Smith Group Asset Management LLC Makes New Investment in Toast, Inc. (NYSE:TOST)

Smith Group Asset Management LLC bought a new stake in shares of Toast, Inc. (NYSE:TOST) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,731 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. grew its holdings in Toast by 59.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 383,275 shares of the company’s stock valued at $13,970,000 after purchasing an additional 143,042 shares during the period. R Squared Ltd bought a new position in shares of Toast during the 4th quarter worth $143,000. Piscataqua Savings Bank purchased a new stake in Toast in the 4th quarter worth about $26,000. KBC Group NV raised its stake in Toast by 24.7% in the 4th quarter. KBC Group NV now owns 53,401 shares of the company’s stock valued at $1,946,000 after acquiring an additional 10,563 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after purchasing an additional 378 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.

Insider Activity

In other Toast news, Director David Yuan sold 189,785 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $43.01, for a total value of $8,162,652.85. Following the transaction, the director now owns 198,829 shares in the company, valued at approximately $8,551,635.29. The trade was a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher P. Comparato sold 145,000 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the sale, the director now owns 182,451 shares of the company’s stock, valued at approximately $6,575,534.04. This represents a 44.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 562,600 shares of company stock valued at $21,823,932. Insiders own 13.32% of the company’s stock.

Toast Price Performance

TOST stock opened at $40.03 on Thursday. Toast, Inc. has a one year low of $17.65 and a one year high of $44.12. The company’s 50 day moving average price is $38.71 and its two-hundred day moving average price is $31.77.

Toast (NYSE:TOST) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the firm posted ($0.09) earnings per share. As a group, analysts anticipate that Toast, Inc. will post 0.03 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TOST shares. Morgan Stanley lifted their target price on shares of Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group dropped their target price on Toast from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Stephens lifted their price target on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Compass Point began coverage on Toast in a research note on Wednesday, November 20th. They set a “buy” rating and a $49.00 price objective on the stock. Finally, Wedbush raised their target price on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.74.

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.