Petrus Trust Company LTA Makes New $407,000 Investment in Toast, Inc. $TOST

Petrus Trust Company LTA purchased a new stake in Toast, Inc. (NYSE:TOST - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,262 shares of the company's stock, valued at approximately $407,000.

Several other institutional investors have also recently added to or reduced their stakes in TOST. Comerica Bank raised its holdings in shares of Toast by 303.1% during the fourth quarter. Comerica Bank now owns 34,378 shares of the company's stock worth $1,253,000 after purchasing an additional 25,850 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Toast by 1,801.5% in the 4th quarter. Ameriprise Financial Inc. now owns 487,090 shares of the company's stock worth $17,754,000 after acquiring an additional 461,474 shares during the period. Benjamin Edwards Inc. acquired a new stake in shares of Toast in the 4th quarter worth about $236,000. Centiva Capital LP acquired a new stake in shares of Toast in the 4th quarter worth about $406,000. Finally, Cetera Investment Advisers increased its holdings in shares of Toast by 59.5% in the 4th quarter. Cetera Investment Advisers now owns 53,248 shares of the company's stock worth $1,941,000 after acquiring an additional 19,861 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TOST. JPMorgan Chase & Co. lifted their price objective on shares of Toast from $42.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Citigroup reaffirmed a "buy" rating on shares of Toast in a research note on Wednesday, July 16th. 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. The Goldman Sachs Group lifted their target price on shares of Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Finally, Truist Financial lifted their target price on shares of Toast from $48.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Fifteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, Toast currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.54.

Toast Trading Down 2.6%

NYSE TOST traded down $1.08 during trading on Wednesday, reaching $39.84. The company's stock had a trading volume of 10,767,254 shares, compared to its average volume of 7,799,813. The stock has a market capitalization of $20.32 billion, a PE ratio of 117.19 and a beta of 2.00. The business has a 50-day moving average price of $44.72 and a 200-day moving average price of $40.41. Toast, Inc. has a 1-year low of $23.06 and a 1-year high of $49.66.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.10). The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. Toast had a return on equity of 14.19% and a net margin of 4.07%.Toast's quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 earnings per share. As a group, analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Transactions at Toast

In other news, CFO Elena Gomez sold 2,006 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $48.38, for a total value of $97,050.28. Following the sale, the chief financial officer owned 141,263 shares of the company's stock, valued at approximately $6,834,303.94. This represents a 1.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Aman Narang sold 1,719 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $48.38, for a total transaction of $83,165.22. Following the completion of the sale, the chief executive officer owned 304,300 shares of the company's stock, valued at $14,722,034. The trade was a 0.56% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,342 shares of company stock worth $3,804,710. 12.14% 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.