Investment Management Corp VA ADV Makes New Investment in Toast, Inc. (NYSE:TOST)

Investment Management Corp VA ADV purchased a new position in Toast, Inc. (NYSE:TOST - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,413 shares of the company's stock, valued at approximately $380,000.

Several other hedge funds have also modified their holdings of TOST. Pinkerton Retirement Specialists LLC purchased a new stake in Toast during the 4th quarter valued at $224,000. Orion Capital Management LLC purchased a new stake in Toast during the 4th quarter valued at $128,000. Castleark Management LLC purchased a new stake in Toast during the 4th quarter valued at $436,000. PharVision Advisers LLC purchased a new stake in Toast in the fourth quarter worth $403,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Toast by 9.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,651,908 shares of the company's stock worth $60,212,000 after purchasing an additional 147,267 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Trading Down 0.5%

Shares of NYSE:TOST opened at $42.64 on Friday. Toast, Inc. has a 12-month low of $21.32 and a 12-month high of $45.56. The company has a market capitalization of $21.23 billion, a PE ratio of -4,259.34, a PEG ratio of 2.16 and a beta of 1.98. The business has a 50 day moving average of $36.31 and a two-hundred day moving average of $37.67.

Toast (NYSE:TOST - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business 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%. Equities research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TOST. Robert W. Baird raised their price target on Toast from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Oppenheimer began coverage on Toast in a research note on Friday, January 24th. They set an "outperform" rating and a $46.00 price target on the stock. The Goldman Sachs Group cut their price target on Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Wolfe Research upgraded Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price target on the stock in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. raised their price target on Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $40.91.

Insider Transactions at Toast

In related news, Director Paul D. Bell sold 11,000 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $45.13, for a total value of $496,430.00. Following the completion of the transaction, the director now directly owns 229,680 shares of the company's stock, valued at approximately $10,365,458.40. This represents a 4.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Deval L. Patrick sold 34,222 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $33.01, for a total value of $1,129,668.22. Following the completion of the sale, the director now owns 13,260 shares of the company's stock, valued at approximately $437,712.60. The trade was a 72.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 416,991 shares of company stock valued at $15,242,750 in the last three months. 13.32% of the stock is currently owned by company insiders.

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.

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