Counterpoint Mutual Funds LLC Makes New Investment in Toast, Inc. (NYSE:TOST)

Counterpoint Mutual Funds LLC bought a new position in Toast, Inc. (NYSE:TOST - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 18,122 shares of the company's stock, valued at approximately $661,000.

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

Toast Price Performance

Shares of TOST stock traded down $0.68 during trading hours on Friday, reaching $35.20. 6,987,316 shares of the company traded hands, compared to its average volume of 6,500,788. The firm has a 50-day moving average price of $37.83 and a 200 day moving average price of $34.92. The company has a market cap of $17.39 billion, a P/E ratio of -3,516.78, a P/E/G ratio of 2.16 and a beta of 1.99. Toast, Inc. has a 12-month low of $21.32 and a 12-month high of $44.12.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Robert W. Baird upped their target price on Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. UBS Group lifted their target price on shares of Toast from $41.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods increased their price target on shares of Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a report on Thursday, February 20th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $50.00 price objective on shares of Toast in a research report on Thursday, February 20th. One investment 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's stock. According to data from MarketBeat.com, Toast has an average rating of "Hold" and an average price target of $40.48.

Insiders Place Their Bets

In other Toast news, CFO Elena Gomez sold 2,052 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 $81,320.76. Following the completion of the sale, the chief financial officer now directly owns 160,498 shares of the company's stock, valued at $6,360,535.74. The trade was a 1.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 47,073 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $35.03, for a total value of $1,648,967.19. Following the transaction, the president now directly owns 1,491,773 shares in the company, valued at $52,256,808.19. The trade was a 3.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,714 shares of company stock worth $5,360,943 in the last three months. 13.32% of the stock is owned by company insiders.

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.