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

Wealthfront Advisers LLC acquired a new stake in Toast, Inc. (NYSE:TOST) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,883 shares of the company’s stock, valued at approximately $579,000.

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

Insider Buying and Selling at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the sale, the general counsel now owns 209,206 shares in the company, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 1,068 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the completion of the sale, the president now owns 1,644,656 shares of the company’s stock, 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. Over the last quarter, insiders sold 254,641 shares of company stock worth $8,937,776. 13.32% of the stock is owned by insiders.

Toast Stock Up 5.5 %

Shares of TOST opened at $34.41 on Monday. The stock has a 50 day moving average price of $38.05 and a 200 day moving average price of $34.78. The company has a market capitalization of $17.00 billion, a price-to-earnings ratio of -3,437.06, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12.

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

Analyst Upgrades and Downgrades

TOST has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Robert W. Baird lifted their target price on Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Wells Fargo & Company lifted their target price on Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Oppenheimer started coverage on Toast in a research report on Friday, January 24th. They issued an “outperform” rating and a $46.00 target price for the company. Finally, DA Davidson reissued a “neutral” rating and set a $38.00 price objective (down from $44.00) on shares of Toast in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $40.48.

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.