Moody National Bank Trust Division Boosts Stake in Toast, Inc. (NYSE:TOST)

Moody National Bank Trust Division raised its holdings in shares of Toast, Inc. (NYSE:TOST – Get Rating) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,566 shares of the company’s stock after buying an additional 6,000 shares during the quarter. Moody National Bank Trust Division’s holdings in Toast were worth $2,066,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in Toast by 104.2% during the third quarter. Bank of New York Mellon Corp now owns 1,309,351 shares of the company’s stock worth $21,894,000 after purchasing an additional 668,052 shares during the last quarter. California State Teachers Retirement System lifted its stake in Toast by 30.0% during the third quarter. California State Teachers Retirement System now owns 126,526 shares of the company’s stock worth $2,116,000 after purchasing an additional 29,233 shares during the last quarter. Balyasny Asset Management LLC lifted its stake in Toast by 94.0% during the third quarter. Balyasny Asset Management LLC now owns 1,432,284 shares of the company’s stock worth $23,948,000 after purchasing an additional 694,103 shares during the last quarter. Fred Alger Management LLC bought a new stake in Toast during the third quarter worth about $11,021,000. Finally, BNP Paribas Arbitrage SNC bought a new stake in Toast during the third quarter worth about $6,741,000. 50.82% of the stock is currently owned by hedge funds and other institutional investors.

Toast Price Performance

TOST traded down $0.30 during midday trading on Friday, reaching $17.11. 8,451,199 shares of the company’s stock traded hands, compared to its average volume of 6,983,417. The firm has a fifty day moving average of $20.49 and a two-hundred day moving average of $19.36. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of -24.80 and a beta of 1.80. Toast, Inc. has a 52 week low of $11.91 and a 52 week high of $26.03.

Toast (NYSE:TOST – Get Rating) last posted its earnings results on Thursday, February 16th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). Toast had a negative return on equity of 24.30% and a negative net margin of 10.03%. The firm had revenue of $769.00 million for the quarter, compared to analysts’ expectations of $753.13 million. During the same quarter last year, the company posted ($0.46) EPS. The firm’s revenue was up 50.2% on a year-over-year basis. Sell-side analysts forecast that Toast, Inc. will post -0.59 EPS for the current year.

Analysts Set New Price Targets

TOST has been the subject of several research analyst reports. Piper Sandler lifted their price target on Toast from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, February 17th. DA Davidson dropped their price target on Toast from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, February 21st. KeyCorp boosted their target price on Toast from $26.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, February 13th. Mizuho lowered their target price on Toast from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, February 17th. Finally, The Goldman Sachs Group lowered their target price on Toast from $23.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, January 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Toast currently has an average rating of “Hold” and a consensus price target of $23.75.

Insiders Place Their Bets

In other Toast news, COO Aman Narang sold 105,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $25.28, for a total transaction of $2,654,400.00. Following the transaction, the chief operating officer now owns 1,735,700 shares in the company, valued at approximately $43,878,496. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Stephen Fredette sold 136,364 shares of the company’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $22.14, for a total value of $3,019,098.96. Following the sale, the insider now owns 3,655,391 shares in the company, valued at approximately $80,930,356.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Aman Narang sold 105,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $25.28, for a total value of $2,654,400.00. Following the completion of the sale, the chief operating officer now owns 1,735,700 shares in the company, valued at approximately $43,878,496. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,060,408 shares of company stock worth $20,099,819. Company insiders own 20.16% of the company’s stock.

Toast Company Profile

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Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.