Truist Financial Corp Buys Shares of 26,742 Toast, Inc. (NYSE:TOST)

Truist Financial Corp bought a new stake in shares of Toast, Inc. (NYSE:TOST – Get Rating) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 26,742 shares of the company’s stock, valued at approximately $448,000.

A number of other hedge funds have also added to or reduced their stakes in TOST. Raymond James & Associates grew its holdings in Toast by 115.4% during the 1st quarter. Raymond James & Associates now owns 24,946 shares of the company’s stock valued at $542,000 after buying an additional 13,364 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Toast by 78.2% during the 1st quarter. HighTower Advisors LLC now owns 28,356 shares of the company’s stock valued at $616,000 after acquiring an additional 12,446 shares during the last quarter. Citigroup Inc. bought a new stake in shares of Toast during the 1st quarter valued at about $438,000. Ergoteles LLC bought a new stake in shares of Toast during the 1st quarter valued at about $2,427,000. Finally, First Trust Advisors LP bought a new stake in shares of Toast during the 1st quarter valued at about $33,356,000. Hedge funds and other institutional investors own 50.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TOST. Needham & Company LLC lifted their price target on Toast from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, November 11th. Wolfe Research began coverage on Toast in a research report on Tuesday, November 29th. They set a “peer perform” rating and a $18.00 price target for the company. Robert W. Baird boosted their target price on Toast from $25.00 to $26.00 in a research report on Friday, November 11th. The Goldman Sachs Group dropped their target price on Toast from $23.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, January 9th. Finally, Morgan Stanley boosted their target price on Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, November 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Toast has an average rating of “Hold” and an average price target of $23.63.

Insider Activity

In other news, CFO Elena Gomez sold 2,024 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $21.18, for a total transaction of $42,868.32. Following the transaction, the chief financial officer now directly owns 87,034 shares of the company’s stock, valued at $1,843,380.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Aman Narang sold 583,091 shares of the company’s stock in a transaction on Wednesday, December 28th. The stock was sold at an average price of $16.93, for a total value of $9,871,730.63. Following the sale, the chief operating officer now directly owns 16,909 shares of the company’s stock, valued at $286,269.37. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Elena Gomez sold 2,024 shares of the company’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $21.18, for a total value of $42,868.32. Following the completion of the sale, the chief financial officer now directly owns 87,034 shares in the company, valued at $1,843,380.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,356,016 shares of company stock valued at $169,711,840. Company insiders own 20.16% of the company’s stock.

Toast Stock Performance

Shares of TOST stock opened at $22.34 on Tuesday. Toast, Inc. has a fifty-two week low of $11.91 and a fifty-two week high of $30.60. The stock has a 50 day moving average price of $18.53 and a two-hundred day moving average price of $18.30. The company has a market capitalization of $11.44 billion, a P/E ratio of -30.60 and a beta of 1.58.

Toast (NYSE:TOST – Get Rating) last announced its quarterly earnings data on Thursday, November 10th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.03. Toast had a negative return on equity of 25.85% and a negative net margin of 6.99%. The firm had revenue of $752.00 million during the quarter, compared to the consensus estimate of $714.61 million. As a group, equities analysts predict that Toast, Inc. will post -0.52 earnings per share for the current year.

Toast Company Profile

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Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.