Glynn Capital Management LLC Has $19.36 Million Holdings in Toast, Inc. (NYSE:TOST)

Glynn Capital Management LLC decreased its position in Toast, Inc. (NYSE:TOST) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,060,257 shares of the company’s stock after selling 14,217 shares during the quarter. Toast accounts for approximately 3.6% of Glynn Capital Management LLC’s holdings, making the stock its 12th largest holding. Glynn Capital Management LLC owned 0.25% of Toast worth $19,360,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Baystate Wealth Management LLC acquired a new position in Toast during the third quarter worth $29,000. BluePath Capital Management LLC acquired a new position in shares of Toast during the 3rd quarter worth about $30,000. SRS Capital Advisors Inc. bought a new position in shares of Toast in the 3rd quarter valued at about $33,000. Larson Financial Group LLC grew its holdings in shares of Toast by 8,181.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,822 shares of the company’s stock valued at $34,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Spire Wealth Management increased its position in shares of Toast by 481.6% in the third quarter. Spire Wealth Management now owns 1,838 shares of the company’s stock valued at $34,000 after acquiring an additional 1,522 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Performance

Shares of TOST stock traded down $0.78 on Wednesday, hitting $22.85. The company’s stock had a trading volume of 3,743,411 shares, compared to its average volume of 7,955,146. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $27.00. The company has a market capitalization of $10.31 billion, a PE ratio of -44.69 and a beta of 1.79. The stock’s 50 day moving average is $23.42 and its 200-day moving average is $19.33.

Toast (NYSE:TOST) last announced its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the business posted ($0.19) EPS. The business’s revenue was up 34.7% compared to the same quarter last year. On average, research analysts forecast that Toast, Inc. will post -0.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, President Stephen Fredette sold 2,272 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $53,164.80. Following the completion of the transaction, the president now owns 2,835,759 shares of the company’s stock, valued at $66,356,760.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Toast news, CRO Jonathan Vassil sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the completion of the sale, the executive now directly owns 22,956 shares in the company, valued at $579,409.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Fredette sold 2,272 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $53,164.80. Following the completion of the sale, the president now directly owns 2,835,759 shares in the company, valued at approximately $66,356,760.60. The disclosure for this sale can be found here. Insiders have sold a total of 414,486 shares of company stock worth $8,662,487 in the last 90 days. Company insiders own 13.70% of the company’s stock.

Wall Street Analyst Weigh In

TOST has been the subject of several recent research reports. UBS Group increased their price target on Toast from $22.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Redburn Atlantic raised shares of Toast from a “neutral” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Wednesday, February 7th. Wells Fargo & Company upped their price target on shares of Toast from $15.00 to $17.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. The Goldman Sachs Group lifted their price objective on shares of Toast from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Finally, Evercore ISI assumed coverage on Toast in a report on Monday, March 4th. They set an “outperform” rating and a $32.00 price target for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.32.

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.