Stevens Capital Management LP Purchases New Stake in Toast, Inc. (NYSE:TOST)

Stevens Capital Management LP acquired a new stake in shares of Toast, Inc. (NYSE:TOST) during the fourth quarter, HoldingsChannel reports. The fund acquired 11,351 shares of the company’s stock, valued at approximately $207,000.

Other hedge funds have also added to or reduced their stakes in the company. Baystate Wealth Management LLC purchased a new position in Toast during the 3rd quarter valued at $29,000. BluePath Capital Management LLC purchased a new position in Toast during the 3rd quarter valued at $30,000. SRS Capital Advisors Inc. purchased a new position in Toast during the 3rd quarter valued at $33,000. Larson Financial Group LLC increased its position in Toast by 8,181.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,822 shares of the company’s stock valued at $34,000 after purchasing an additional 1,800 shares during the period. Finally, Spire Wealth Management grew its position in shares of Toast by 481.6% in the 3rd quarter. Spire Wealth Management now owns 1,838 shares of the company’s stock worth $34,000 after buying an additional 1,522 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on TOST. UBS Group upped their target price 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. Wells Fargo & Company increased their price objective on shares of Toast from $15.00 to $17.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. 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. Robert W. Baird upped their target price on shares of Toast from $24.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, Mizuho restated a “neutral” rating and set a $17.00 target price on shares of Toast in a research note on Wednesday, March 27th. One 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $24.32.

Insider Buying and Selling

In related news, CRO Jonathan Vassil sold 50,000 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $22.90, for a total value of $1,145,000.00. Following the completion of the sale, the executive now directly owns 25,422 shares of the company’s stock, valued at approximately $582,163.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Toast news, CRO Jonathan Vassil sold 50,000 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the completion of the sale, the executive now directly owns 25,422 shares of the company’s stock, valued at approximately $582,163.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Brian R. Elworthy sold 224,900 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $18.37, for a total transaction of $4,131,413.00. Following the sale, the general counsel now directly owns 160,340 shares of the company’s stock, valued at $2,945,445.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 414,486 shares of company stock valued at $8,662,487. 13.70% of the stock is owned by corporate insiders.

Toast Price Performance

Shares of NYSE:TOST traded up $0.79 during trading on Friday, hitting $23.91. The company’s stock had a trading volume of 6,396,283 shares, compared to its average volume of 8,090,827. The company has a 50-day moving average of $23.33 and a 200-day moving average of $19.19. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of -45.32 and a beta of 1.79. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $27.00.

Toast (NYSE:TOST) last released its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The firm’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) EPS. As a group, research analysts anticipate that Toast, Inc. will post -0.22 earnings per share for the current 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.