MeadowBrook Investment Advisors LLC Decreases Position in Toast, Inc. (NYSE:TOST)

MeadowBrook Investment Advisors LLC decreased its holdings in shares of Toast, Inc. (NYSE:TOST) by 20.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,860 shares of the company’s stock after selling 1,270 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in Toast were worth $177,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TOST. ValueAct Holdings L.P. purchased a new stake in Toast during the third quarter worth approximately $438,301,000. FMR LLC lifted its stake in Toast by 50.5% during the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after purchasing an additional 8,205,053 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Toast by 2,889.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock worth $108,427,000 after purchasing an additional 3,701,893 shares during the last quarter. Perpetual Ltd acquired a new position in Toast during the fourth quarter worth approximately $60,878,000. Finally, Worldquant Millennium Advisors LLC increased its position in Toast by 1,475.0% during the third quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company’s stock worth $24,091,000 after buying an additional 796,936 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TOST. Wells Fargo & Company lifted their price target on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their target price on Toast from $29.00 to $40.00 and gave the company a “market perform” rating in a report on Monday, December 9th. BMO Capital Markets assumed coverage on Toast in a report on Monday, January 6th. They issued an “outperform” rating and a $45.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada boosted their target price on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.09.

Toast Stock Performance

Shares of NYSE:TOST opened at $40.12 on Wednesday. Toast, Inc. has a 52-week low of $18.47 and a 52-week high of $44.12. The stock’s fifty day simple moving average is $38.32 and its 200-day simple moving average is $32.72.

Insider Activity

In related news, Director Christopher P. Comparato sold 145,000 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $36.04, for a total value of $5,225,800.00. Following the completion of the transaction, the director now directly owns 182,451 shares in the company, valued at approximately $6,575,534.04. This represents a 44.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Brian R. Elworthy sold 653 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the transaction, the general counsel now owns 209,206 shares of the company’s stock, valued at $8,290,833.78. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 362,449 shares of company stock worth $14,538,099 over the last three months. 13.32% of the stock is currently owned by corporate insiders.

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.