Greenland Capital Management LP Makes New $5.81 Million Investment in Toast, Inc. $TOST

Greenland Capital Management LP bought a new stake in shares of Toast, Inc. (NYSE:TOST) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 131,057 shares of the company’s stock, valued at approximately $5,805,000.

A number of other institutional investors also recently bought and sold shares of TOST. Ameritas Advisory Services LLC bought a new stake in Toast during the 2nd quarter valued at approximately $31,000. REAP Financial Group LLC lifted its stake in shares of Toast by 173.3% in the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock valued at $35,000 after purchasing an additional 506 shares during the period. Motco bought a new stake in shares of Toast during the second quarter valued at approximately $44,000. Cullen Frost Bankers Inc. grew its stake in Toast by 1,383.8% in the second quarter. Cullen Frost Bankers Inc. now owns 1,009 shares of the company’s stock worth $45,000 after purchasing an additional 941 shares during the period. Finally, Whipplewood Advisors LLC grew its stake in Toast by 2,356.1% in the second quarter. Whipplewood Advisors LLC now owns 1,007 shares of the company’s stock worth $45,000 after purchasing an additional 966 shares during the period. 82.91% of the stock is owned by institutional investors.

Toast Stock Performance

TOST stock opened at $33.75 on Wednesday. The company has a market cap of $17.38 billion, a price-to-earnings ratio of 78.50 and a beta of 1.94. The business’s 50-day moving average is $37.52 and its two-hundred day moving average is $41.50. Toast, Inc. has a fifty-two week low of $28.12 and a fifty-two week high of $49.66.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a net margin of 4.68% and a return on equity of 15.77%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the firm earned $0.07 earnings per share. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year. Equities analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Transactions at Toast

In other Toast news, CEO Aman Narang sold 1,732 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $61,555.28. Following the sale, the chief executive officer owned 319,939 shares in the company, valued at approximately $11,370,632.06. This trade represents a 0.54% 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, CRO Jonathan Vassil sold 1,442 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total value of $51,248.68. Following the completion of the transaction, the executive owned 71,424 shares in the company, valued at $2,538,408.96. The trade was a 1.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 62,259 shares of company stock worth $2,299,020 over the last three months. 12.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Toast from $50.00 to $42.00 and set a “market perform” rating for the company in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Toast in a report on Monday. Royal Bank Of Canada set a $45.00 target price on shares of Toast in a research note on Wednesday, November 5th. Truist Financial reduced their price target on shares of Toast from $47.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Jefferies Financial Group lowered their price objective on Toast from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Toast presently has an average rating of “Moderate Buy” and a consensus price target of $45.45.

Toast 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.