Arkfeld Wealth Strategies L.L.C. Cuts Holdings in Toast, Inc. (NYSE:TOST)

Arkfeld Wealth Strategies L.L.C. lowered its stake in shares of Toast, Inc. (NYSE:TOST) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 108,440 shares of the company’s stock after selling 830 shares during the period. Toast accounts for 1.7% of Arkfeld Wealth Strategies L.L.C.’s portfolio, making the stock its 15th largest position. Arkfeld Wealth Strategies L.L.C.’s holdings in Toast were worth $3,807,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TOST. Toth Financial Advisory Corp purchased a new stake in Toast during the third quarter valued at about $28,000. Raleigh Capital Management Inc. raised its holdings in shares of Toast by 93.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock valued at $42,000 after buying an additional 720 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Toast by 32.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after buying an additional 496 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in Toast in the 4th quarter worth approximately $58,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Toast in the third quarter worth approximately $59,000. 82.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TOST shares. DA Davidson restated a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Toast in a report on Thursday, December 5th. Piper Sandler boosted their price target on shares of Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Stephens upped their price target on shares of Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. The Goldman Sachs Group decreased their price objective on Toast from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. increased their target price on Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Toast currently has a consensus rating of “Hold” and a consensus target price of $35.74.

Insider Activity

In related news, CRO Jonathan Vassil sold 1,367 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $42,486.36. Following the sale, the executive now owns 39,834 shares of the company’s stock, valued at $1,238,040.72. The trade was a 3.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher P. Comparato sold 145,000 shares of the company’s stock in a transaction dated 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 owns 182,451 shares in the company, valued at approximately $6,575,534.04. This trade represents a 44.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 562,600 shares of company stock worth $21,823,932. Corporate insiders own 13.32% of the company’s stock.

Toast Stock Performance

Shares of TOST opened at $39.33 on Friday. 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 $38.83 and a two-hundred day simple moving average of $31.45.

Toast (NYSE:TOST) last released its earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the business posted ($0.09) EPS. As a group, equities research analysts predict that Toast, Inc. will post 0.03 EPS for the current 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.