Entropy Technologies LP Makes New Investment in Toast, Inc. (NYSE:TOST)

Entropy Technologies LP acquired a new stake in Toast, Inc. (NYSE:TOST) in the third quarter, HoldingsChannel reports. The fund acquired 31,596 shares of the company’s stock, valued at approximately $894,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Stephens Investment Management Group LLC grew its holdings in Toast by 13.1% during the third quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company’s stock worth $53,358,000 after purchasing an additional 218,959 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Toast by 39.7% during the 2nd quarter. QRG Capital Management Inc. now owns 84,967 shares of the company’s stock worth $2,190,000 after acquiring an additional 24,164 shares during the period. Epoch Investment Partners Inc. acquired a new position in shares of Toast during the 1st quarter worth approximately $633,000. Harbor Capital Advisors Inc. raised its stake in Toast by 29.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 103,110 shares of the company’s stock valued at $2,919,000 after acquiring an additional 23,345 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in Toast by 2,731.0% during the 3rd quarter. International Assets Investment Management LLC now owns 95,971 shares of the company’s stock valued at $2,717,000 after purchasing an additional 92,581 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. The Goldman Sachs Group upped their price objective on shares of Toast from $29.00 to $33.00 and gave the company a “buy” rating in a report on Monday, October 14th. Mizuho upgraded shares of Toast from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $21.00 to $33.00 in a research report on Thursday, July 18th. 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. DA Davidson lifted their price target on Toast from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Wedbush upped their price objective on Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $32.75.

Toast Trading Up 1.2 %

TOST opened at $39.92 on Thursday. The company has a market cap of $18.80 billion, a P/E ratio of -307.08 and a beta of 1.74. The company’s 50 day moving average is $29.08 and its 200-day moving average is $26.32. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $40.53.

Insider Buying and Selling at Toast

In other news, Director Christopher P. Comparato sold 100,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $24.35, for a total transaction of $2,435,000.00. Following the completion of the transaction, the director now directly owns 120,107 shares in the company, valued at approximately $2,924,605.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Christopher P. Comparato sold 100,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $24.35, for a total transaction of $2,435,000.00. Following the sale, the director now directly owns 120,107 shares in the company, valued at approximately $2,924,605.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Stephen Fredette sold 101,574 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $25.73, for a total value of $2,613,499.02. Following the completion of the transaction, the president now directly owns 2,395,685 shares of the company’s stock, valued at $61,640,975.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,575,651 shares of company stock worth $45,472,212 over the last quarter. Corporate insiders own 13.32% of the company’s stock.

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.