Wealthfront Advisers LLC Acquires New Position in Toast, Inc. (NYSE:TOST)

Wealthfront Advisers LLC acquired a new stake in Toast, Inc. (NYSE:TOST) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,883 shares of the company’s stock, valued at approximately $579,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. raised its position in Toast by 1.3% during the 3rd quarter. Victory Capital Management Inc. now owns 49,663 shares of the company’s stock worth $1,406,000 after buying an additional 661 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Toast during the 3rd quarter worth approximately $397,000. KBC Group NV raised its position in Toast by 66.5% during the 3rd quarter. KBC Group NV now owns 42,838 shares of the company’s stock worth $1,213,000 after buying an additional 17,106 shares during the last quarter. CIBC Asset Management Inc raised its position in Toast by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock worth $357,000 after buying an additional 448 shares during the last quarter. Finally, Natixis Advisors LLC raised its position in Toast by 43.9% during the 3rd quarter. Natixis Advisors LLC now owns 82,259 shares of the company’s stock worth $2,329,000 after buying an additional 25,113 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on TOST. DA Davidson reissued a “neutral” rating and set a $38.00 price target (down from $44.00) on shares of Toast in a research report on Thursday, December 5th. The Goldman Sachs Group set a $40.00 price objective on shares of Toast and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada raised their price objective on shares of Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Wells Fargo & Company raised their price objective on shares of Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Finally, BMO Capital Markets raised their price objective on shares of Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $40.48.

Insiders Place Their Bets

In other news, Director Christopher P. Comparato sold 145,000 shares of Toast stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the transaction, the director now owns 182,451 shares in the company, valued at $6,575,534.04. The trade was a 44.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the transaction, the president now owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. This represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,641 shares of company stock valued at $8,937,776 in the last 90 days. 13.32% of the stock is owned by insiders.

Toast Stock Up 5.5 %

Shares of TOST opened at $34.41 on Monday. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The firm’s fifty day moving average is $38.05 and its two-hundred day moving average is $34.78. The stock has a market cap of $17.00 billion, a PE ratio of -3,437.06, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST) last announced its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. As a group, research analysts anticipate that Toast, Inc. will post 0.39 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.