iA Global Asset Management Inc. Purchases 2,633 Shares of Toast, Inc. (NYSE:TOST)

iA Global Asset Management Inc. boosted its stake in shares of Toast, Inc. (NYSE:TOST) by 22.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,344 shares of the company’s stock after purchasing an additional 2,633 shares during the period. iA Global Asset Management Inc.’s holdings in Toast were worth $523,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. grew its position in Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after purchasing an additional 378 shares during the last quarter. Piscataqua Savings Bank purchased a new stake in Toast during the 4th quarter worth approximately $26,000. Stonebridge Financial Group LLC purchased a new stake in Toast during the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. purchased a new stake in Toast during the 4th quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Toast during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TOST. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Toast in a research report on Thursday, February 20th. UBS Group upped their price objective on shares of Toast from $41.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, February 20th. The Goldman Sachs Group set a $40.00 price objective on shares of Toast and gave the company a “neutral” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. upped their price objective on shares of Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Oppenheimer started coverage on shares of Toast in a report on Friday, January 24th. They issued an “outperform” rating and a $46.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $40.48.

Toast Stock Performance

NYSE:TOST opened at $35.20 on Friday. The company has a fifty day moving average of $37.82 and a two-hundred day moving average of $35.07. The stock has a market capitalization of $17.39 billion, a PE ratio of -3,516.78, a P/E/G ratio of 2.16 and a beta of 1.99. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12.

Toast (NYSE:TOST) last posted its quarterly earnings data 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). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. Research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Activity

In other news, Director Christopher P. Comparato sold 70,000 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $35.71, for a total value of $2,499,700.00. Following the completion of the sale, the director now directly owns 164,796 shares in the company, valued at $5,884,865.16. This represents a 29.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the sale, the general counsel now owns 209,206 shares of the company’s stock, valued at $8,290,833.78. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 270,770 shares of company stock worth $9,409,211 over the last three months. 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.