Lecap Asset Management Ltd. Takes Position in Toast, Inc. (NYSE:TOST)

Lecap Asset Management Ltd. acquired a new stake in shares of Toast, Inc. (NYSE:TOST) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,847 shares of the company’s stock, valued at approximately $965,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Baystate Wealth Management LLC purchased a new stake in shares of Toast during the third quarter valued at approximately $29,000. BluePath Capital Management LLC purchased a new stake in shares of Toast during the third quarter valued at approximately $30,000. PNC Financial Services Group Inc. grew its holdings in shares of Toast by 277.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,710 shares of the company’s stock valued at $31,000 after buying an additional 1,257 shares during the last quarter. SRS Capital Advisors Inc. purchased a new stake in shares of Toast during the third quarter valued at approximately $33,000. Finally, Larson Financial Group LLC grew its holdings in shares of Toast by 8,181.8% during the third quarter. Larson Financial Group LLC now owns 1,822 shares of the company’s stock valued at $34,000 after buying an additional 1,800 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on TOST. Mizuho restated a “neutral” rating and issued a $17.00 target price on shares of Toast in a report on Wednesday, March 27th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $23.00 price target on shares of Toast in a research report on Thursday. Evercore ISI started coverage on shares of Toast in a research report on Monday, March 4th. They issued an “outperform” rating and a $32.00 price target on the stock. UBS Group increased their price target on shares of Toast from $22.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Finally, The Goldman Sachs Group upgraded shares of Toast from a “neutral” rating to a “buy” rating and increased their price target for the stock from $16.00 to $24.00 in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $23.53.

Insider Buying and Selling

In other news, General Counsel Brian R. Elworthy sold 1,481 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $34,655.40. Following the completion of the sale, the general counsel now owns 162,883 shares in the company, valued at approximately $3,811,462.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CRO Jonathan Vassil sold 2,282 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $53,398.80. Following the completion of the transaction, the executive now owns 25,422 shares in the company, valued at approximately $594,874.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 1,481 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $34,655.40. Following the transaction, the general counsel now owns 162,883 shares of the company’s stock, valued at approximately $3,811,462.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 364,747 shares of company stock valued at $7,517,515. Company insiders own 13.70% of the company’s stock.

Toast Stock Performance

Shares of NYSE:TOST traded down $0.74 on Friday, reaching $23.82. The company’s stock had a trading volume of 4,909,645 shares, compared to its average volume of 5,820,115. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $27.00. The company has a market cap of $10.41 billion, a P/E ratio of -46.71 and a beta of 1.79. The company has a 50-day simple moving average of $22.73 and a 200 day simple moving average of $18.90.

Toast (NYSE:TOST) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company posted ($0.19) EPS. The business’s revenue was up 34.7% on a year-over-year basis. On average, equities research analysts forecast that Toast, Inc. will post -0.22 EPS for the current fiscal year.

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.