Syon Capital LLC Purchases New Position in Toast, Inc. (NYSE:TOST)

Syon Capital LLC purchased a new stake in shares of Toast, Inc. (NYSE:TOST) in the fourth quarter, Holdings Channel.com reports. The firm purchased 20,631 shares of the company’s stock, valued at approximately $377,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Toast by 11.1% during the third quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock valued at $657,032,000 after buying an additional 3,494,579 shares during the last quarter. Morgan Stanley grew its stake in shares of Toast by 149.3% in the 3rd quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock worth $224,896,000 after acquiring an additional 7,191,595 shares in the last quarter. Abdiel Capital Advisors LP raised its holdings in shares of Toast by 0.8% in the third quarter. Abdiel Capital Advisors LP now owns 10,876,373 shares of the company’s stock valued at $203,714,000 after purchasing an additional 86,536 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Toast by 69.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,600,377 shares of the company’s stock valued at $120,523,000 after purchasing an additional 2,708,597 shares in the last quarter. Finally, Eventide Asset Management LLC boosted its holdings in Toast by 82.4% during the third quarter. Eventide Asset Management LLC now owns 2,926,074 shares of the company’s stock worth $54,805,000 after purchasing an additional 1,322,208 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 224,900 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $18.37, for a total transaction of $4,131,413.00. Following the sale, the general counsel now owns 160,340 shares of the company’s stock, valued at approximately $2,945,445.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider James Michael Matlock sold 1,205 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $28,197.00. Following the completion of the transaction, the insider now directly owns 40,954 shares in the company, valued at approximately $958,323.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Brian R. Elworthy sold 224,900 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $18.37, for a total transaction of $4,131,413.00. Following the completion of the transaction, the general counsel now directly owns 160,340 shares in the company, valued at approximately $2,945,445.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 414,486 shares of company stock worth $8,662,487. 13.70% of the stock is owned by corporate insiders.

Toast Stock Up 3.4 %

TOST opened at $23.91 on Friday. The firm has a 50-day moving average price of $23.36 and a 200-day moving average price of $19.23. Toast, Inc. has a twelve month low of $13.77 and a twelve month high of $27.00. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of -46.88 and a beta of 1.79.

Toast (NYSE:TOST) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. Toast’s revenue was up 34.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.19) EPS. On average, sell-side analysts expect that Toast, Inc. will post -0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Mizuho reiterated a “neutral” rating and issued a $17.00 price objective on shares of Toast in a research note on Wednesday, March 27th. Evercore ISI assumed coverage on Toast in a research report on Monday, March 4th. They set an “outperform” rating and a $32.00 price target for the company. Robert W. Baird boosted their price objective on Toast from $24.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Piper Sandler raised their target price on Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Toast in a report on Tuesday, April 9th. They issued a “market perform” rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.32.

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.