Westbourne Investment Advisors Inc. Purchases 30,873 Shares of Toast, Inc. (NYSE:TOST)

Westbourne Investment Advisors Inc. increased its holdings in Toast, Inc. (NYSE:TOST) by 16.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 223,427 shares of the company’s stock after purchasing an additional 30,873 shares during the period. Toast makes up about 1.6% of Westbourne Investment Advisors Inc.’s investment portfolio, making the stock its 24th largest position. Westbourne Investment Advisors Inc. owned about 0.05% of Toast worth $4,080,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TOST. Baystate Wealth Management LLC bought a new stake in Toast in the third quarter worth $29,000. BluePath Capital Management LLC bought a new stake in shares of Toast in the 3rd quarter worth about $30,000. UniSuper Management Pty Ltd purchased a new position in shares of Toast during the 2nd quarter worth about $38,000. PNC Financial Services Group Inc. boosted its stake in shares of Toast by 277.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,710 shares of the company’s stock worth $31,000 after purchasing an additional 1,257 shares during the period. Finally, SRS Capital Advisors Inc. bought a new position in Toast during the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Trading Up 1.3 %

Shares of TOST traded up $0.32 during trading hours on Thursday, hitting $24.65. The company had a trading volume of 1,603,636 shares, compared to its average volume of 8,803,689. Toast, Inc. has a one year low of $13.77 and a one year high of $27.00. The company’s fifty day moving average price is $21.25 and its two-hundred day moving average price is $18.57. The company has a market capitalization of $10.77 billion, a PE ratio of -48.06 and a beta of 1.78.

Toast (NYSE:TOST) last announced its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the firm earned ($0.19) earnings per share. Toast’s revenue was up 34.7% compared to the same quarter last year. Analysts forecast that Toast, Inc. will post -0.22 earnings per share for the current year.

Analyst Ratings Changes

TOST has been the topic of several recent analyst reports. Redburn Atlantic upgraded Toast from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Wednesday, February 7th. Royal Bank of Canada increased their target price on Toast from $19.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Friday, February 16th. Evercore ISI started coverage on shares of Toast in a research note on Monday, March 4th. They set an “outperform” rating and a $32.00 target price for the company. BNP Paribas raised shares of Toast from a “neutral” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Thursday, March 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Toast from $12.00 to $15.00 and gave the company an “underweight” rating in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.20.

Insider Transactions at Toast

In other news, General Counsel Brian R. Elworthy sold 224,900 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $18.37, for a total transaction of $4,131,413.00. Following the sale, the general counsel now owns 160,340 shares in the company, valued at $2,945,445.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CRO Jonathan Vassil sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total value of $2,524,000.00. Following the transaction, the executive now directly owns 22,956 shares of the company’s stock, valued at approximately $579,409.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Brian R. Elworthy sold 224,900 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $18.37, for a total value of $4,131,413.00. Following the completion of the transaction, the general counsel now owns 160,340 shares of the company’s stock, valued at approximately $2,945,445.80. The disclosure for this sale can be found here. Insiders sold 359,444 shares of company stock valued at $7,276,642 in the last quarter. 13.70% of the stock is currently owned by corporate insiders.

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.