Allstate Corp Takes Position in Toast, Inc. (NYSE:TOST)

Allstate Corp acquired a new position in shares of Toast, Inc. (NYSE:TOST) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 11,473 shares of the company’s stock, valued at approximately $418,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TOST. Bank of Montreal Can lifted its position in Toast by 6.5% during the third quarter. Bank of Montreal Can now owns 65,607 shares of the company’s stock valued at $1,837,000 after buying an additional 3,996 shares in the last quarter. Townsquare Capital LLC lifted its holdings in shares of Toast by 13.5% during the 3rd quarter. Townsquare Capital LLC now owns 9,217 shares of the company’s stock valued at $261,000 after acquiring an additional 1,095 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Toast by 32.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 117,812 shares of the company’s stock worth $3,335,000 after purchasing an additional 28,663 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Toast by 17.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,504,641 shares of the company’s stock valued at $42,596,000 after purchasing an additional 218,313 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in Toast by 23.7% in the third quarter. Rockefeller Capital Management L.P. now owns 113,974 shares of the company’s stock valued at $3,227,000 after purchasing an additional 21,806 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. UBS Group increased their target price on Toast from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Toast in a research note on Thursday, February 20th. Morgan Stanley upped their target price on shares of Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. The Goldman Sachs Group lowered 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. Finally, DA Davidson restated a “neutral” rating and set a $38.00 target price (down from $44.00) on shares of Toast in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Toast currently has a consensus rating of “Hold” and a consensus price target of $40.38.

Insider Transactions at Toast

In related news, General Counsel Brian R. Elworthy sold 653 shares of the firm’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 value of $25,878.39. Following the sale, the general counsel now directly owns 209,206 shares in the company, valued at $8,290,833.78. This trade represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Stephen Fredette sold 70,340 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $33.87, for a total value of $2,382,415.80. Following the transaction, the president now owns 1,574,316 shares of the company’s stock, valued at $53,322,082.92. This trade represents a 4.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 270,770 shares of company stock worth $9,409,211. 13.32% of the stock is currently owned by company insiders.

Toast Price Performance

Toast stock opened at $35.77 on Thursday. The company has a market cap of $17.67 billion, a PE ratio of -3,573.43, 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. The company has a fifty day moving average price of $37.48 and a two-hundred day moving average price of $35.66.

Toast (NYSE:TOST) last announced its quarterly earnings data 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). Toast had a net margin of 0.40% and a return on equity of 1.54%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Equities research analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current year.

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.