Toast, Inc. (NYSE:TOST) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. boosted its stake in Toast, Inc. (NYSE:TOST) by 5.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 13,985 shares of the company’s stock after buying an additional 774 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Toast were worth $255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Toast by 11.1% in the third quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock valued at $657,032,000 after acquiring an additional 3,494,579 shares during the last quarter. Morgan Stanley raised its holdings in shares of Toast by 149.3% in the third quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock valued at $224,896,000 after buying an additional 7,191,595 shares during the last quarter. Abdiel Capital Advisors LP raised its holdings in shares of Toast by 0.8% in the third quarter. Abdiel Capital Advisors LP now owns 10,876,373 shares of the company’s stock valued at $203,714,000 after buying an additional 86,536 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Toast by 69.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,600,377 shares of the company’s stock valued at $120,523,000 after buying an additional 2,708,597 shares during the last quarter. Finally, Eventide Asset Management LLC raised its holdings in shares of Toast by 82.4% in the third quarter. Eventide Asset Management LLC now owns 2,926,074 shares of the company’s stock valued at $54,805,000 after buying an additional 1,322,208 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Price Performance

TOST stock opened at $25.46 on Friday. The company’s 50 day simple moving average is $24.31 and its 200-day simple moving average is $20.39. The firm has a market capitalization of $11.53 billion, a PE ratio of -50.92 and a beta of 1.77. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $27.90.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, meeting the consensus estimate of ($0.15). The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The company’s quarterly revenue was up 31.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.16) earnings per share. As a group, sell-side analysts anticipate that Toast, Inc. will post -0.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on TOST. UBS Group upped their target price on shares of Toast from $22.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Wedbush reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Toast in a report on Thursday. Needham & Company LLC upped their target price on shares of Toast from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Piper Sandler boosted their price target on shares of Toast from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Finally, Wells Fargo & Company boosted their price target on shares of Toast from $17.00 to $19.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $26.00.

Insider Activity at Toast

In related news, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $57,821.40. Following the transaction, the chief executive officer now owns 1,114,454 shares of the company’s stock, valued at $26,078,223.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $57,821.40. Following the transaction, the chief executive officer now owns 1,114,454 shares of the company’s stock, valued at $26,078,223.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Brian R. Elworthy sold 1,481 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $34,655.40. Following the transaction, the general counsel now directly owns 162,883 shares in the company, valued at approximately $3,811,462.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,010 shares of company stock valued at $4,711,760. Company insiders own 13.32% of the company’s stock.

Toast 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.