Catalyst Funds Management Pty Ltd Makes New Investment in Toast, Inc. (NYSE:TOST)

Catalyst Funds Management Pty Ltd acquired a new stake in Toast, Inc. (NYSE:TOST) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,600 shares of the company’s stock, valued at approximately $313,000.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. increased its holdings in Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after buying an additional 378 shares during the last quarter. Piscataqua Savings Bank purchased a new position in shares of Toast in the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC purchased a new position in shares of Toast in the 4th quarter valued at about $34,000. SBI Securities Co. Ltd. acquired a new stake in shares of Toast during the 4th quarter worth about $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Toast in the fourth quarter valued at approximately $40,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Up 5.5 %

NYSE:TOST opened at $34.41 on Friday. The firm’s fifty day simple moving average is $38.05 and its 200-day simple moving average is $34.70. The stock has a market cap of $17.00 billion, a PE ratio of -3,437.06, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12.

Toast (NYSE:TOST) last issued its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Equities analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 1,068 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the completion of the transaction, the president now directly owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. This trade represents a 0.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Elena Gomez sold 2,052 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $81,320.76. Following the completion of the sale, the chief financial officer now directly owns 160,498 shares in the company, valued at $6,360,535.74. This trade represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,641 shares of company stock valued at $8,937,776 in the last ninety days. Corporate insiders own 13.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TOST shares. UBS Group raised their price objective on shares of Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Wells Fargo & Company lifted their price target on shares of Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Royal Bank of Canada upped their price objective on shares of Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. The Goldman Sachs Group set a $40.00 target price on Toast and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Canaccord Genuity Group raised their price target on Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $40.48.

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.