Twin Capital Management Inc. Increases Stake in Toast, Inc. (NYSE:TOST)

Twin Capital Management Inc. increased its position in shares of Toast, Inc. (NYSE:TOST) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,881 shares of the company’s stock after buying an additional 3,088 shares during the period. Twin Capital Management Inc.’s holdings in Toast were worth $2,183,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after acquiring an additional 378 shares in the last quarter. Piscataqua Savings Bank purchased a new stake in shares of Toast in the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of Toast in the 4th quarter valued at about $34,000. SBI Securities Co. Ltd. acquired a new stake in shares of Toast in the 4th quarter valued at about $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Toast during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Performance

NYSE TOST opened at $30.58 on Monday. The company’s 50 day moving average price is $37.16 and its 200 day moving average price is $35.79. Toast, Inc. has a one year low of $21.32 and a one year high of $44.12. The firm has a market capitalization of $15.10 billion, a price-to-earnings ratio of -3,054.55, a PEG ratio of 2.16 and a beta of 2.00.

Toast (NYSE:TOST) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. Sell-side analysts forecast that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. BNP Paribas set a $37.00 target price on shares of Toast and gave the company a “neutral” rating in a report on Wednesday, February 19th. Morgan Stanley lifted their price objective on shares of Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. BMO Capital Markets increased their target price on shares of Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. UBS Group increased their price objective on Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Oppenheimer assumed coverage on shares of Toast in a research report on Friday, January 24th. They issued an “outperform” rating and a $46.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Toast has an average rating of “Hold” and an average price target of $40.38.

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 653 shares of the company’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 $25,878.39. Following the sale, the general counsel now directly owns 209,206 shares of the company’s stock, valued at $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Deval L. Patrick sold 34,222 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the transaction, the director now owns 13,260 shares in the company, valued at $437,712.60. This trade represents a 72.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 270,770 shares of company stock worth $9,409,211. 13.32% of the stock is currently owned by company insiders.

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.