Sheets Smith Investment Management Takes $1.59 Million Position in Toast, Inc. (NYSE:TOST)

Sheets Smith Investment Management bought a new stake in Toast, Inc. (NYSE:TOST) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 43,489 shares of the company’s stock, valued at approximately $1,585,000. Toast makes up approximately 1.3% of Sheets Smith Investment Management’s investment portfolio, making the stock its 24th biggest position.

A number of other large investors also recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Toast by 0.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company’s stock valued at $1,408,000 after purchasing an additional 301 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Toast by 11.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company’s stock worth $125,000 after acquiring an additional 358 shares during the period. Mirador Capital Partners LP lifted its holdings in Toast by 0.9% during the fourth quarter. Mirador Capital Partners LP now owns 41,938 shares of the company’s stock worth $1,529,000 after acquiring an additional 360 shares during the period. 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 worth $25,000 after acquiring an additional 378 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in Toast by 19.8% during the fourth quarter. Farther Finance Advisors LLC now owns 2,435 shares of the company’s stock worth $89,000 after acquiring an additional 402 shares during the period. Institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

Shares of NYSE TOST opened at $35.20 on Monday. The stock has a market cap of $17.39 billion, a PE ratio of -3,516.78, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12. The stock has a fifty day moving average of $37.82 and a 200-day moving average of $35.15.

Toast (NYSE:TOST) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company 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%. On average, sell-side analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

Insider Activity at Toast

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

Analyst Upgrades and Downgrades

TOST has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $40.00 price target on Toast and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Morgan Stanley lifted their price target on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. DA Davidson reiterated a “neutral” rating and set a $38.00 price target (down from $44.00) on shares of Toast in a report on Thursday, December 5th. JPMorgan Chase & Co. lifted their price target on Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, Royal Bank of Canada lifted their price target on Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Toast has an average rating of “Hold” and an average price target of $40.48.

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.