Independent Wealth Network Inc. Invests $254,000 in Toast, Inc. (NYSE:TOST)

Independent Wealth Network Inc. bought a new stake in Toast, Inc. (NYSE:TOST) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,982 shares of the company’s stock, valued at approximately $254,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Toth Financial Advisory Corp bought a new position in shares of Toast in the 3rd quarter worth approximately $28,000. Raleigh Capital Management Inc. raised its position in Toast by 93.4% in the third quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock worth $42,000 after acquiring an additional 720 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Toast by 32.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock worth $58,000 after acquiring an additional 496 shares during the last quarter. Global Trust Asset Management LLC bought a new stake in shares of Toast during the 4th quarter valued at $58,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Toast in the 3rd quarter worth $59,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Toast

In related news, Director Richard Kent Bennett sold 100,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $36.67, for a total transaction of $3,667,000.00. Following the transaction, the director now directly owns 418,591 shares in the company, valued at approximately $15,349,731.97. This represents a 19.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Aman Narang sold 1,646 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was 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 of the company’s stock, valued at approximately $30,146,667.60. The trade was a 0.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 562,600 shares of company stock worth $21,823,932. Company insiders own 13.32% of the company’s stock.

Toast Stock Performance

Toast stock opened at $39.99 on Friday. The company’s 50-day moving average price is $38.87 and its 200-day moving average price is $31.25. Toast, Inc. has a twelve month low of $16.13 and a twelve month high of $44.12.

Toast (NYSE:TOST) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%. During the same period in the previous year, the firm posted ($0.09) earnings per share. As a group, equities analysts forecast that Toast, Inc. will post 0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

TOST has been the topic of several analyst reports. Robert W. Baird lifted their target price on Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. increased their target price on shares of Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Wedbush lifted their price target on shares of Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Keefe, Bruyette & Woods increased their price objective on shares of Toast from $29.00 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, December 9th. Finally, Compass Point assumed coverage on shares of Toast in a report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 target price for the company. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $35.27.

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.