Highland Capital Management LLC Buys New Position in Toast, Inc. (NYSE:TOST)

Highland Capital Management LLC purchased a new position in Toast, Inc. (NYSE:TOST) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 34,231 shares of the company’s stock, valued at approximately $1,248,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. raised its holdings in Toast by 120.4% in 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 period. Piscataqua Savings Bank purchased a new stake in Toast in the fourth quarter worth about $26,000. Toth Financial Advisory Corp bought a new position in shares of Toast in the third quarter worth about $28,000. Raleigh Capital Management Inc. lifted its position in shares of Toast by 93.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock valued at $42,000 after buying an additional 720 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Toast by 32.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after acquiring an additional 496 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Robert W. Baird raised their price objective on shares of Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. DA Davidson reaffirmed a “neutral” rating and issued a $38.00 target price (down previously from $44.00) on shares of Toast in a report on Thursday, December 5th. Piper Sandler raised their price target on Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company upped their price objective on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.74.

Toast Trading Up 0.7 %

TOST opened at $40.32 on Friday. Toast, Inc. has a 12 month low of $17.65 and a 12 month high of $44.12. The stock has a 50-day moving average of $38.67 and a 200 day moving average of $31.83.

Toast (NYSE:TOST) last announced its earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the business earned ($0.09) EPS. On average, analysts expect that Toast, Inc. will post 0.03 earnings per share for the current year.

Insider Buying and Selling at Toast

In other Toast news, Director David Yuan sold 189,785 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $43.01, for a total value of $8,162,652.85. Following the sale, the director now owns 198,829 shares in the company, valued at $8,551,635.29. This trade represents a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard Kent Bennett sold 100,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $36.67, for a total transaction of $3,667,000.00. Following the sale, the director now directly owns 418,591 shares of the company’s stock, valued at $15,349,731.97. This represents a 19.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 562,600 shares of company stock worth $21,823,932 over the last quarter. Insiders own 13.32% of the company’s stock.

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.