International Assets Investment Management LLC Buys 53,846 Shares of Toast, Inc. (NYSE:TOST)

International Assets Investment Management LLC boosted its position in shares of Toast, Inc. (NYSE:TOST) by 1,542.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,336 shares of the company’s stock after purchasing an additional 53,846 shares during the quarter. International Assets Investment Management LLC’s holdings in Toast were worth $1,047,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TOST. Sei Investments Co. raised its position in shares of Toast by 105.0% during the third quarter. Sei Investments Co. now owns 691,018 shares of the company’s stock worth $12,943,000 after purchasing an additional 353,903 shares during the period. Vanguard Group Inc. increased its stake in Toast by 11.1% during the 3rd quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock worth $657,032,000 after purchasing an additional 3,494,579 shares in the last quarter. ARK Investment Management LLC raised its holdings in Toast by 101.5% during the 4th quarter. ARK Investment Management LLC now owns 2,345,520 shares of the company’s stock worth $42,829,000 after buying an additional 1,181,409 shares during the period. Hudson Bay Capital Management LP bought a new position in Toast in the third quarter valued at approximately $936,000. Finally, SG Americas Securities LLC acquired a new position in shares of Toast in the third quarter valued at approximately $2,040,000. Institutional investors own 82.91% of the company’s stock.

Insiders Place Their Bets

In related news, President Stephen Fredette sold 2,272 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $53,164.80. Following the sale, the president now owns 2,835,759 shares of the company’s stock, valued at $66,356,760.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Toast news, CEO Aman Narang sold 2,471 shares of Toast stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $57,821.40. Following the transaction, the chief executive officer now owns 1,114,454 shares in the company, valued at $26,078,223.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Stephen Fredette sold 2,272 shares of Toast stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $53,164.80. Following the sale, the president now directly owns 2,835,759 shares in the company, valued at $66,356,760.60. The disclosure for this sale can be found here. Insiders have sold 414,486 shares of company stock worth $8,662,487 in the last 90 days. Company insiders own 13.70% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on TOST. Piper Sandler boosted their price objective on shares of Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Keefe, Bruyette & Woods initiated coverage on Toast in a research report on Tuesday, April 9th. They set a “market perform” rating and a $25.00 price objective for the company. Wells Fargo & Company lifted their target price on Toast from $15.00 to $17.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Robert W. Baird upped their price target on Toast from $24.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Finally, Evercore ISI began coverage on shares of Toast in a report on Monday, March 4th. They issued an “outperform” rating and a $32.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $24.32.

Toast Stock Performance

Toast stock opened at $22.14 on Tuesday. The stock has a 50-day simple moving average of $23.07 and a 200 day simple moving average of $19.05. The stock has a market capitalization of $9.68 billion, a P/E ratio of -43.41 and a beta of 1.79. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $27.00.

Toast (NYSE:TOST) last posted its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the firm earned ($0.19) EPS. The firm’s revenue was up 34.7% compared to the same quarter last year. Research analysts forecast that Toast, Inc. will post -0.22 earnings per share for the current 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.