PharVision Advisers LLC Acquires New Shares in Toast, Inc. (NYSE:TOST)

PharVision Advisers LLC purchased a new position in Toast, Inc. (NYSE:TOST - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 11,058 shares of the company's stock, valued at approximately $403,000.

Several other hedge funds and other institutional investors have also modified their holdings of TOST. Charles Schwab Investment Management Inc. boosted its holdings in Toast by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock valued at $107,108,000 after purchasing an additional 155,446 shares during the period. Jupiter Asset Management Ltd. raised its position in shares of Toast by 134.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company's stock valued at $14,319,000 after buying an additional 225,215 shares during the last quarter. New York Life Investment Management LLC acquired a new position in shares of Toast during the fourth quarter valued at about $1,572,000. Forsta AP Fonden raised its position in shares of Toast by 191.4% during the fourth quarter. Forsta AP Fonden now owns 234,300 shares of the company's stock valued at $8,540,000 after buying an additional 153,900 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Toast during the fourth quarter valued at about $83,684,000. Institutional investors and hedge funds own 82.91% of the company's stock.

Insiders Place Their Bets

In other Toast news, Director Deval L. Patrick sold 34,222 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $33.01, for a total value of $1,129,668.22. Following the transaction, the director now directly owns 13,260 shares in the company, valued at approximately $437,712.60. This trade represents a 72.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Fredette sold 70,340 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $33.87, for a total value of $2,382,415.80. Following the transaction, the president now directly owns 1,574,316 shares in the company, valued at $53,322,082.92. This trade represents a 4.28% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 416,991 shares of company stock valued at $15,242,750. Insiders own 13.32% of the company's stock.

Toast Price Performance

Shares of TOST stock traded down $0.20 during trading hours on Friday, hitting $42.48. 4,795,381 shares of the company's stock were exchanged, compared to its average volume of 6,849,444. The stock's 50-day moving average is $36.49 and its 200-day moving average is $37.75. The stock has a market cap of $21.16 billion, a price-to-earnings ratio of -4,243.76, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $45.56.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Equities research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TOST. The Goldman Sachs Group lowered 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. DA Davidson reduced their target price on Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods raised their target price on Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a research report on Thursday, February 20th. Canaccord Genuity Group increased their price objective on shares of Toast from $43.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC restated a "buy" rating and issued a $50.00 price objective on shares of Toast in a research note on Thursday, February 20th. Twelve investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $40.91.

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.