Lecap Asset Management Ltd. Invests $2.49 Million in Toast, Inc. (NYSE:TOST)

Lecap Asset Management Ltd. acquired a new stake in Toast, Inc. (NYSE:TOST) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 68,292 shares of the company’s stock, valued at approximately $2,489,000.

Several other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Toast by 0.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company’s stock worth $1,408,000 after buying an additional 301 shares in the last quarter. Mirador Capital Partners LP grew its position in Toast by 0.9% in 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 last quarter. Blue Trust Inc. raised its stake in Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after acquiring an additional 378 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Toast by 1.9% in the 3rd quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock valued at $626,000 after purchasing an additional 409 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings 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 purchasing an additional 441 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David Yuan sold 189,785 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the completion of the sale, the director now directly owns 198,829 shares of the company’s stock, valued at $8,551,635.29. The trade was a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard Kent Bennett sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $36.67, for a total value of $3,667,000.00. Following the completion of the transaction, the director now owns 418,591 shares in the company, valued at $15,349,731.97. This represents a 19.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 462,449 shares of company stock worth $18,205,099 over the last quarter. 13.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Compass Point assumed coverage on Toast in a report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 target price for the company. BMO Capital Markets began coverage on Toast in a research note on Monday, January 6th. They set an “outperform” rating and a $45.00 price target on the stock. Robert W. Baird boosted their price target on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their target price on Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.74.

Toast Stock Up 1.6 %

TOST opened at $41.99 on Friday. The company has a fifty day moving average price of $38.46 and a two-hundred day moving average price of $32.25. Toast, Inc. has a 1-year low of $18.47 and a 1-year high of $44.12.

Toast (NYSE:TOST) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the business earned ($0.09) EPS. On average, equities analysts expect that Toast, Inc. will post 0.03 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.