MetLife Investment Management LLC Has $944,000 Holdings in Toast, Inc. $TOST

MetLife Investment Management LLC boosted its stake in Toast, Inc. (NYSE:TOST) by 1.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,467 shares of the company’s stock after purchasing an additional 543 shares during the quarter. MetLife Investment Management LLC’s holdings in Toast were worth $944,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Procyon Advisors LLC acquired a new position in Toast in the first quarter valued at about $242,000. Wealth Enhancement Advisory Services LLC raised its stake in Toast by 19.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company’s stock worth $829,000 after acquiring an additional 3,713 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new position in Toast during the first quarter worth about $252,000. Charles Schwab Investment Management Inc. raised its stake in Toast by 5.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,092,210 shares of the company’s stock worth $102,569,000 after acquiring an additional 153,723 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Toast by 14,258.8% during the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock worth $181,587,000 after acquiring an additional 5,436,317 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Activity at Toast

In related news, CFO Elena Gomez sold 2,006 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $48.38, for a total value of $97,050.28. Following the sale, the chief financial officer directly owned 141,263 shares in the company, valued at $6,834,303.94. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 1,720 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $48.38, for a total value of $83,213.60. Following the completion of the sale, the president owned 890,818 shares in the company, valued at $43,097,774.84. The trade was a 0.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,054 shares of company stock valued at $4,223,686. Corporate insiders own 12.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Toast from $42.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Truist Financial boosted their target price on Toast from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Barclays reissued an “overweight” rating on shares of Toast in a research note on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Toast in a research note on Thursday, July 17th. They set a “buy” rating and a $54.00 target price for the company. Finally, Canaccord Genuity Group boosted their target price on Toast from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.54.

Toast Trading Up 0.1%

NYSE:TOST opened at $41.16 on Friday. The stock has a market cap of $20.99 billion, a P/E ratio of 121.06 and a beta of 2.00. The stock’s 50-day moving average is $44.89 and its 200-day moving average is $40.39. Toast, Inc. has a 1-year low of $22.91 and a 1-year high of $49.66.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. Toast had a return on equity of 14.19% and a net margin of 4.07%.The business’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 earnings per share. As a group, equities analysts forecast that Toast, Inc. will post 0.39 EPS for the current year.

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.