Permanent Capital Management LP Purchases New Shares in Toast, Inc. (NYSE:TOST)

Permanent Capital Management LP acquired a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 98,164 shares of the company's stock, valued at approximately $3,578,000. Toast accounts for about 1.1% of Permanent Capital Management LP's holdings, making the stock its 13th biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company's stock worth $25,000 after purchasing an additional 378 shares during the last quarter. Piscataqua Savings Bank purchased a new position in shares of Toast during the fourth quarter worth approximately $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Toast during the fourth quarter valued at approximately $34,000. SBI Securities Co. Ltd. bought a new position in Toast in the fourth quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Toast during the 4th quarter worth $40,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price on Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a report on Thursday, February 20th. UBS Group increased their target price on shares of Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. BNP Paribas set a $37.00 price target on shares of Toast and gave the company a "neutral" rating in a report on Wednesday, February 19th. Canaccord Genuity Group increased their price objective on shares of Toast from $43.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, BMO Capital Markets boosted their price objective on shares of Toast from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. One 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $40.48.

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Insider Buying and Selling

In other news, CFO Elena Gomez sold 2,052 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $81,320.76. Following the sale, the chief financial officer now owns 160,498 shares in the company, valued at $6,360,535.74. This represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher P. Comparato sold 145,000 shares of Toast stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $36.04, for a total value of $5,225,800.00. Following the transaction, the director now owns 182,451 shares of the company's stock, valued at approximately $6,575,534.04. This represents a 44.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,119 shares of company stock worth $7,797,608. 13.32% of the stock is owned by company insiders.

Toast Trading Up 3.7 %

Shares of NYSE:TOST traded up $1.22 on Wednesday, hitting $34.67. 5,192,068 shares of the company were exchanged, compared to its average volume of 6,656,168. The stock's 50 day moving average price is $38.23 and its 200 day moving average price is $34.57. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $44.12. The firm has a market capitalization of $17.13 billion, a P/E ratio of -3,463.74, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. On average, equities analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal year.

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.