MeadowBrook Investment Advisors LLC Invests $159,000 in Toast, Inc. (NYSE:TOST)

MeadowBrook Investment Advisors LLC bought a new stake in shares of Toast, Inc. (NYSE:TOST) in the 4th quarter, Holdings Channel.com reports. The firm bought 8,690 shares of the company’s stock, valued at approximately $159,000.

A number of other hedge funds have also recently bought and sold shares of the company. Sei Investments Co. grew its stake in shares of Toast by 105.0% in the 3rd quarter. Sei Investments Co. now owns 691,018 shares of the company’s stock worth $12,943,000 after purchasing an additional 353,903 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Toast by 11.1% during the 3rd 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. ARK Investment Management LLC boosted its stake in shares of Toast by 101.5% during the 4th quarter. ARK Investment Management LLC now owns 2,345,520 shares of the company’s stock worth $42,829,000 after acquiring an additional 1,181,409 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Toast by 1,542.9% in the 4th quarter. International Assets Investment Management LLC now owns 57,336 shares of the company’s stock worth $1,047,000 after acquiring an additional 53,846 shares during the last quarter. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Toast during the third quarter worth $936,000. 82.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on TOST. Wells Fargo & Company increased their price target on Toast from $15.00 to $17.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Redburn Atlantic raised shares of Toast from a “neutral” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, February 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $23.00 price target on shares of Toast in a research report on Thursday, April 11th. Piper Sandler raised their price objective on shares of Toast from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Finally, BNP Paribas raised shares of Toast from a “neutral” rating to an “outperform” rating and set a $30.00 target price on the stock in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $24.32.

Toast Price Performance

TOST traded up $0.82 during midday trading on Monday, hitting $23.56. 7,113,008 shares of the company’s stock traded hands, compared to its average volume of 7,950,186. The company has a market cap of $10.63 billion, a PE ratio of -46.20 and a beta of 1.77. The stock’s fifty day simple moving average is $23.55 and its 200-day simple moving average is $19.44. Toast, Inc. has a one year low of $13.77 and a one year high of $27.00.

Toast (NYSE:TOST) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. Toast’s revenue for the quarter was up 34.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.19) EPS. On average, research analysts expect that Toast, Inc. will post -0.22 EPS for the current year.

Insider Transactions at Toast

In other news, President Stephen Fredette sold 2,272 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $53,164.80. Following the completion of the sale, the president now directly owns 2,835,759 shares in the company, valued at $66,356,760.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Aman Narang sold 2,471 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $57,821.40. Following the sale, the chief executive officer now owns 1,114,454 shares in the company, valued at $26,078,223.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 2,272 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $53,164.80. Following the completion of the sale, the president now directly owns 2,835,759 shares of the company’s stock, valued at $66,356,760.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,510 shares of company stock worth $4,381,885. 13.70% of the stock is owned by corporate insiders.

Toast Company 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.