Global Trust Asset Management LLC Makes New Investment in Toast, Inc. (NYSE:TOST)

Global Trust Asset Management LLC bought a new stake in Toast, Inc. (NYSE:TOST) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,600 shares of the company’s stock, valued at approximately $58,000.

Several other institutional investors and hedge funds have also modified their holdings of TOST. Makena Capital Management LLC increased its position in Toast by 7.6% in the 3rd quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock valued at $7,768,000 after acquiring an additional 19,371 shares in the last quarter. KBC Group NV grew its stake in shares of Toast by 66.5% during the third quarter. KBC Group NV now owns 42,838 shares of the company’s stock valued at $1,213,000 after purchasing an additional 17,106 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 purchasing an additional 155,212 shares in the last quarter. MML Investors Services LLC raised its position in Toast by 40.6% in the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock worth $6,464,000 after purchasing an additional 65,957 shares during the last quarter. Finally, Qsemble Capital Management LP lifted its holdings in Toast by 52.1% during the 3rd quarter. Qsemble Capital Management LP now owns 67,796 shares of the company’s stock worth $1,919,000 after buying an additional 23,231 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TOST has been the subject of several research reports. Stephens lifted their target price on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. DA Davidson reiterated a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Toast in a research report on Thursday, December 5th. Piper Sandler upped their target price on shares of Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. BNP Paribas lowered shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Wednesday, November 20th. Finally, Robert W. Baird boosted their price target on shares of Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and a consensus target price of $35.27.

Toast Stock Up 0.2 %

Toast stock opened at $38.74 on Thursday. The company has a 50 day moving average of $38.87 and a 200-day moving average of $31.25. Toast, Inc. has a twelve month low of $16.13 and a twelve month high of $44.12. The stock has a market capitalization of $18.25 billion, a PE ratio of -297.98, a price-to-earnings-growth ratio of 2.04 and a beta of 1.97.

Toast (NYSE:TOST) last announced its earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. During the same period in the prior year, the business earned ($0.09) EPS. Equities analysts anticipate that Toast, Inc. will post 0.03 EPS for the current fiscal year.

Insider Activity at Toast

In other news, CRO Jonathan Vassil sold 1,367 shares of Toast stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $42,486.36. Following the sale, the executive now directly owns 39,834 shares in the company, valued at $1,238,040.72. This trade represents a 3.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher P. Comparato sold 145,000 shares of the business’s stock in a transaction on 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 directly owns 182,451 shares in the company, valued at approximately $6,575,534.04. This represents a 44.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 562,600 shares of company stock valued at $21,823,932. 13.32% of the stock is owned by insiders.

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.