iA Global Asset Management Inc. Purchases 16,581 Shares of Toast, Inc. $TOST

iA Global Asset Management Inc. lifted its position in shares of Toast, Inc. (NYSE:TOST) by 94.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,092 shares of the company’s stock after acquiring an additional 16,581 shares during the quarter. iA Global Asset Management Inc.’s holdings in Toast were worth $1,245,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TOST. Quent Capital LLC bought a new stake in Toast during the 3rd quarter worth about $27,000. RiverPark Advisors LLC acquired a new stake in shares of Toast during the 2nd quarter worth approximately $30,000. Alpine Bank Wealth Management bought a new stake in shares of Toast during the third quarter worth approximately $30,000. Ameritas Advisory Services LLC acquired a new position in Toast in the second quarter valued at approximately $31,000. Finally, REAP Financial Group LLC boosted its stake in Toast by 173.3% in the second quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock valued at $35,000 after acquiring an additional 506 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Trading Down 1.3%

NYSE:TOST opened at $33.78 on Friday. Toast, Inc. has a 1 year low of $28.12 and a 1 year high of $49.66. The stock has a 50-day moving average price of $34.91 and a two-hundred day moving average price of $38.98. The stock has a market cap of $17.40 billion, a price-to-earnings ratio of 78.56 and a beta of 1.93.

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

Wall Street Analyst Weigh In

TOST has been the topic of a number of analyst reports. Oppenheimer cut their price target on Toast from $49.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, January 12th. Evercore ISI upgraded Toast from an “in-line” rating to an “outperform” rating and set a $40.00 price objective for the company in a report on Tuesday. Jefferies Financial Group cut their target price on Toast from $54.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Wells Fargo & Company upgraded Toast to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Royal Bank Of Canada set a $45.00 price target on Toast in a research note on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Toast has an average rating of “Moderate Buy” and an average price target of $45.82.

Insider Transactions at Toast

In related news, CRO Jonathan Vassil sold 66,390 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $35.86, for a total value of $2,380,745.40. Following the sale, the executive directly owned 84,589 shares of the company’s stock, valued at approximately $3,033,361.54. The trade was a 43.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Aman Narang sold 8,591 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $295,358.58. Following the completion of the transaction, the chief executive officer directly owned 338,850 shares of the company’s stock, valued at approximately $11,649,663. The trade was a 2.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 102,595 shares of company stock valued at $3,634,737. 12.14% of the stock is currently owned by insiders.

Toast Company Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.