Forum Financial Management LP Invests $203,000 in Toast, Inc. (NYSE:TOST)

Forum Financial Management LP acquired a new stake in shares of Toast, Inc. (NYSE:TOST) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,582 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TOST. Barclays PLC raised its holdings in shares of Toast by 38.0% in the 3rd quarter. Barclays PLC now owns 309,426 shares of the company’s stock valued at $8,758,000 after acquiring an additional 85,171 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Toast in the third quarter valued at approximately $327,000. Wilmington Savings Fund Society FSB bought a new stake in Toast during the third quarter valued at approximately $59,000. Tidal Investments LLC grew its stake in Toast by 5.4% in the 3rd quarter. Tidal Investments LLC now owns 14,310 shares of the company’s stock worth $405,000 after buying an additional 734 shares in the last quarter. Finally, Synovus Financial Corp bought a new position in shares of Toast in the 3rd quarter worth $425,000. Institutional investors own 82.91% of the company’s stock.

Insiders Place Their Bets

In related news, Director Christopher P. Comparato sold 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $34.21, for a total transaction of $2,394,700.00. Following the completion of the sale, the director now owns 179,316 shares of the company’s stock, valued at $6,134,400.36. This trade represents a 28.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deval L. Patrick sold 34,222 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the completion of the transaction, 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. Over the last three months, insiders have sold 340,770 shares of company stock valued at $11,803,911. 13.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. BMO Capital Markets upped their target price on shares of Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Oppenheimer assumed coverage on Toast in a research report on Friday, January 24th. They set an “outperform” rating and a $46.00 price objective on the stock. Wells Fargo & Company upgraded Toast from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $30.00 to $39.00 in a research report on Thursday, April 10th. Canaccord Genuity Group increased their price target on shares of Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Royal Bank of Canada boosted their price objective on shares of Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $40.26.

Toast Trading Up 2.1 %

TOST opened at $34.89 on Thursday. Toast, Inc. has a 12-month low of $21.32 and a 12-month high of $44.12. The company has a market cap of $17.24 billion, a price-to-earnings ratio of -3,485.51, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. The stock has a fifty day simple moving average of $35.18 and a two-hundred day simple moving average of $36.22.

Toast (NYSE:TOST) last released 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 business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. On average, analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

Toast Company 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.