E. Ohman J or Asset Management AB Makes New Investment in Toast, Inc. (NYSE:TOST)

E. Ohman J or Asset Management AB bought a new position in Toast, Inc. (NYSE:TOST) in the third quarter, HoldingsChannel reports. The fund bought 17,400 shares of the company’s stock, valued at approximately $493,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. West Branch Capital LLC acquired a new position in shares of Toast during the 2nd quarter valued at about $26,000. LRI Investments LLC bought a new stake in shares of Toast during the 1st quarter worth $27,000. Toth Financial Advisory Corp acquired a new position in Toast in the 3rd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Toast in the 2nd quarter worth $33,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Toast during the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 1,127 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $27,048.00. Following the sale, the president now directly owns 2,849,709 shares of the company’s stock, valued at approximately $68,393,016. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Toast news, CEO Aman Narang sold 1,856 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $44,544.00. Following the sale, the chief executive officer now directly owns 1,132,708 shares of the company’s stock, valued at approximately $27,184,992. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Stephen Fredette sold 1,127 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $27,048.00. Following the sale, the president now directly owns 2,849,709 shares in the company, valued at $68,393,016. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,387,269 shares of company stock valued at $38,394,140. 13.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on TOST. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $21.00 to $33.00 in a research note on Thursday, July 18th. Morgan Stanley upped their price target on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their target price on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Bank of America increased their price target on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Finally, Robert W. Baird upped their price objective on shares of Toast from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Toast has a consensus rating of “Moderate Buy” and an average price target of $28.94.

Toast Stock Down 1.8 %

NYSE TOST opened at $29.49 on Friday. The stock has a market cap of $13.36 billion, a P/E ratio of -58.98 and a beta of 1.76. The company’s 50-day simple moving average is $26.75 and its 200 day simple moving average is $25.38. Toast, Inc. has a twelve month low of $13.77 and a twelve month high of $30.70.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. Research analysts anticipate that Toast, Inc. will post -0.1 earnings per share 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.