New York Life Investment Management LLC Invests $1.57 Million in Toast, Inc. (NYSE:TOST)

New York Life Investment Management LLC acquired a new position in Toast, Inc. (NYSE:TOST) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 43,136 shares of the company’s stock, valued at approximately $1,572,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its position in Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after purchasing an additional 378 shares during the last quarter. Piscataqua Savings Bank purchased a new stake in Toast during the 4th quarter worth approximately $26,000. Stonebridge Financial Group LLC purchased a new stake in Toast during the 4th quarter worth approximately $34,000. Wingate Wealth Advisors Inc. purchased a new stake in Toast during the 4th quarter worth approximately $40,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Toast during the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insiders Place Their Bets

In other news, President Stephen Fredette sold 1,068 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the completion of the sale, the president now owns 1,644,656 shares of the company’s stock, valued at $65,177,717.28. This represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the sale, the general counsel now directly owns 209,206 shares of the company’s stock, valued at $8,290,833.78. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 149,779 shares of company stock worth $5,415,192. Company insiders own 13.32% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on TOST. The Goldman Sachs Group set a $40.00 target price on shares of Toast and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. DA Davidson reissued a “neutral” rating and set a $38.00 target price (down previously from $44.00) on shares of Toast in a research report on Thursday, December 5th. Piper Sandler lifted their price objective on shares of Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Royal Bank of Canada lifted their price objective on shares of Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Finally, Canaccord Genuity Group lifted their price objective on shares of Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.09.

Toast Stock Performance

NYSE:TOST opened at $36.86 on Tuesday. The company has a fifty day moving average of $38.61 and a two-hundred day moving average of $34.05. The stock has a market capitalization of $18.21 billion, a PE ratio of -3,682.32, a P/E/G ratio of 2.16 and a beta of 1.98. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12.

Toast (NYSE:TOST) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. Research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

About Toast

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.