Seven Mile Advisory Raises Position in Toast, Inc. (NYSE:TOST)

Seven Mile Advisory lifted its stake in Toast, Inc. (NYSE:TOST) by 40.4% in the 4th quarter, HoldingsChannel reports. The firm owned 11,014 shares of the company’s stock after acquiring an additional 3,172 shares during the period. Seven Mile Advisory’s holdings in Toast were worth $401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC raised its stake in shares of Toast by 81.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 23,049 shares of the company’s stock worth $840,000 after buying an additional 10,380 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Toast by 50.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,998 shares of the company’s stock worth $223,000 after purchasing an additional 2,011 shares in the last quarter. Schroder Investment Management Group bought a new stake in Toast during the 4th quarter valued at approximately $941,000. Arrowstreet Capital Limited Partnership purchased a new stake in Toast during the 4th quarter valued at approximately $282,010,000. Finally, Allstate Corp bought a new position in shares of Toast during the fourth quarter worth $418,000. 82.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on TOST. Keefe, Bruyette & Woods boosted their price target on shares of Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a research note on Thursday, February 20th. Canaccord Genuity Group raised their price target on Toast from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, February 20th. BNP Paribas set a $37.00 price objective on Toast and gave the stock a “neutral” rating in a report on Wednesday, February 19th. DA Davidson reissued a “neutral” rating and issued a $38.00 target price (down from $44.00) on shares of Toast in a report on Thursday, December 5th. Finally, Royal Bank of Canada upped their price target on shares of Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Toast presently has an average rating of “Hold” and a consensus target price of $40.48.

Insider Activity

In related news, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the transaction, the president now directly owns 1,644,656 shares of the company’s stock, valued at $65,177,717.28. This trade represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the sale, the general counsel now owns 209,206 shares of the company’s stock, valued at approximately $8,290,833.78. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 270,770 shares of company stock worth $9,409,211. Company insiders own 13.32% of the company’s stock.

Toast Price Performance

Toast stock opened at $33.53 on Monday. The stock has a market cap of $16.56 billion, a price-to-earnings ratio of -3,349.25, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. The firm has a 50-day moving average of $37.72 and a two-hundred day moving average of $35.48. Toast, Inc. has a 1 year low of $21.32 and a 1 year high of $44.12.

Toast (NYSE:TOST) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm 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%. Research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

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.