Syon Capital LLC Purchases New Holdings in Toast, Inc. (NYSE:TOST)

Syon Capital LLC acquired a new position in shares of Toast, Inc. (NYSE:TOST) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,631 shares of the company’s stock, valued at approximately $377,000.

A number of other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Toast during the 3rd quarter valued at about $2,040,000. Caprock Group LLC lifted its holdings in Toast by 13.1% in the third quarter. Caprock Group LLC now owns 12,208 shares of the company’s stock valued at $229,000 after buying an additional 1,413 shares during the period. Handelsbanken Fonder AB lifted its holdings in Toast by 8.4% in the third quarter. Handelsbanken Fonder AB now owns 52,700 shares of the company’s stock valued at $987,000 after buying an additional 4,100 shares during the period. Commonwealth Equity Services LLC boosted its stake in Toast by 53.8% in the third quarter. Commonwealth Equity Services LLC now owns 123,211 shares of the company’s stock valued at $2,308,000 after acquiring an additional 43,101 shares during the last quarter. Finally, Pinnacle Associates Ltd. acquired a new stake in Toast during the 3rd quarter worth $230,000. 82.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on TOST shares. UBS Group raised their price target on Toast from $22.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Mizuho restated a “neutral” rating and set a $17.00 target price on shares of Toast in a research report on Wednesday, March 27th. The Goldman Sachs Group upped their price target on Toast from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods started coverage on shares of Toast in a research note on Tuesday, April 9th. They set a “market perform” rating and a $25.00 price objective on the stock. Finally, Piper Sandler upped their target price on shares of Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.32.

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 224,900 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were 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 $2,945,445.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Toast news, President Stephen Fredette sold 2,272 shares of the firm’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 value of $53,164.80. Following the completion of the transaction, the president now directly owns 2,835,759 shares in the company, valued at $66,356,760.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Brian R. Elworthy sold 224,900 shares of the company’s stock in a transaction that occurred 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 sale, the general counsel now owns 160,340 shares in the company, valued at approximately $2,945,445.80. The disclosure for this sale can be found here. Insiders have sold 414,486 shares of company stock worth $8,662,487 over the last ninety days. Insiders own 13.70% of the company’s stock.

Toast Trading Up 3.4 %

TOST stock opened at $23.91 on Friday. The stock has a 50-day moving average price of $23.36 and a two-hundred day moving average price of $19.23. Toast, Inc. has a 1 year low of $13.77 and a 1 year high of $27.00. The stock has a market cap of $10.79 billion, a PE ratio of -46.88 and a beta of 1.79.

Toast (NYSE:TOST) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The business 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 company earned ($0.19) earnings per share. Toast’s quarterly revenue was up 34.7% on a year-over-year basis. On average, analysts forecast that Toast, Inc. will post -0.22 earnings per share for the current fiscal year.

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.