The Manufacturers Life Insurance Company Grows Stock Holdings in Toast, Inc. (NYSE:TOST)

The Manufacturers Life Insurance Company increased its stake in shares of Toast, Inc. (NYSE:TOST) by 9.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 97,883 shares of the company’s stock after buying an additional 8,186 shares during the period. The Manufacturers Life Insurance Company’s holdings in Toast were worth $2,522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in TOST. Bridgefront Capital LLC purchased a new stake in shares of Toast in the fourth quarter valued at about $463,000. Berylson Capital Partners LLC lifted its holdings in shares of Toast by 86.0% in the fourth quarter. Berylson Capital Partners LLC now owns 209,600 shares of the company’s stock valued at $3,827,000 after purchasing an additional 96,900 shares in the last quarter. Granahan Investment Management LLC lifted its holdings in shares of Toast by 15.1% in the fourth quarter. Granahan Investment Management LLC now owns 3,898,193 shares of the company’s stock valued at $71,181,000 after purchasing an additional 510,358 shares in the last quarter. Gillson Capital LP purchased a new stake in shares of Toast in the fourth quarter valued at about $5,508,000. Finally, Flight Deck Capital LP lifted its holdings in shares of Toast by 21.1% in the fourth quarter. Flight Deck Capital LP now owns 543,774 shares of the company’s stock valued at $9,929,000 after purchasing an additional 94,900 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on TOST. Bank of America upped 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. The Goldman Sachs Group reissued a “buy” rating and set a $29.00 price objective on shares of Toast in a research note on Thursday, September 12th. Needham & Company LLC reissued a “buy” rating and set a $30.00 price objective on shares of Toast in a research note on Wednesday, August 7th. Morgan Stanley upped their price objective on shares of Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $21.00 to $33.00 in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Toast has a consensus rating of “Moderate Buy” and an average price target of $28.33.

Toast Trading Up 0.6 %

TOST opened at $28.98 on Thursday. The company has a fifty day simple moving average of $25.55 and a 200 day simple moving average of $24.93. The firm has a market cap of $13.36 billion, a price-to-earnings ratio of -57.95 and a beta of 1.76. Toast, Inc. has a twelve month low of $13.77 and a twelve month high of $29.92.

Toast (NYSE:TOST) last released its quarterly 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 during the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The business’s revenue was up 27.0% on a year-over-year basis. During the same period last year, the business earned ($0.19) EPS. On average, analysts forecast that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Insider Activity at Toast

In related news, President Stephen Fredette sold 1,127 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $27,048.00. Following the completion of the sale, the president now directly owns 2,849,709 shares of the company’s stock, valued at approximately $68,393,016. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Toast news, President Stephen Fredette sold 1,127 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $27,048.00. Following the completion of the transaction, the president now directly owns 2,849,709 shares of the company’s stock, valued at $68,393,016. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Michael Matlock sold 9,173 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $220,152.00. Following the transaction, the insider now directly owns 55,548 shares of the company’s stock, valued at approximately $1,333,152. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 990,794 shares of company stock valued at $25,771,991. Corporate insiders own 13.32% of the company’s stock.

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.