Bayforest Capital Ltd Has $999,000 Stake in Toast, Inc. (NYSE:TOST)

Bayforest Capital Ltd grew its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 213.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,116 shares of the company's stock after acquiring an additional 20,518 shares during the period. Bayforest Capital Ltd's holdings in Toast were worth $999,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Capital International Investors raised its position in shares of Toast by 1.9% in the fourth quarter. Capital International Investors now owns 41,961,233 shares of the company's stock valued at $1,529,657,000 after buying an additional 785,641 shares in the last quarter. FMR LLC raised its position in shares of Toast by 22.1% in the fourth quarter. FMR LLC now owns 29,853,639 shares of the company's stock valued at $1,088,165,000 after buying an additional 5,403,896 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Toast by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company's stock valued at $256,970,000 after buying an additional 195,805 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Toast by 2.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,755,872 shares of the company's stock valued at $190,922,000 after acquiring an additional 160,088 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Toast by 14,258.8% in the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock valued at $181,587,000 after acquiring an additional 5,436,317 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TOST. Deutsche Bank Aktiengesellschaft began coverage on shares of Toast in a research note on Thursday, July 17th. They issued a "buy" rating and a $54.00 price objective on the stock. Piper Sandler lifted their price objective on shares of Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Truist Financial lifted their price objective on shares of Toast from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Wells Fargo & Company began coverage on shares of Toast in a research note on Wednesday, July 16th. They issued a "buy" rating on the stock. Finally, Citigroup reissued a "buy" rating on shares of Toast in a research note on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Toast currently has a consensus rating of "Moderate Buy" and an average target price of $43.42.

Toast Stock Performance

Shares of NYSE:TOST traded down $2.10 during mid-day trading on Friday, reaching $46.74. 8,977,786 shares of the company's stock were exchanged, compared to its average volume of 7,162,285. The firm has a market capitalization of $23.28 billion, a price-to-earnings ratio of 203.22 and a beta of 2.00. The business's fifty day moving average price is $44.07 and its 200-day moving average price is $39.50. Toast, Inc. has a twelve month low of $22.10 and a twelve month high of $49.56.

Insiders Place Their Bets

In related news, Director Christopher P. Comparato sold 70,000 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $44.74, for a total value of $3,131,800.00. Following the transaction, the director owned 187,140 shares in the company, valued at $8,372,643.60. The trade was a 27.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul D. Bell sold 11,000 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $45.13, for a total transaction of $496,430.00. Following the completion of the transaction, the director owned 229,680 shares in the company, valued at approximately $10,365,458.40. The trade was a 4.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 466,131 shares of company stock valued at $20,048,851 over the last quarter. Company insiders own 13.32% of the company's stock.

Toast 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.