Montis Financial LLC Acquires New Position in Toast, Inc. (NYSE:TOST)

Montis Financial LLC purchased a new stake in Toast, Inc. (NYSE:TOST) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 15,416 shares of the company’s stock, valued at approximately $281,000.

Other hedge funds have also modified their holdings of the company. Morgan Stanley boosted its stake in shares of Toast by 149.3% in the third quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock valued at $224,896,000 after purchasing an additional 7,191,595 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Toast by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock worth $657,032,000 after purchasing an additional 3,494,579 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Toast by 69.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,600,377 shares of the company’s stock worth $120,523,000 after buying an additional 2,708,597 shares during the period. Eventide Asset Management LLC lifted its stake in Toast by 82.4% in the third quarter. Eventide Asset Management LLC now owns 2,926,074 shares of the company’s stock valued at $54,805,000 after buying an additional 1,322,208 shares during the last quarter. Finally, ARK Investment Management LLC lifted its position in Toast by 101.5% in the 4th quarter. ARK Investment Management LLC now owns 2,345,520 shares of the company’s stock valued at $42,829,000 after purchasing an additional 1,181,409 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Toast Stock Performance

Shares of TOST stock traded up $0.38 during trading hours on Thursday, hitting $23.38. The company had a trading volume of 6,302,483 shares, compared to its average volume of 7,977,586. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of -44.71 and a beta of 1.76. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $27.00. The firm’s fifty day moving average is $23.47 and its 200 day moving average is $19.36.

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

Insider Buying and Selling at Toast

In related news, CRO Jonathan Vassil sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total value of $2,524,000.00. Following the transaction, the executive now directly owns 22,956 shares in the company, valued at $579,409.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Aman Narang sold 2,471 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 value 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 approximately $26,078,223.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total value of $2,524,000.00. Following the completion of the sale, the executive now owns 22,956 shares in the company, valued at $579,409.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 189,586 shares of company stock worth $4,531,074. 13.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Robert W. Baird raised their target price on Toast from $24.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. BNP Paribas upgraded Toast from a “neutral” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Thursday, March 7th. Piper Sandler lifted their target price on shares of Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. UBS Group increased their price objective on Toast from $22.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, The Goldman Sachs Group boosted their target price on Toast from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Toast presently has a consensus rating of “Hold” and a consensus price target of $24.32.

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.