CANADA LIFE ASSURANCE Co Acquires 22,916 Shares of Toast, Inc. (NYSE:TOST)

CANADA LIFE ASSURANCE Co boosted its holdings in shares of Toast, Inc. (NYSE:TOST) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 301,892 shares of the company’s stock after acquiring an additional 22,916 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Toast were worth $10,998,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Barclays PLC raised its position in shares of Toast by 38.0% during the third quarter. Barclays PLC now owns 309,426 shares of the company’s stock worth $8,758,000 after acquiring an additional 85,171 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Toast in the 3rd quarter worth approximately $327,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Toast during the third quarter worth $59,000. Tidal Investments LLC raised its stake in Toast by 5.4% during the third quarter. Tidal Investments LLC now owns 14,310 shares of the company’s stock worth $405,000 after buying an additional 734 shares during the last quarter. Finally, Synovus Financial Corp acquired a new position in Toast in the third quarter valued at $425,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Trading Down 3.4 %

Shares of Toast stock opened at $33.12 on Tuesday. The firm has a market capitalization of $16.36 billion, a P/E ratio of -3,308.69, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. The business’s fifty day simple moving average is $35.30 and its 200 day simple moving average is $36.23. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $44.12.

Toast (NYSE:TOST) last issued 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 company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TOST. The Goldman Sachs Group dropped their price objective on Toast from $43.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. boosted their target price on shares of Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Wells Fargo & Company raised shares of Toast from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $30.00 to $39.00 in a research note on Thursday, April 10th. Royal Bank of Canada boosted their target price on Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Finally, BNP Paribas set a $37.00 price target on Toast and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.09.

Insider Buying and Selling at Toast

In other news, CFO Elena Gomez sold 2,052 shares of the firm’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 transaction, the chief financial officer now directly owns 160,498 shares of the company’s stock, valued at $6,360,535.74. This trade represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jonathan Vassil sold 1,006 shares of the business’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 $39,867.78. Following the sale, the executive now owns 48,488 shares in the company, valued at approximately $1,921,579.44. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 340,770 shares of company stock valued at $11,803,911. Company insiders own 13.32% of the company’s stock.

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.