Pinnacle Associates Ltd. Has $446,000 Holdings in Toast, Inc. (NYSE:TOST)

Pinnacle Associates Ltd. raised its position in Toast, Inc. (NYSE:TOST) by 37.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 15,750 shares of the company’s stock after purchasing an additional 4,300 shares during the period. Pinnacle Associates Ltd.’s holdings in Toast were worth $446,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Capital International Investors boosted its position in Toast by 12.2% during the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after acquiring an additional 3,574,397 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Toast by 21.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock valued at $486,557,000 after purchasing an additional 3,445,788 shares in the last quarter. Champlain Investment Partners LLC grew its stake in Toast by 9.1% during the first quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock worth $248,611,000 after purchasing an additional 833,390 shares during the period. Whale Rock Capital Management LLC bought a new stake in Toast in the first quarter worth approximately $179,111,000. Finally, Meritage Group LP lifted its stake in Toast by 37.3% in the first quarter. Meritage Group LP now owns 5,284,811 shares of the company’s stock valued at $131,697,000 after buying an additional 1,436,494 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Price Performance

Shares of Toast stock opened at $30.98 on Monday. The firm has a market cap of $14.28 billion, a PE ratio of -106.83 and a beta of 1.74. Toast, Inc. has a 1 year low of $13.77 and a 1 year high of $31.57. The stock has a fifty day moving average price of $27.37 and a 200-day moving average price of $25.65.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. As a group, equities analysts anticipate that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 211,686 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the sale, the president now directly owns 2,638,023 shares in the company, valued at $62,178,202.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Christopher P. Comparato sold 100,000 shares of Toast stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $24.35, for a total value of $2,435,000.00. Following the completion of the transaction, the director now directly owns 120,107 shares in the company, valued at approximately $2,924,605.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Fredette sold 211,686 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the sale, the president now owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,370,721 shares of company stock worth $37,996,988. Insiders own 13.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TOST. Stephens lifted their price objective on shares of Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. DA Davidson upped their price objective on shares of Toast from $32.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. The Goldman Sachs Group raised their target price on Toast from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target on shares of Toast in a report on Wednesday, August 7th. Finally, Wedbush upgraded Toast to a “strong-buy” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.26.

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.