Raymond James Financial Inc. Takes $21.47 Million Position in Toast, Inc. (NYSE:TOST)

Raymond James Financial Inc. bought a new stake in Toast, Inc. (NYSE:TOST - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 588,881 shares of the company's stock, valued at approximately $21,465,000. Raymond James Financial Inc. owned approximately 0.13% of Toast as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of TOST. Victory Capital Management Inc. grew its stake in shares of Toast by 1.3% in the third quarter. Victory Capital Management Inc. now owns 49,663 shares of the company's stock valued at $1,406,000 after buying an additional 661 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Toast during the 3rd quarter valued at approximately $397,000. KBC Group NV grew its stake in Toast by 66.5% during the 3rd quarter. KBC Group NV now owns 42,838 shares of the company's stock valued at $1,213,000 after purchasing an additional 17,106 shares in the last quarter. CIBC Asset Management Inc grew its stake in Toast by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 12,614 shares of the company's stock valued at $357,000 after purchasing an additional 448 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake in Toast by 43.9% during the 3rd quarter. Natixis Advisors LLC now owns 82,259 shares of the company's stock valued at $2,329,000 after purchasing an additional 25,113 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Insider Activity at Toast

In related news, President Stephen Fredette sold 47,073 shares of the firm's stock in a transaction that occurred 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 sale, the president now directly owns 1,491,773 shares in the company, valued at $52,256,808.19. This trade represents a 3.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Deval L. Patrick sold 34,222 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $33.01, for a total value of $1,129,668.22. Following the completion of the sale, the director now owns 13,260 shares in the company, valued at approximately $437,712.60. This represents a 72.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 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.

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Wall Street Analyst Weigh In

TOST has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their price objective on Toast from $43.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. UBS Group raised their price objective on Toast from $41.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Compass Point initiated coverage on Toast in a research note on Wednesday, November 20th. They set a "buy" rating and a $49.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company increased their target price on Toast from $25.00 to $30.00 and gave the stock an "underweight" rating in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Toast currently has an average rating of "Hold" and a consensus target price of $40.48.

Toast Price Performance

Shares of NYSE TOST traded up $0.80 during mid-day trading on Thursday, hitting $35.90. The company had a trading volume of 6,024,451 shares, compared to its average volume of 6,513,179. The stock has a market cap of $17.73 billion, a price-to-earnings ratio of -3,586.01, a PEG 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. The firm's 50 day simple moving average is $37.90 and its two-hundred day simple moving average is $34.91.

Toast (NYSE:TOST - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.05 EPS 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 business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Equities analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current 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.