Garden State Investment Advisory Services LLC Purchases Shares of 6,097 Toast, Inc. (NYSE:TOST)

Garden State Investment Advisory Services LLC acquired a new position in shares of Toast, Inc. (NYSE:TOST) in the 4th quarter, Holdings Channel.com reports. The fund acquired 6,097 shares of the company’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TOST. Charles Schwab Investment Management Inc. boosted its position in Toast by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock valued at $107,108,000 after purchasing an additional 155,446 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in shares of Toast by 134.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company’s stock valued at $14,319,000 after buying an additional 225,215 shares during the last quarter. New York Life Investment Management LLC bought a new position in shares of Toast in the fourth quarter valued at $1,572,000. Forsta AP Fonden increased its holdings in Toast by 191.4% during the fourth quarter. Forsta AP Fonden now owns 234,300 shares of the company’s stock worth $8,540,000 after buying an additional 153,900 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Toast by 129,058.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company’s stock worth $75,466,000 after acquiring an additional 2,072,680 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Morgan Stanley dropped their price objective on Toast from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday. Oppenheimer assumed coverage on shares of Toast in a report on Friday, January 24th. They issued an “outperform” rating and a $46.00 price objective on the stock. Canaccord Genuity Group raised their target price on shares of Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. BNP Paribas set a $37.00 price target on shares of Toast and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Evercore ISI began coverage on shares of Toast in a research report on Wednesday, April 9th. They set an “in-line” rating and a $29.00 price objective for the company. Thirteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.09.

Toast Trading Down 1.5 %

Shares of Toast stock opened at $34.32 on Thursday. The firm’s 50 day moving average is $35.83 and its 200 day moving average is $36.01. The firm has a market capitalization of $16.95 billion, a PE ratio of -3,428.57, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. Toast, Inc. has a 1 year low of $21.32 and a 1 year high of $44.12.

Toast (NYSE:TOST) last posted its 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 company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. As a group, research analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current year.

Insiders Place Their Bets

In other Toast news, Director Deval L. Patrick sold 34,222 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $33.01, for a total value of $1,129,668.22. Following the completion of the transaction, the director now directly owns 13,260 shares in the company, valued at approximately $437,712.60. This represents a 72.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the transaction, the director now owns 164,796 shares in the company, valued at approximately $5,884,865.16. This trade represents a 29.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 270,770 shares of company stock valued at $9,409,211 in the last 90 days. Corporate insiders own 13.32% of the company’s stock.

Toast 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.