Kayne Anderson Rudnick Investment Management LLC Has $40.15 Million Holdings in Toast, Inc. (NYSE:TOST)

Kayne Anderson Rudnick Investment Management LLC trimmed its position in shares of Toast, Inc. (NYSE:TOST) by 6.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,101,590 shares of the company’s stock after selling 70,011 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Toast were worth $40,153,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TOST. Blue Trust Inc. increased its position in Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after buying an additional 378 shares during the last quarter. Piscataqua Savings Bank acquired a new position in shares of Toast during the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new position in shares of Toast in the 4th quarter valued at approximately $34,000. SBI Securities Co. Ltd. acquired a new stake in Toast in the 4th quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Toast during the fourth quarter worth approximately $40,000. Institutional investors own 82.91% of the company’s stock.

Toast Trading Up 0.0 %

Shares of TOST opened at $34.30 on Monday. The company has a market cap of $16.95 billion, a price-to-earnings ratio of -3,426.97, a PEG ratio of 2.16 and a beta of 2.00. The company’s fifty day simple moving average is $35.43 and its 200 day simple moving average is $36.20. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $44.12.

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

Insiders Place Their Bets

In related news, CFO Elena Gomez sold 2,052 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $81,320.76. Following the completion of the sale, the chief financial officer now directly owns 160,498 shares in the company, valued at $6,360,535.74. The trade was a 1.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Stephen Fredette sold 1,068 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the completion of the transaction, the president now directly owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. This represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 340,770 shares of company stock valued at $11,803,911 over the last ninety days. 13.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Oppenheimer began coverage on shares of Toast in a research report on Friday, January 24th. They issued an “outperform” rating and a $46.00 price target on the stock. Royal Bank of Canada boosted their target price on shares of Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Robert W. Baird upped their price target on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Keefe, Bruyette & Woods lifted their price target on Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group cut their target price on shares of Toast from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $40.09.

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.