PNC Financial Services Group Inc. Acquires 3,742 Shares of Toast, Inc. (NYSE:TOST)

PNC Financial Services Group Inc. grew its holdings in Toast, Inc. (NYSE:TOST) by 115.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,988 shares of the company’s stock after acquiring an additional 3,742 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Toast were worth $255,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in shares of Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after acquiring an additional 378 shares in the last quarter. Piscataqua Savings Bank bought a new position in shares of Toast during the fourth quarter worth about $26,000. Stonebridge Financial Group LLC bought a new position in shares of Toast during the fourth quarter worth about $34,000. SBI Securities Co. Ltd. bought a new position in shares of Toast during the fourth quarter worth about $35,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Toast during the fourth quarter worth about $40,000. 82.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Oppenheimer assumed coverage on Toast in a report on Friday, January 24th. They set an “outperform” rating and a $46.00 price objective for the company. Canaccord Genuity Group increased their price objective on Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. The Goldman Sachs Group set a $40.00 price objective on Toast and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Wells Fargo & Company increased their price objective on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Finally, BNP Paribas set a $37.00 price target on Toast and gave the company a “neutral” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.48.

Insiders Place Their Bets

In other news, CFO Elena Gomez sold 2,052 shares of Toast stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $81,320.76. Following the transaction, the chief financial officer now owns 160,498 shares in the company, valued at approximately $6,360,535.74. This trade represents a 1.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the completion of the transaction, the president now owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 270,770 shares of company stock worth $9,409,211 in the last 90 days. Company insiders own 13.32% of the company’s stock.

Toast Price Performance

Toast stock opened at $35.20 on Friday. The stock’s fifty day moving average price is $37.82 and its two-hundred day moving average price is $35.07. Toast, Inc. has a one year low of $21.32 and a one year high of $44.12. The firm has a market cap of $17.39 billion, a PE ratio of -3,516.78, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.32 billion. Sell-side analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Toast Company 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.