Rakuten Securities Inc. Invests $150,000 in Toast, Inc. (NYSE:TOST)

Rakuten Securities Inc. purchased a new position in Toast, Inc. (NYSE:TOST) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,219 shares of the company’s stock, valued at approximately $150,000.

Several other hedge funds have also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Toast by 4.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,210 shares of the company’s stock worth $1,081,000 after purchasing an additional 2,577 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Toast by 69.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,600,377 shares of the company’s stock worth $120,523,000 after purchasing an additional 2,708,597 shares during the period. Lecap Asset Management Ltd. purchased a new stake in shares of Toast in the 4th quarter worth approximately $965,000. Mn Services Vermogensbeheer B.V. lifted its position in shares of Toast by 1.4% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 147,800 shares of the company’s stock worth $2,699,000 after purchasing an additional 2,000 shares during the period. Finally, Baystate Wealth Management LLC raised its stake in shares of Toast by 58.2% during the 4th quarter. Baystate Wealth Management LLC now owns 2,435 shares of the company’s stock worth $44,000 after acquiring an additional 896 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Trading Up 1.4 %

Shares of Toast stock opened at $22.76 on Thursday. The firm’s 50 day simple moving average is $22.96 and its two-hundred day simple moving average is $18.99. Toast, Inc. has a 12-month low of $13.77 and a 12-month high of $27.00. The firm has a market capitalization of $9.95 billion, a price-to-earnings ratio of -44.63 and a beta of 1.79.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Toast from $15.00 to $17.00 and gave the stock an “underweight” rating in a research note on Friday, April 12th. UBS Group boosted their price objective on shares of Toast from $22.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Royal Bank of Canada reiterated a “sector perform” rating and set a $23.00 price objective on shares of Toast in a research note on Thursday, April 11th. Evercore ISI assumed coverage on shares of Toast in a research note on Monday, March 4th. They set an “outperform” rating and a $32.00 price objective for the company. Finally, Robert W. Baird boosted their price objective on shares of Toast from $24.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.32.

Insider Buying and Selling

In related news, CEO Aman Narang sold 2,471 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $57,821.40. Following the sale, the chief executive officer now directly owns 1,114,454 shares of the company’s stock, valued at $26,078,223.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Toast news, CRO Jonathan Vassil sold 50,000 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the transaction, the executive now directly owns 25,422 shares of the company’s stock, valued at $582,163.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Aman Narang sold 2,471 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $57,821.40. Following the transaction, the chief executive officer now directly owns 1,114,454 shares in the company, valued at $26,078,223.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 414,486 shares of company stock valued at $8,662,487. Corporate insiders own 13.70% of the company’s stock.

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.