Castleark Management LLC Purchases Shares of 11,950 Toast, Inc. (NYSE:TOST)

Castleark Management LLC acquired a new stake in Toast, Inc. (NYSE:TOST) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 11,950 shares of the company’s stock, valued at approximately $436,000.

Several other institutional investors have also recently modified their holdings of TOST. Blue Trust Inc. boosted its position in Toast by 120.4% in 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 during the last quarter. Piscataqua Savings Bank acquired a new stake in Toast during the 4th quarter valued at approximately $26,000. Stonebridge Financial Group LLC acquired a new stake in Toast during the 4th quarter valued at approximately $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of Toast in the 4th quarter valued at $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Toast in the fourth quarter worth $40,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Paul D. Bell sold 11,000 shares of the firm’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $45.13, for a total value of $496,430.00. Following the transaction, the director now directly owns 229,680 shares of the company’s stock, valued at approximately $10,365,458.40. This trade represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Deval L. Patrick sold 34,222 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 13,260 shares in the company, valued at $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. Insiders have sold a total of 416,991 shares of company stock worth $15,242,750 over the last quarter. 13.32% of the stock is currently owned by corporate insiders.

Toast Stock Down 3.4%

TOST opened at $42.80 on Thursday. The company has a market cap of $21.32 billion, a PE ratio of -4,276.12, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $45.56. The company has a 50-day moving average price of $36.15 and a 200 day moving average price of $37.59.

Toast (NYSE:TOST) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 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 firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. As a group, sell-side analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TOST shares. Wells Fargo & Company boosted their target price on shares of Toast from $39.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Piper Sandler boosted their price objective on Toast from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Morgan Stanley upped their target price on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Toast in a research report on Thursday, February 20th. Finally, Wolfe Research raised Toast from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a report on Wednesday, April 23rd. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Toast currently has an average rating of “Hold” and a consensus price target of $40.91.

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.