Glynn Capital Management LLC Has $19.01 Million Holdings in Toast, Inc. (NYSE:TOST)

Glynn Capital Management LLC trimmed its position in shares of Toast, Inc. (NYSE:TOST) by 43.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 521,547 shares of the company’s stock after selling 394,467 shares during the period. Toast accounts for approximately 4.5% of Glynn Capital Management LLC’s investment portfolio, making the stock its 11th biggest position. Glynn Capital Management LLC owned approximately 0.11% of Toast worth $19,010,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after purchasing an additional 8,205,053 shares during the period. ValueAct Holdings L.P. acquired a new position in Toast during the third quarter worth approximately $438,301,000. State Street Corp raised its stake in Toast by 2.5% in the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock valued at $235,689,000 after buying an additional 206,789 shares during the period. Geode Capital Management LLC lifted its position in shares of Toast by 2.3% in the third quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after buying an additional 155,212 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Toast by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock worth $107,108,000 after acquiring an additional 155,446 shares during the period. 82.91% of the stock is owned by institutional investors.

Insider Activity

In other Toast news, Director Christopher P. Comparato sold 145,000 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $36.04, for a total value of $5,225,800.00. Following the completion of the transaction, the director now directly owns 182,451 shares in the company, valued at approximately $6,575,534.04. This trade represents a 44.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Stephen Fredette sold 1,068 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the sale, the president now owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. This trade represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,641 shares of company stock worth $8,937,776. Corporate insiders own 13.32% of the company’s stock.

Toast Price Performance

NYSE TOST opened at $33.75 on Wednesday. The business has a fifty day moving average price of $37.90 and a two-hundred day moving average price of $34.91. The stock has a market capitalization of $16.67 billion, a PE ratio of -3,371.13, a PEG ratio of 2.16 and a beta of 1.99. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12.

Toast (NYSE:TOST) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. As a group, sell-side analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TOST shares. BMO Capital Markets raised their price target on Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Compass Point started coverage on shares of Toast in a research note on Wednesday, November 20th. They set a “buy” rating and a $49.00 target price for the company. 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 note on Thursday, February 20th. DA Davidson restated a “neutral” rating and set a $38.00 price objective (down from $44.00) on shares of Toast in a research report on Thursday, December 5th. Finally, BNP Paribas set a $37.00 price objective on Toast and gave the stock a “neutral” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Toast presently has a consensus rating of “Hold” and an average price target of $40.48.

About Toast

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.