Penn Davis Mcfarland Inc. Makes New Investment in Toast, Inc. (NYSE:TOST)

Penn Davis Mcfarland Inc. purchased a new stake in Toast, Inc. (NYSE:TOST) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 7,500 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TOST. Susquehanna Fundamental Investments LLC acquired a new position in shares of Toast during the 1st quarter valued at about $5,078,000. WoodTrust Financial Corp acquired a new stake in Toast during the first quarter worth about $754,000. QRG Capital Management Inc. boosted its holdings in Toast by 39.7% in the 2nd quarter. QRG Capital Management Inc. now owns 84,967 shares of the company’s stock valued at $2,190,000 after purchasing an additional 24,164 shares during the last quarter. Epoch Investment Partners Inc. acquired a new position in Toast in the 1st quarter valued at about $633,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Toast by 4.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,880,795 shares of the company’s stock valued at $171,469,000 after buying an additional 280,418 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Toast

In related news, President Stephen Fredette sold 1,127 shares of the business’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 owns 2,849,709 shares in the company, valued at approximately $68,393,016. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Toast news, Director Christopher P. Comparato sold 125,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $29.21, for a total transaction of $3,651,250.00. Following the sale, the director now owns 134,627 shares of the company’s stock, valued at approximately $3,932,454.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Stephen Fredette sold 1,127 shares of the business’s stock in a transaction that occurred on 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 owns 2,849,709 shares of the company’s stock, valued at $68,393,016. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,006,021 shares of company stock valued at $26,808,638. Insiders own 13.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on TOST. Morgan Stanley lifted their price target on shares of Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Stephens upped their price target on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and set a $30.00 price target on shares of Toast in a report on Wednesday, August 7th. Wedbush upgraded shares of Toast to a “strong-buy” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Toast currently has an average rating of “Moderate Buy” and a consensus price target of $28.78.

Toast Price Performance

Shares of NYSE TOST opened at $30.32 on Monday. The company has a market cap of $13.98 billion, a price-to-earnings ratio of -104.55 and a beta of 1.76. The stock’s 50-day moving average is $26.26 and its two-hundred day moving average is $25.18. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $30.70.

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

Toast 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.