Royal Fund Management LLC Makes New $404,000 Investment in Toast, Inc. (NYSE:TOST)

Royal Fund Management LLC purchased a new stake in shares of Toast, Inc. (NYSE:TOST) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 22,100 shares of the company’s stock, valued at approximately $404,000.

Several other institutional investors have also made changes to their positions in TOST. Morgan Stanley lifted its holdings in shares of Toast by 149.3% during the 3rd quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock valued at $224,896,000 after buying an additional 7,191,595 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Toast by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock valued at $657,032,000 after acquiring an additional 3,494,579 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Toast by 69.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,600,377 shares of the company’s stock valued at $120,523,000 after acquiring an additional 2,708,597 shares in the last quarter. Eventide Asset Management LLC raised its stake in shares of Toast by 82.4% in the 3rd quarter. Eventide Asset Management LLC now owns 2,926,074 shares of the company’s stock valued at $54,805,000 after acquiring an additional 1,322,208 shares in the last quarter. Finally, ARK Investment Management LLC raised its stake in shares of Toast by 101.5% in the 4th quarter. ARK Investment Management LLC now owns 2,345,520 shares of the company’s stock valued at $42,829,000 after acquiring an additional 1,181,409 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Evercore ISI assumed coverage on Toast in a research note on Monday, March 4th. They issued an “outperform” rating and a $32.00 price objective on the stock. Wells Fargo & Company lifted their price target on Toast from $15.00 to $17.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 price target on shares of Toast in a research report on Thursday, April 11th. Robert W. Baird lifted 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, Keefe, Bruyette & Woods initiated coverage on Toast in a research report on Tuesday, April 9th. They issued a “market perform” rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.32.

Insider Activity at Toast

In other Toast news, CEO Aman Narang sold 2,471 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $26,078,223.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider James Michael Matlock sold 4,151 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $18.20, for a total transaction of $75,548.20. Following the completion of the sale, the insider now owns 39,733 shares in the company, valued at $723,140.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Aman Narang sold 2,471 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $57,821.40. Following the sale, the chief executive officer now owns 1,114,454 shares of the company’s stock, valued at approximately $26,078,223.60. The disclosure for this sale can be found here. Insiders have sold a total of 180,510 shares of company stock valued at $4,361,171 in the last 90 days. 13.70% of the stock is owned by corporate insiders.

Toast Trading Down 2.7 %

TOST stock traded down $0.64 during trading on Friday, hitting $22.74. The company had a trading volume of 6,340,950 shares, compared to its average volume of 5,555,809. The company has a fifty day moving average price of $23.55 and a two-hundred day moving average price of $19.42. The company has a market cap of $10.26 billion, a P/E ratio of -44.57 and a beta of 1.77. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $27.00.

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

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.