Jefferies Financial Group Inc. Cuts Stock Holdings in Toast, Inc. $TOST

Jefferies Financial Group Inc. lessened its holdings in Toast, Inc. (NYSE:TOST) by 58.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 12,000 shares of the company’s stock after selling 16,722 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Toast were worth $531,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Prudential Financial Inc. raised its stake in Toast by 22.3% in the second quarter. Prudential Financial Inc. now owns 47,250 shares of the company’s stock worth $2,021,000 after buying an additional 8,616 shares in the last quarter. Coldstream Capital Management Inc. raised its position in shares of Toast by 44.2% in the 2nd quarter. Coldstream Capital Management Inc. now owns 5,263 shares of the company’s stock worth $233,000 after acquiring an additional 1,614 shares in the last quarter. Sierra Summit Advisors LLC purchased a new stake in shares of Toast during the 2nd quarter worth $4,607,000. Titleist Asset Management LLC bought a new stake in Toast during the second quarter valued at about $1,099,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Toast by 6.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,300,294 shares of the company’s stock valued at $146,170,000 after purchasing an additional 208,084 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on TOST shares. Royal Bank Of Canada set a $45.00 target price on shares of Toast in a report on Wednesday, November 5th. Wolfe Research reiterated an “outperform” rating and set a $48.00 price objective on shares of Toast in a research note on Wednesday, November 5th. DA Davidson set a $42.00 target price on shares of Toast in a research note on Wednesday, November 5th. Needham & Company LLC lifted their price target on shares of Toast from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, Robert W. Baird decreased their price objective on Toast from $48.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Toast presently has a consensus rating of “Moderate Buy” and an average price target of $45.29.

Insider Transactions at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 4,987 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $177,337.72. Following the completion of the transaction, the general counsel directly owned 227,924 shares of the company’s stock, valued at approximately $8,104,977.44. This trade represents a 2.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Aman Narang sold 13,652 shares of Toast stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $485,465.12. Following the sale, the chief executive officer owned 318,150 shares of the company’s stock, valued at approximately $11,313,414. The trade was a 4.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 49,759 shares of company stock valued at $1,769,270. 12.14% of the stock is owned by company insiders.

Toast Price Performance

Shares of TOST opened at $33.53 on Friday. The company’s fifty day moving average price is $36.53 and its 200-day moving average price is $41.26. Toast, Inc. has a 1-year low of $28.12 and a 1-year high of $49.66. The firm has a market capitalization of $17.27 billion, a PE ratio of 77.97 and a beta of 1.94.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Toast had a return on equity of 15.77% and a net margin of 4.68%.The business’s revenue was up 25.1% on a year-over-year basis. During the same quarter last year, the business earned $0.07 EPS. As a group, research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

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.