Sheets Smith Wealth Management Invests $674,000 in Toast, Inc. (NYSE:TOST)

Sheets Smith Wealth Management purchased a new stake in Toast, Inc. (NYSE:TOST) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 18,498 shares of the company’s stock, valued at approximately $674,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its position in Toast by 50.5% in the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after buying an additional 8,205,053 shares in the last quarter. ValueAct Holdings L.P. acquired a new stake in shares of Toast during the 3rd quarter valued at $438,301,000. State Street Corp grew its position in Toast by 2.5% during the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after acquiring an additional 206,789 shares during the last quarter. Geode Capital Management LLC increased its holdings in Toast by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after purchasing an additional 155,212 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Toast by 2,889.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock valued at $108,427,000 after purchasing an additional 3,701,893 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Toast Trading Up 0.2 %

Shares of NYSE:TOST opened at $38.74 on Thursday. Toast, Inc. has a 52-week low of $16.13 and a 52-week high of $44.12. The business’s 50 day simple moving average is $38.87 and its two-hundred day simple moving average is $31.25.

Toast (NYSE:TOST) last issued its earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the business earned ($0.09) EPS. On average, research analysts expect that Toast, Inc. will post 0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TOST shares. The Goldman Sachs Group reduced their price target on Toast from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Robert W. Baird upped their price target on shares of Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Royal Bank of Canada lifted their price target on shares of Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Keefe, Bruyette & Woods increased their price objective on Toast from $29.00 to $40.00 and gave the company a “market perform” rating in a report on Monday, December 9th. Finally, Morgan Stanley lifted their target price on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.27.

Insider Transactions at Toast

In other Toast news, CRO Jonathan Vassil sold 1,367 shares of Toast stock in a transaction on Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $42,486.36. Following the transaction, the executive now directly owns 39,834 shares of the company’s stock, valued at $1,238,040.72. The trade was a 3.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher P. Comparato sold 145,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the completion of the sale, the director now owns 182,451 shares of the company’s stock, valued at approximately $6,575,534.04. This represents a 44.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 562,600 shares of company stock valued at $21,823,932 over the last three months. Corporate insiders own 13.32% of the company’s stock.

About Toast

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.