Trinity Financial Advisors LLC Acquires 2,595 Shares of Toast, Inc. (NYSE:TOST)

Trinity Financial Advisors LLC boosted its stake in shares of Toast, Inc. (NYSE:TOST) by 26.0% in the fourth quarter, HoldingsChannel reports. The firm owned 12,590 shares of the company’s stock after purchasing an additional 2,595 shares during the quarter. Trinity Financial Advisors LLC’s holdings in Toast were worth $458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TOST. Principal Financial Group Inc. lifted its holdings in Toast by 4.6% during the 2nd quarter. Principal Financial Group Inc. now owns 38,663 shares of the company’s stock worth $996,000 after purchasing an additional 1,716 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Toast by 3.4% during the second quarter. Victory Capital Management Inc. now owns 49,002 shares of the company’s stock worth $1,263,000 after buying an additional 1,611 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Toast in the second quarter valued at about $714,000. Los Angeles Capital Management LLC acquired a new position in shares of Toast in the second quarter valued at about $221,000. Finally, Acadian Asset Management LLC bought a new position in Toast during the second quarter worth about $364,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Stock Down 4.0 %

Toast stock traded down $1.49 during trading hours on Friday, reaching $35.72. 5,394,354 shares of the company’s stock were exchanged, compared to its average volume of 4,661,202. The firm has a market capitalization of $16.82 billion, a PE ratio of -274.77, a PEG ratio of 23.40 and a beta of 1.97. The firm’s 50 day simple moving average is $38.43 and its 200 day simple moving average is $30.50. Toast, Inc. has a twelve month low of $16.13 and a twelve month high of $44.12.

Insiders Place Their Bets

In other news, President Stephen Fredette sold 40,459 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $29.04, for a total value of $1,174,929.36. Following the transaction, the president now owns 1,700,282 shares in the company, valued at $49,376,189.28. This trade represents a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.39, for a total value of $9,117,000.00. Following the sale, the general counsel now owns 177,836 shares of the company’s stock, valued at $5,404,436.04. This trade represents a 62.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,109,307 shares of company stock worth $38,235,613. 13.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TOST shares. BMO Capital Markets began coverage on shares of Toast in a research report on Monday. They set an “outperform” rating and a $45.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price target on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Bank of America upped their target price on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Keefe, Bruyette & Woods raised their price target on Toast from $29.00 to $40.00 and gave the stock a “market perform” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group cut their price objective on shares of Toast from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday. One equities 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.05.

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.