, valued at $2,032,511.35. This trade represents a 16.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Stephen Fredette sold 9,146 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total transaction of $263,862.10. Following the completion of the sale, the president directly owned 931,449 shares of the company’s stock, valued at approximately $26,872,303.65. The trade was a 0.97% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 159,265 shares of company stock valued at $4,278,832. Company insiders own 10.03% of the company’s stock.

Toast Trading Down 1.4%

TOST opened at $32.38 on Friday. The stock’s fifty day simple moving average is $27.47 and its 200 day simple moving average is $27.92. The stock has a market cap of $16.71 billion, a PE ratio of 49.82 and a beta of 1.74. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $49.66.

Toast (NYSE:TOST) last announced its earnings results on Thursday, May 7th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.08). Toast had a return on equity of 20.86% and a net margin of 6.39%.The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm posted $0.09 EPS. The business’s quarterly revenue was up 21.9% on a year-over-year basis. Equities analysts forecast that Toast, Inc. will post 0.97 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Citigroup lowered their price target on shares of Toast from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 8th. The Goldman Sachs Group upgraded Toast from a “neutral” rating to a “buy” rating and set a $36.00 price target for the company in a report on Thursday, July 9th. Truist Financial raised their price objective on shares of Toast from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, July 24th. BMO Capital Markets reissued an “outperform” rating on shares of Toast in a research report on Monday, June 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.15.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.