HM Payson & Co. Acquires 582 Shares of Toast, Inc. (NYSE:TOST)

HM Payson & Co. boosted its holdings in Toast, Inc. (NYSE:TOST) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,232 shares of the company’s stock after purchasing an additional 582 shares during the period. HM Payson & Co.’s holdings in Toast were worth $300,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TOST. ValueAct Holdings L.P. bought a new stake in Toast in the third quarter worth $438,301,000. FMR LLC lifted its stake in Toast by 50.5% in the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after purchasing an additional 8,205,053 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Toast by 129,058.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company’s stock worth $75,466,000 after purchasing an additional 2,072,680 shares during the last quarter. Perpetual Ltd bought a new stake in Toast in the fourth quarter worth $60,878,000. Finally, Worldquant Millennium Advisors LLC lifted its stake in Toast by 1,475.0% in the third quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company’s stock worth $24,091,000 after purchasing an additional 796,936 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Insider Transactions at Toast

In related news, General Counsel Brian R. Elworthy sold 653 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the transaction, the general counsel now directly owns 209,206 shares of the company’s stock, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Stephen Fredette sold 1,068 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the transaction, the president now directly owns 1,644,656 shares of the company’s stock, valued at $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 149,779 shares of company stock valued at $5,415,192 over the last three months. Corporate insiders own 13.32% of the company’s stock.

Toast Stock Performance

Shares of NYSE TOST opened at $34.77 on Monday. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The company has a market cap of $17.17 billion, a PE ratio of -3,473.03, a P/E/G ratio of 2.16 and a beta of 1.99. The firm’s 50 day moving average price is $38.36 and its 200-day moving average price is $34.36.

Toast (NYSE:TOST) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. On average, analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TOST has been the topic of a number of analyst reports. Canaccord Genuity Group boosted their price objective on shares of Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Toast in a research report on Thursday, February 20th. DA Davidson restated a “neutral” rating and issued a $38.00 price objective (down previously from $44.00) on shares of Toast in a research report on Thursday, December 5th. Wells Fargo & Company boosted their price objective on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Finally, Piper Sandler boosted their price target on shares of Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. One equities research 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $40.48.

Toast 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.