Commerce Bank Acquires New Position in Toast, Inc. (NYSE:TOST)

Commerce Bank bought a new position in Toast, Inc. (NYSE:TOST - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 858,840 shares of the company's stock, valued at approximately $31,305,000. Commerce Bank owned about 0.18% of Toast at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Toast by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock valued at $107,108,000 after buying an additional 155,446 shares in the last quarter. Jupiter Asset Management Ltd. grew its position in shares of Toast by 134.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company's stock valued at $14,319,000 after purchasing an additional 225,215 shares in the last quarter. New York Life Investment Management LLC bought a new stake in shares of Toast during the 4th quarter valued at $1,572,000. Forsta AP Fonden lifted its holdings in Toast by 191.4% during the 4th quarter. Forsta AP Fonden now owns 234,300 shares of the company's stock worth $8,540,000 after purchasing an additional 153,900 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Toast by 129,058.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company's stock worth $75,466,000 after purchasing an additional 2,072,680 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Toast Trading Up 3.2 %

TOST stock traded up $1.12 during midday trading on Thursday, hitting $36.01. The company had a trading volume of 2,999,713 shares, compared to its average volume of 6,593,671. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $44.12. The stock's 50 day moving average price is $35.06 and its 200 day moving average price is $36.21. The stock has a market cap of $17.79 billion, a price-to-earnings ratio of -3,597.10, a PEG ratio of 2.16 and a beta of 2.00.

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

Insider Buying and Selling

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the transaction, the general counsel now owns 209,206 shares in the company, valued at approximately $8,290,833.78. This represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction 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 $6,360,535.74. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 340,770 shares of company stock valued at $11,803,911 over the last quarter. 13.32% of the stock is owned by company insiders.

Analyst Ratings Changes

TOST has been the topic of several analyst reports. Oppenheimer began coverage on Toast in a research report on Friday, January 24th. They set an "outperform" rating and a $46.00 price target on the stock. JPMorgan Chase & Co. upped their target price on shares of Toast from $36.00 to $42.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. The Goldman Sachs Group cut their price target on shares of Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. UBS Group upped their price target on shares of Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods increased their price objective on Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a research report on Thursday, February 20th. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Toast presently has a consensus rating of "Hold" and a consensus target price of $40.26.

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.