MBB Public Markets I LLC Purchases Shares of 24,800 Toast, Inc. (NYSE:TOST)

MBB Public Markets I LLC acquired a new stake in Toast, Inc. (NYSE:TOST) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 24,800 shares of the company’s stock, valued at approximately $639,000.

Several other hedge funds and other institutional investors have also modified their holdings of TOST. Dark Forest Capital Management LP acquired a new stake in shares of Toast during the 2nd quarter worth approximately $447,000. APG Asset Management N.V. grew its stake in shares of Toast by 187.6% during the second quarter. APG Asset Management N.V. now owns 48,139 shares of the company’s stock valued at $1,157,000 after purchasing an additional 31,400 shares during the last quarter. Armistice Capital LLC increased its holdings in shares of Toast by 45.8% in the second quarter. Armistice Capital LLC now owns 1,362,569 shares of the company’s stock valued at $35,113,000 after purchasing an additional 427,882 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Toast by 5.3% in the second quarter. Toronto Dominion Bank now owns 34,201 shares of the company’s stock valued at $881,000 after acquiring an additional 1,735 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Toast by 65.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 67,001 shares of the company’s stock valued at $1,727,000 after purchasing an additional 26,436 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 181,304 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $28.56, for a total value of $5,178,042.24. Following the completion of the sale, the president now directly owns 1,897,378 shares in the company, valued at approximately $54,189,115.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Toast news, President Stephen Fredette sold 181,304 shares of Toast stock in a transaction on Friday, September 27th. The shares were sold at an average price of $28.56, for a total value of $5,178,042.24. Following the completion of the transaction, the president now directly owns 1,897,378 shares of the company’s stock, valued at approximately $54,189,115.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $25.55, for a total value of $2,555,000.00. Following the transaction, the executive now directly owns 31,919 shares in the company, valued at approximately $815,530.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 955,019 shares of company stock worth $24,770,520. Company insiders own 13.32% of the company’s stock.

Analyst Upgrades and Downgrades

TOST has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $29.00 price objective on shares of Toast in a research note on Thursday, September 12th. Wedbush upgraded Toast to a “strong-buy” rating in a report on Friday, September 6th. Morgan Stanley raised their target price on shares of Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Bank of America lifted their target price on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Toast currently has an average rating of “Moderate Buy” and a consensus target price of $28.33.

Toast Trading Up 0.9 %

Shares of NYSE TOST opened at $28.57 on Wednesday. The stock’s 50-day moving average is $25.19 and its 200 day moving average is $24.71. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $29.92. The stock has a market cap of $13.17 billion, a price-to-earnings ratio of -57.13 and a beta of 1.75.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the business posted ($0.19) EPS. The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. On average, analysts forecast that Toast, Inc. will post -0.1 EPS for the current fiscal year.

About Toast

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.