Perpetual Ltd Makes New Investment in Toast, Inc. (NYSE:TOST)

Perpetual Ltd purchased a new position in shares of Toast, Inc. (NYSE:TOST) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,670,183 shares of the company’s stock, valued at approximately $60,878,000. Perpetual Ltd owned 0.35% of Toast as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mirador Capital Partners LP grew its position in Toast by 0.9% during the fourth quarter. Mirador Capital Partners LP now owns 41,938 shares of the company’s stock valued at $1,529,000 after acquiring an additional 360 shares during the period. D.A. Davidson & CO. increased its holdings in Toast by 1.9% during the 3rd quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock worth $626,000 after purchasing an additional 409 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Toast by 1.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock valued at $927,000 after purchasing an additional 421 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Toast by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock valued at $797,000 after buying an additional 441 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Toast by 3.7% during the third quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock worth $357,000 after buying an additional 448 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Trading Up 2.4 %

Shares of TOST stock opened at $37.76 on Tuesday. Toast, Inc. has a 1 year low of $16.13 and a 1 year high of $44.12. The stock has a fifty day moving average of $38.91 and a two-hundred day moving average of $31.11.

Analyst Ratings Changes

A number of research firms have commented on TOST. BNP Paribas downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their price target on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Morgan Stanley upped their price objective on Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Compass Point began coverage on Toast in a research report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 target price for the company. Finally, Wedbush upped their price target on Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Toast presently has a consensus rating of “Hold” and a consensus target price of $35.27.

Insider Activity at Toast

In related news, CEO Aman Narang sold 1,646 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $51,157.68. Following the completion of the sale, the chief executive officer now directly owns 969,970 shares in the company, valued at approximately $30,146,667.60. This trade represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christopher P. Comparato sold 145,000 shares of Toast stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $36.04, for a total value of $5,225,800.00. Following the completion of the transaction, the director now owns 182,451 shares in the company, valued at $6,575,534.04. The trade was a 44.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 562,600 shares of company stock worth $21,823,932 in the last 90 days. Corporate insiders own 13.32% of the company’s stock.

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.