Allstate Corp Takes Position in Toast, Inc. (NYSE:TOST)

Allstate Corp purchased a new stake in Toast, Inc. (NYSE:TOST - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,473 shares of the company's stock, valued at approximately $418,000.

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

Analyst Ratings Changes

Several analysts have commented on TOST shares. JPMorgan Chase & Co. lifted their target price on shares of Toast from $36.00 to $42.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Keefe, Bruyette & Woods lifted their price objective on Toast from $40.00 to $42.00 and gave the company a "market perform" rating in a research report on Thursday, February 20th. Canaccord Genuity Group increased their target price on Toast from $43.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. The Goldman Sachs Group lowered their price target on Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Finally, BMO Capital Markets increased their price objective on shares of Toast from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Toast currently has a consensus rating of "Hold" and a consensus price target of $40.38.

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Insider Activity

In other news, General Counsel Brian R. Elworthy sold 653 shares of the firm's stock in a transaction that occurred 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 sale, the general counsel now 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Jonathan Vassil sold 1,006 shares of Toast stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $39,867.78. Following the completion of the sale, the executive now owns 48,488 shares of the company's stock, valued at approximately $1,921,579.44. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,770 shares of company stock worth $9,409,211 over the last ninety days. Corporate insiders own 13.32% of the company's stock.

Toast Price Performance

Toast stock traded up $0.15 during midday trading on Monday, hitting $30.69. 11,958,883 shares of the company were exchanged, compared to its average volume of 6,790,424. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12. The company's fifty day moving average price is $37.01 and its 200-day moving average price is $35.82. The company has a market cap of $15.16 billion, a PE ratio of -3,065.43, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00.

Toast (NYSE:TOST - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a net margin of 0.40% and a return on equity of 1.54%. The firm had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.32 billion. On average, analysts expect 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.