Truvestments Capital LLC Acquires New Shares in Toast, Inc. (NYSE:TOST)

Truvestments Capital LLC acquired a new stake in Toast, Inc. (NYSE:TOST) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,279 shares of the company’s stock, valued at approximately $65,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Makena Capital Management LLC raised its stake in Toast by 7.6% during the 3rd quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock valued at $7,768,000 after buying an additional 19,371 shares during the last quarter. KBC Group NV raised its stake in Toast by 66.5% during the 3rd quarter. KBC Group NV now owns 42,838 shares of the company’s stock valued at $1,213,000 after buying an additional 17,106 shares during the last quarter. Stephens Investment Management Group LLC raised its stake in Toast by 13.1% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company’s stock valued at $53,358,000 after buying an additional 218,959 shares during the last quarter. Entropy Technologies LP purchased a new stake in Toast during the 3rd quarter valued at $894,000. Finally, Quest Partners LLC purchased a new stake in Toast during the 3rd quarter valued at $1,391,000. 82.91% of the stock is owned by institutional investors.

Toast Trading Down 0.1 %

Shares of NYSE:TOST opened at $43.17 on Thursday. Toast, Inc. has a 12 month low of $14.00 and a 12 month high of $44.12. The company has a 50-day moving average price of $32.11 and a 200 day moving average price of $27.43. The company has a market cap of $20.33 billion, a price-to-earnings ratio of -332.08, a PEG ratio of 54.80 and a beta of 1.74.

Analyst Upgrades and Downgrades

TOST has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $30.00 target price on shares of Toast in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Royal Bank of Canada upped their price objective on Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Bank of America upped their price objective on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Finally, Wedbush upped their price objective on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $33.86.

Insider Activity at Toast

In related news, President Stephen Fredette sold 211,686 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the sale, the president now directly owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. This represents a 7.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David Yuan sold 189,785 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the completion of the sale, the director now directly owns 198,829 shares in the company, valued at $8,551,635.29. This trade represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,688,321 shares of company stock valued at $52,160,120. Insiders own 13.32% of the company’s stock.

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.