Picton Mahoney Asset Management Purchases Shares of 23,836 Toast, Inc. (NYSE:TOST)

Picton Mahoney Asset Management acquired a new position in Toast, Inc. (NYSE:TOST) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 23,836 shares of the company’s stock, valued at approximately $435,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TOST. Brown Advisory Inc. grew its holdings in Toast by 2.6% during the third quarter. Brown Advisory Inc. now owns 26,861 shares of the company’s stock worth $503,000 after acquiring an additional 675 shares during the period. Treasurer of the State of North Carolina raised its position in shares of Toast by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 155,598 shares of the company’s stock worth $2,914,000 after acquiring an additional 790 shares during the period. Orion Capital Management LLC boosted its stake in shares of Toast by 22.5% during the 4th quarter. Orion Capital Management LLC now owns 4,350 shares of the company’s stock worth $79,000 after acquiring an additional 800 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Toast by 3.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 23,938 shares of the company’s stock valued at $448,000 after acquiring an additional 802 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Toast by 1.0% in the 3rd quarter. Arizona State Retirement System now owns 84,327 shares of the company’s stock valued at $1,579,000 after purchasing an additional 820 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Trading Up 13.0 %

Shares of NYSE:TOST opened at $26.82 on Thursday. The company has a market cap of $12.10 billion, a PE ratio of -52.59 and a beta of 1.77. The company’s 50 day moving average is $23.71 and its two-hundred day moving average is $19.57. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $27.31.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, meeting analysts’ consensus estimates of ($0.15). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The company’s revenue was up 31.3% on a year-over-year basis. During the same period last year, the firm posted ($0.16) EPS. As a group, equities research analysts expect that Toast, Inc. will post -0.22 EPS for the current year.

Analyst Upgrades and Downgrades

TOST has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Toast from $25.00 to $26.00 and gave the stock a “market perform” rating in a research report on Wednesday. Robert W. Baird lifted their price target on Toast from $24.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Piper Sandler raised their price objective on Toast from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday. Royal Bank of Canada upped their target price on shares of Toast from $23.00 to $27.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Redburn Atlantic raised shares of Toast from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.80.

Insider Buying and Selling at Toast

In other Toast news, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CRO Jonathan Vassil sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the completion of the transaction, the executive now directly owns 22,956 shares of the company’s stock, valued at approximately $579,409.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James Michael Matlock sold 4,151 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $23.19, for a total value of $96,261.69. Following the completion of the sale, the insider now directly owns 46,510 shares of the company’s stock, valued at $1,078,566.90. The disclosure for this sale can be found here. Insiders sold a total of 180,510 shares of company stock valued at $4,381,885 in the last ninety days. Insiders own 13.32% of the company’s stock.

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.