HighTower Advisors LLC Boosts Stake in Toast, Inc. (NYSE:TOST)

HighTower Advisors LLC raised its holdings in shares of Toast, Inc. (NYSE:TOST – Get Rating) by 85.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 175,175 shares of the company’s stock after acquiring an additional 80,694 shares during the period. HighTower Advisors LLC’s holdings in Toast were worth $3,157,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Altimeter Capital Management LP raised its holdings in shares of Toast by 3,508.4% during the 1st quarter. Altimeter Capital Management LP now owns 18,041,796 shares of the company’s stock valued at $3,933,007,000 after buying an additional 17,541,796 shares in the last quarter. Durable Capital Partners LP raised its holdings in shares of Toast by 85.1% during the 3rd quarter. Durable Capital Partners LP now owns 14,705,314 shares of the company’s stock valued at $245,873,000 after buying an additional 6,762,023 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Toast by 23.6% during the 3rd quarter. Vanguard Group Inc. now owns 27,413,189 shares of the company’s stock valued at $458,348,000 after buying an additional 5,232,858 shares in the last quarter. State Street Corp raised its holdings in shares of Toast by 842.9% during the 2nd quarter. State Street Corp now owns 3,070,960 shares of the company’s stock valued at $39,738,000 after buying an additional 2,745,261 shares in the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of Toast during the 1st quarter valued at about $33,356,000. 50.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director David Yuan bought 135,000 shares of the company’s stock in a transaction on Monday, May 15th. The shares were acquired at an average cost of $19.44 per share, with a total value of $2,624,400.00. Following the completion of the acquisition, the director now owns 388,614 shares of the company’s stock, valued at approximately $7,554,656.16. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Toast news, Director David Yuan purchased 135,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was purchased at an average price of $19.44 per share, for a total transaction of $2,624,400.00. Following the completion of the purchase, the director now directly owns 388,614 shares of the company’s stock, valued at $7,554,656.16. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher P. Comparato sold 33,333 shares of the business’s stock in a transaction on Monday, March 20th. The stock was sold at an average price of $16.70, for a total value of $556,661.10. Following the completion of the transaction, the chief executive officer now owns 109,895 shares of the company’s stock, valued at approximately $1,835,246.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 391,727 shares of company stock valued at $7,509,345. 20.16% of the stock is currently owned by corporate insiders.

Toast Stock Performance

NYSE TOST opened at $20.81 on Monday. Toast, Inc. has a twelve month low of $12.15 and a twelve month high of $26.03. The stock’s 50 day moving average is $17.89 and its 200 day moving average is $18.99.

Toast (NYSE:TOST – Get Rating) last released its earnings results on Tuesday, May 9th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.02. Toast had a negative return on equity of 29.74% and a negative net margin of 11.01%. The business had revenue of $819.00 million for the quarter, compared to the consensus estimate of $763.11 million. During the same period in the previous year, the company posted ($0.20) earnings per share. The company’s revenue for the quarter was up 53.1% compared to the same quarter last year. As a group, equities analysts predict that Toast, Inc. will post -0.57 EPS for the current year.

Analyst Ratings Changes

TOST has been the topic of a number of research reports. Mizuho raised their price objective on Toast from $23.00 to $25.00 in a report on Tuesday, May 16th. BNP Paribas started coverage on Toast in a research note on Thursday, March 23rd. They issued a “neutral” rating and a $16.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on Toast in a research note on Thursday, April 6th. They issued a “hold” rating and a $20.00 price target on the stock. DA Davidson reaffirmed a “buy” rating on shares of Toast in a research note on Monday, April 3rd. Finally, Needham & Company LLC decreased their price target on Toast from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, February 17th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $22.75.

About Toast

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Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.