Bank of Nova Scotia Makes New $8.58 Million Investment in Toast, Inc. (NYSE:TOST)

Bank of Nova Scotia bought a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 235,512 shares of the company's stock, valued at approximately $8,584,000. Bank of Nova Scotia owned 0.05% of Toast as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TOST. Blue Trust Inc. increased its stake 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 buying an additional 378 shares during the period. Piscataqua Savings Bank acquired a new stake in shares of Toast in the 4th quarter valued at $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of Toast during the 4th quarter worth $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of Toast during the 4th quarter worth $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Toast in the fourth quarter valued at $40,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TOST. Morgan Stanley upped their price objective on Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Oppenheimer assumed coverage on shares of Toast in a research report on Friday, January 24th. They set an "outperform" rating and a $46.00 price objective for the company. Robert W. Baird lifted their price target on shares of Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Keefe, Bruyette & Woods raised their price objective on Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. boosted their target price on Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $40.27.

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Insider Buying and Selling at Toast

In related news, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the completion of the transaction, the director now directly owns 164,796 shares in the company, valued at $5,884,865.16. The trade was a 29.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Elena Gomez sold 2,052 shares of the company'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 value of $81,320.76. Following the completion of the sale, the chief financial officer now directly owns 160,498 shares in the company, valued at approximately $6,360,535.74. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 270,770 shares of company stock valued at $9,409,211. Insiders own 13.32% of the company's stock.

Toast Trading Up 0.7 %

Shares of NYSE:TOST traded up $0.23 on Tuesday, reaching $34.85. 4,128,510 shares of the company were exchanged, compared to its average volume of 6,808,219. The company has a 50-day moving average of $35.97 and a 200-day moving average of $36.02. The firm has a market cap of $17.22 billion, a price-to-earnings ratio of -3,481.82, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $44.12.

Toast (NYSE:TOST - Get Free Report) last issued its earnings results 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 company had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. As a group, analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Toast Company 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.