Sheets Smith Investment Management Makes New Investment in Toast, Inc. (NYSE:TOST)

Sheets Smith Investment Management purchased a new position in shares of Toast, Inc. (NYSE:TOST) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 43,489 shares of the company’s stock, valued at approximately $1,585,000. Toast comprises approximately 1.3% of Sheets Smith Investment Management’s investment portfolio, making the stock its 24th largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of Toast by 120.4% in the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after acquiring an additional 378 shares during the last quarter. Piscataqua Savings Bank bought a new stake in shares of Toast in the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Toast in the 4th quarter valued at about $34,000. SBI Securities Co. Ltd. bought a new stake in shares of Toast in the 4th quarter valued at about $35,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Toast in the 4th quarter valued at about $40,000. Institutional investors own 82.91% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on TOST shares. Oppenheimer started coverage on Toast in a report on Friday, January 24th. They set an “outperform” rating and a $46.00 price target on the stock. Wells Fargo & Company boosted their price target on Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price target on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a report on Thursday, February 20th. Morgan Stanley boosted their price target on Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. boosted their price target on Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.48.

Toast Stock Down 1.9 %

Toast stock opened at $35.20 on Monday. The company has a market capitalization of $17.39 billion, a P/E ratio of -3,516.78, a PEG ratio of 2.16 and a beta of 1.99. The stock’s 50 day moving average is $37.82 and its 200 day moving average is $35.15. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12.

Toast (NYSE:TOST) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. As a group, equities analysts expect 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 the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $81,320.76. Following the transaction, the chief financial officer now directly owns 160,498 shares of the company’s stock, valued at approximately $6,360,535.74. This represents a 1.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 1,068 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were 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 in the company, valued at $65,177,717.28. This trade represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 270,770 shares of company stock valued at $9,409,211. 13.32% of the stock is owned by corporate insiders.

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.