Greenland Capital Management LP Acquires Shares of 131,057 Toast, Inc. $TOST

Greenland Capital Management LP purchased a new stake in shares of Toast, Inc. (NYSE:TOST) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 131,057 shares of the company’s stock, valued at approximately $5,805,000.

Other hedge funds have also recently bought and sold shares of the company. CWM LLC increased its position in shares of Toast by 76.2% during the first quarter. CWM LLC now owns 8,732 shares of the company’s stock valued at $290,000 after acquiring an additional 3,777 shares during the last quarter. Signaturefd LLC lifted its stake in Toast by 227.1% in the first quarter. Signaturefd LLC now owns 1,472 shares of the company’s stock valued at $49,000 after purchasing an additional 1,022 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Toast by 9.4% during the first quarter. Victory Capital Management Inc. now owns 130,046 shares of the company’s stock valued at $4,314,000 after purchasing an additional 11,207 shares during the period. Private Advisor Group LLC increased its holdings in Toast by 5.0% in the 1st quarter. Private Advisor Group LLC now owns 30,505 shares of the company’s stock worth $1,012,000 after acquiring an additional 1,466 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in Toast by 15.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 40,781 shares of the company’s stock worth $1,353,000 after acquiring an additional 5,477 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Toast

In other Toast news, CEO Aman Narang sold 1,732 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total value of $61,555.28. Following the completion of the sale, the chief executive officer directly owned 319,939 shares of the company’s stock, valued at $11,370,632.06. The trade was a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Stephen Fredette sold 1,732 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total value of $61,555.28. Following the transaction, the president directly owned 900,264 shares in the company, valued at $31,995,382.56. This trade represents a 0.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 62,259 shares of company stock worth $2,299,020. Corporate insiders own 12.14% of the company’s stock.

Toast Price Performance

TOST stock opened at $33.75 on Wednesday. The firm has a 50 day simple moving average of $37.52 and a two-hundred day simple moving average of $41.50. The stock has a market cap of $17.38 billion, a PE ratio of 78.50 and a beta of 1.94. Toast, Inc. has a one year low of $28.12 and a one year high of $49.66.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Toast had a net margin of 4.68% and a return on equity of 15.77%. The company’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. On average, research analysts expect that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on TOST. DA Davidson set a $42.00 target price on shares of Toast in a research report on Wednesday, November 5th. Robert W. Baird dropped their price target on shares of Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Canaccord Genuity Group boosted their target price on shares of Toast from $48.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Jefferies Financial Group cut their target price on Toast from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Toast has a consensus rating of “Moderate Buy” and a consensus price target of $45.45.

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.