Redwood Investment Management LLC Purchases Shares of 12,776 Toast, Inc. (NYSE:TOST)

Redwood Investment Management LLC acquired a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,776 shares of the company's stock, valued at approximately $466,000.

Several other hedge funds and other institutional investors have also modified their holdings of TOST. Blue Trust Inc. raised its holdings in Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company's stock valued at $25,000 after buying an additional 378 shares in the last quarter. Piscataqua Savings Bank acquired a new stake in Toast during the fourth quarter worth about $26,000. Stonebridge Financial Group LLC acquired a new stake in Toast during the fourth quarter worth about $34,000. SBI Securities Co. Ltd. acquired a new stake in Toast during the fourth quarter worth about $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Toast during the fourth quarter worth about $40,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Evercore ISI assumed coverage on Toast in a report on Wednesday, April 9th. They set an "in-line" rating and a $29.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Toast from $39.00 to $46.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Wolfe Research raised Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective on the stock in a report on Wednesday, April 23rd. UBS Group lifted their target price on shares of Toast from $41.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, DA Davidson cut their target price on shares of Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Toast presently has a consensus rating of "Hold" and an average target price of $40.91.

Toast Stock Performance

Shares of TOST traded down $0.38 during trading hours on Tuesday, reaching $44.29. The stock had a trading volume of 5,505,942 shares, compared to its average volume of 6,861,973. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $45.56. The stock has a market capitalization of $22.06 billion, a PE ratio of -4,424.58, a PEG ratio of 2.16 and a beta of 1.98. The company's 50-day moving average is $35.99 and its two-hundred day moving average is $37.55.

Toast (NYSE:TOST - Get Free Report) last announced its 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). The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. Equities analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Deval L. Patrick sold 34,222 shares of the firm's stock in a transaction dated 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 completion of the sale, the director now directly owns 13,260 shares in the company, valued at $437,712.60. This trade represents a 72.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Stephen Fredette sold 70,340 shares of the firm's stock in a transaction dated 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 completion of the sale, the president now owns 1,574,316 shares of the company's stock, valued at approximately $53,322,082.92. This represents a 4.28% 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. 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.