Envestnet Portfolio Solutions Inc. Raises Stock Holdings in Toast, Inc. (NYSE:TOST)

Envestnet Portfolio Solutions Inc. raised its stake in Toast, Inc. (NYSE:TOST) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,967 shares of the company’s stock after buying an additional 1,236 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Toast were worth $728,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TOST. Globeflex Capital L P lifted its holdings in shares of Toast by 11.6% in the 4th quarter. Globeflex Capital L P now owns 129,970 shares of the company’s stock worth $4,737,000 after acquiring an additional 13,500 shares during the last quarter. Natixis Advisors LLC raised its position in Toast by 10.2% in the fourth quarter. Natixis Advisors LLC now owns 90,614 shares of the company’s stock valued at $3,303,000 after purchasing an additional 8,355 shares during the period. Catalyst Funds Management Pty Ltd acquired a new position in Toast during the fourth quarter worth $313,000. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Toast by 7.1% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 78,342 shares of the company’s stock worth $2,889,000 after buying an additional 5,184 shares during the period. Finally, Vestcor Inc grew its stake in shares of Toast by 35.6% in the fourth quarter. Vestcor Inc now owns 7,736 shares of the company’s stock valued at $282,000 after buying an additional 2,032 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analysts Set New Price Targets

TOST has been the topic of several research reports. UBS Group increased their target price on Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Robert W. Baird raised their price objective on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. DA Davidson reaffirmed a “neutral” rating and set a $38.00 target price (down from $44.00) on shares of Toast in a research note on Thursday, December 5th. Morgan Stanley upped their price objective on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group set a $40.00 target price on Toast and gave the company a “neutral” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Toast has a consensus rating of “Hold” and a consensus target price of $40.48.

Insider Buying and Selling

In related news, CFO Elena Gomez sold 2,052 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $81,320.76. Following the sale, the chief financial officer now directly owns 160,498 shares in the company, valued at $6,360,535.74. The trade was a 1.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Stephen Fredette sold 70,340 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the transaction, the president now owns 1,574,316 shares of the company’s stock, valued at $53,322,082.92. This trade represents a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 270,770 shares of company stock valued at $9,409,211. Corporate insiders own 13.32% of the company’s stock.

Toast Price Performance

NYSE:TOST opened at $36.16 on Tuesday. The firm has a market cap of $17.86 billion, a price-to-earnings ratio of -3,612.09, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. The firm’s fifty day moving average price is $37.84 and its 200 day moving average price is $35.23. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $44.12.

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