Toast, Inc. (NYSE:TOST) Stake Boosted by Truist Financial Corp

Truist Financial Corp grew its stake in shares of Toast, Inc. (NYSE:TOST) by 13.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,698 shares of the company’s stock after purchasing an additional 3,397 shares during the quarter. Truist Financial Corp’s holdings in Toast were worth $1,046,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in TOST. Blue Trust Inc. grew its holdings in shares of Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after purchasing an additional 378 shares during the last quarter. Piscataqua Savings Bank bought a new position in shares of Toast during the fourth quarter valued at approximately $26,000. Stonebridge Financial Group LLC bought a new position in shares of Toast during the fourth quarter valued at approximately $34,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Toast during the fourth quarter worth approximately $40,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Toast during the fourth quarter worth approximately $42,000. 82.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Toast

In other news, Director Christopher P. Comparato sold 145,000 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $36.04, for a total value of $5,225,800.00. Following the transaction, the director now directly owns 182,451 shares of the company’s stock, valued at approximately $6,575,534.04. This represents a 44.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Stephen Fredette sold 1,068 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $42,324.84. Following the completion of the transaction, the president now directly owns 1,644,656 shares in the company, valued at $65,177,717.28. This trade represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 149,779 shares of company stock valued at $5,415,192 in the last three months. 13.32% of the stock is currently owned by company insiders.

Toast Stock Up 3.0 %

Shares of NYSE:TOST opened at $38.65 on Friday. The company’s fifty day moving average is $38.59 and its two-hundred day moving average is $33.82. Toast, Inc. has a 12-month low of $21.32 and a 12-month high of $44.12. The company has a market cap of $18.20 billion, a P/E ratio of -3,860.74, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98.

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

Analysts Set New Price Targets

TOST has been the subject of several analyst reports. The Goldman Sachs Group set a $40.00 price objective on Toast and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Robert W. Baird boosted their price objective on Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Wells Fargo & Company upped their target price on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Piper Sandler upped their target price on Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Finally, BMO Capital Markets upped their target price on Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. One 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.09.

Toast Company 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.