Private Advisor Group LLC Acquires Shares of 27,710 Toast, Inc. (NYSE:TOST)

Private Advisor Group LLC bought a new position in shares of Toast, Inc. (NYSE:TOST) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 27,710 shares of the company’s stock, valued at approximately $714,000.

A number of other institutional investors also recently modified their holdings of the business. Principal Securities Inc. acquired a new position in shares of Toast in the fourth quarter valued at approximately $30,000. Envestnet Portfolio Solutions Inc. raised its position in Toast by 5.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock worth $255,000 after purchasing an additional 774 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Toast by 8,092.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 69,386 shares of the company’s stock worth $1,267,000 after buying an additional 68,539 shares during the period. Norges Bank bought a new stake in shares of Toast in the 4th quarter valued at about $76,699,000. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of Toast by 65.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 47,523 shares of the company’s stock valued at $868,000 after buying an additional 18,808 shares during the period. Institutional investors own 82.91% of the company’s stock.

Analysts Set New Price Targets

TOST has been the topic of several analyst reports. Baird R W cut Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Morgan Stanley upped their price objective on shares of Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Robert W. Baird lowered shares of Toast from an “outperform” rating to a “neutral” rating and set a $28.00 target price on the stock. in a report on Tuesday, May 21st. Finally, Stephens reiterated an “equal weight” rating and set a $28.00 price target on shares of Toast in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.33.

Insider Activity

In related news, Director Christopher P. Comparato sold 90,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $26.54, for a total transaction of $2,388,600.00. Following the completion of the sale, the director now owns 112,282 shares in the company, valued at $2,979,964.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Christopher P. Comparato sold 90,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $26.54, for a total transaction of $2,388,600.00. Following the transaction, the director now directly owns 112,282 shares of the company’s stock, valued at $2,979,964.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the sale, the president now directly owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. The disclosure for this sale can be found here. Insiders have sold 651,612 shares of company stock worth $16,191,520 over the last 90 days. 13.32% of the stock is currently owned by corporate insiders.

Toast Trading Up 0.7 %

TOST opened at $26.75 on Wednesday. The company has a market cap of $12.12 billion, a price-to-earnings ratio of -53.50 and a beta of 1.75. The company’s fifty day moving average price is $24.93 and its two-hundred day moving average price is $24.53. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $27.90.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The firm’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.19) EPS. As a group, equities analysts forecast that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

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.