Newbridge Financial Services Group Inc. Makes New Investment in Toast, Inc. (NYSE:TOST)

Newbridge Financial Services Group Inc. acquired a new position in shares of Toast, Inc. (NYSE:TOST) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,150 shares of the company’s stock, valued at approximately $42,000.

Other hedge funds have also recently bought and sold shares of the company. Makena Capital Management LLC raised its stake in Toast by 7.6% during the third quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock worth $7,768,000 after acquiring an additional 19,371 shares in the last quarter. KBC Group NV raised its stake in Toast by 66.5% during the third quarter. KBC Group NV now owns 42,838 shares of the company’s stock worth $1,213,000 after acquiring an additional 17,106 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Toast by 2.3% in the third quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after buying an additional 155,212 shares in the last quarter. MML Investors Services LLC increased its stake in shares of Toast by 40.6% in the third quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock valued at $6,464,000 after buying an additional 65,957 shares in the last quarter. Finally, Qsemble Capital Management LP increased its stake in shares of Toast by 52.1% in the third quarter. Qsemble Capital Management LP now owns 67,796 shares of the company’s stock valued at $1,919,000 after buying an additional 23,231 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Brian R. Elworthy sold 653 shares of Toast stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the transaction, the general counsel now owns 209,206 shares in the company, valued at $8,290,833.78. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher P. Comparato sold 145,000 shares of Toast stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $36.04, for a total value of $5,225,800.00. Following the transaction, the director now owns 182,451 shares in the company, valued at $6,575,534.04. This trade represents a 44.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 362,449 shares of company stock worth $14,538,099. Insiders own 13.32% of the company’s stock.

Toast Trading Down 3.1 %

Shares of TOST opened at $40.12 on Wednesday. Toast, Inc. has a 1 year low of $18.47 and a 1 year high of $44.12. The stock has a market cap of $18.90 billion, a P/E ratio of -308.61, a price-to-earnings-growth ratio of 2.25 and a beta of 1.98. The stock’s 50-day moving average price is $38.32 and its two-hundred day moving average price is $32.72.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Morgan Stanley raised their target price on Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group lowered their target price on Toast from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. BNP Paribas lowered Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Wednesday, November 20th. JPMorgan Chase & Co. raised their target price on Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Robert W. Baird raised their target price on Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.09.

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.