Daiwa Securities Group Inc. Grows Position in Toast, Inc. (NYSE:TOST)

Daiwa Securities Group Inc. grew its stake in Toast, Inc. (NYSE:TOST) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,672 shares of the company’s stock after purchasing an additional 2,700 shares during the period. Daiwa Securities Group Inc.’s holdings in Toast were worth $2,175,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Makena Capital Management LLC boosted its position in Toast by 7.6% in the 3rd quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock worth $7,768,000 after purchasing an additional 19,371 shares in the last quarter. KBC Group NV raised its stake in shares of Toast by 66.5% during the 3rd quarter. KBC Group NV now owns 42,838 shares of the company’s stock worth $1,213,000 after buying an additional 17,106 shares during the period. Geode Capital Management LLC raised its stake in shares of Toast by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after buying an additional 155,212 shares during the period. MML Investors Services LLC raised its stake in shares of Toast by 40.6% during the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock worth $6,464,000 after buying an additional 65,957 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Toast by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock worth $107,108,000 after buying an additional 155,446 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analysts Set New Price Targets

TOST has been the subject of several research analyst reports. Canaccord Genuity Group upped their target price on Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. The Goldman Sachs Group set a $40.00 target price on Toast and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upped their target price on Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. BNP Paribas set a $37.00 target price on Toast and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada raised their price objective on Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Toast currently has a consensus rating of “Hold” and a consensus price target of $40.48.

Toast Trading Up 5.5 %

Shares of NYSE:TOST opened at $34.41 on Friday. The business has a 50-day moving average price of $38.12 and a 200 day moving average price of $34.56. The company has a market capitalization of $17.00 billion, a price-to-earnings ratio of -3,437.06, a PEG ratio of 2.16 and a beta of 1.99. Toast, Inc. has a 12-month low of $21.32 and a 12-month high of $44.12.

Toast (NYSE:TOST) last issued its quarterly earnings data 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 business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. As a group, equities research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Toast news, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the completion of the transaction, the president now directly owns 1,644,656 shares of the company’s stock, valued at $65,177,717.28. The trade was a 0.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Brian R. Elworthy sold 653 shares of Toast stock in a transaction dated 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 directly owns 209,206 shares of the company’s stock, valued at approximately $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,641 shares of company stock valued at $8,937,776. 13.32% of the stock is currently owned by 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.