Tower Research Capital LLC TRC Increases Holdings in Toast, Inc. (NYSE:TOST)

Tower Research Capital LLC TRC lifted its position in Toast, Inc. (NYSE:TOST) by 800.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,412 shares of the company’s stock after buying an additional 3,922 shares during the period. Tower Research Capital LLC TRC’s holdings in Toast were worth $161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its position in 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 during the period. Piscataqua Savings Bank bought a new position in Toast in the 4th quarter worth $26,000. Stonebridge Financial Group LLC purchased a new position in Toast during the fourth quarter valued at $34,000. SBI Securities Co. Ltd. bought a new stake in Toast during the fourth quarter valued at about $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Toast in the fourth quarter worth about $40,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 70,340 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $33.87, for a total value of $2,382,415.80. Following the completion of the sale, the president now directly owns 1,574,316 shares in the company, valued at approximately $53,322,082.92. This represents a 4.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deval L. Patrick sold 34,222 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $33.01, for a total value of $1,129,668.22. Following the transaction, the director now directly owns 13,260 shares in the company, valued at $437,712.60. The trade was a 72.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 335,991 shares of company stock valued at $11,614,520 over the last 90 days. Insiders own 13.32% of the company’s stock.

Analyst Upgrades and Downgrades

TOST has been the topic of a number of analyst reports. UBS Group lifted their price objective on Toast from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Toast in a report on Thursday, February 20th. Wells Fargo & Company raised shares of Toast from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $30.00 to $39.00 in a research note on Thursday, April 10th. Royal Bank of Canada lifted their target price on shares of Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Finally, Evercore ISI began coverage on Toast in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $29.00 price target for the company. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Toast currently has an average rating of “Hold” and a consensus price target of $40.35.

Toast Stock Performance

Shares of Toast stock opened at $35.18 on Wednesday. The stock has a market cap of $17.50 billion, a price-to-earnings ratio of -3,514.79, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. The stock has a 50 day moving average price of $34.51 and a 200-day moving average price of $36.69. Toast, Inc. has a one year low of $21.32 and a one year high of $44.12.

Toast (NYSE:TOST) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Toast had a net margin of 0.40% and a return on equity of 1.54%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Sell-side analysts predict 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.