Newbridge Financial Services Group Inc. Purchases 18,228 Shares of Toast, Inc. $TOST

Newbridge Financial Services Group Inc. increased its position in shares of Toast, Inc. (NYSE:TOST) by 1,585.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,378 shares of the company’s stock after buying an additional 18,228 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Toast were worth $858,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its position in shares of Toast by 331.0% during the second quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock worth $380,978,000 after purchasing an additional 6,606,245 shares during the period. Norges Bank acquired a new position in Toast during the second quarter worth $219,324,000. Marshall Wace LLP raised its holdings in Toast by 108.3% during the second quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock worth $349,333,000 after buying an additional 4,100,104 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Toast by 17.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock valued at $777,978,000 after buying an additional 3,490,686 shares in the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in shares of Toast during the first quarter valued at about $86,650,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TOST. Wolfe Research restated an “outperform” rating and issued a $48.00 target price on shares of Toast in a report on Wednesday, November 5th. Royal Bank Of Canada set a $45.00 price objective on Toast in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Toast in a research report on Monday, December 8th. Citigroup raised Toast to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. upgraded Toast from a “neutral” rating to an “overweight” rating and set a $43.00 price objective on the stock in a research note on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.18.

Toast Trading Down 2.0%

Shares of Toast stock opened at $35.26 on Friday. The business’s fifty day simple moving average is $35.98 and its 200 day simple moving average is $40.58. Toast, Inc. has a 12 month low of $28.12 and a 12 month high of $49.66. The firm has a market capitalization of $18.16 billion, a P/E ratio of 82.00 and a beta of 1.94.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. Toast had a net margin of 4.68% and a return on equity of 15.77%. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 EPS. Analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at Toast

In other Toast news, CRO Jonathan Vassil sold 1,442 shares of Toast stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total value of $51,248.68. Following the sale, the executive owned 71,424 shares of the company’s stock, valued at approximately $2,538,408.96. The trade was a 1.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Elena Gomez sold 2,021 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $71,826.34. Following the transaction, the chief financial officer directly owned 151,463 shares of the company’s stock, valued at $5,382,995.02. This represents a 1.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 49,759 shares of company stock valued at $1,769,270 in the last three months. 12.14% of the stock is owned by corporate insiders.

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.