AGF Management Ltd. Makes New $7.88 Million Investment in Toast, Inc. (NYSE:TOST)

AGF Management Ltd. bought a new position in shares of Toast, Inc. (NYSE:TOST) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 216,120 shares of the company’s stock, valued at approximately $7,878,000.

Other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of Toast by 32.3% in the third quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after purchasing an additional 496 shares during the period. Entropy Technologies LP acquired a new stake in shares of Toast during the 3rd quarter valued at approximately $894,000. GSA Capital Partners LLP lifted its position in shares of Toast by 179.7% during the 3rd quarter. GSA Capital Partners LLP now owns 53,064 shares of the company’s stock valued at $1,502,000 after acquiring an additional 34,090 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Toast by 1.3% during the 3rd quarter. Victory Capital Management Inc. now owns 49,663 shares of the company’s stock worth $1,406,000 after acquiring an additional 661 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Toast in the 3rd quarter worth approximately $397,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Toast

In related news, General Counsel Brian R. Elworthy sold 653 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the sale, the general counsel now directly owns 209,206 shares in the company, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Jonathan Vassil sold 1,006 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $39,867.78. Following the transaction, the executive now directly owns 48,488 shares in the company, valued at $1,921,579.44. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,119 shares of company stock worth $7,797,608. 13.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on TOST. Wells Fargo & Company boosted 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. BNP Paribas set a $37.00 price objective on shares of Toast and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Compass Point began coverage on shares of Toast in a research note on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Toast in a research report on Thursday, February 20th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $38.00 price target (down previously from $44.00) on shares of Toast in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $40.48.

Toast Price Performance

NYSE TOST opened at $34.67 on Thursday. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $44.12. The firm has a market capitalization of $17.13 billion, a P/E ratio of -3,463.74, a P/E/G ratio of 2.16 and a beta of 1.99. The business’s 50-day simple moving average is $38.23 and its 200-day simple moving average is $34.57.

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