Exchange Traded Concepts LLC Buys 67,289 Shares of Toast, Inc. (NYSE:TOST)

Exchange Traded Concepts LLC lifted its stake in shares of Toast, Inc. (NYSE:TOST) by 131.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 118,546 shares of the company’s stock after acquiring an additional 67,289 shares during the period. Exchange Traded Concepts LLC’s holdings in Toast were worth $4,321,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp bought a new stake in Toast during the third quarter worth about $28,000. Raleigh Capital Management Inc. raised its holdings in shares of Toast by 93.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock valued at $42,000 after buying an additional 720 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Toast by 32.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock worth $58,000 after buying an additional 496 shares during the last quarter. Global Trust Asset Management LLC purchased a new stake in Toast in the fourth quarter worth approximately $58,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Toast during the third quarter valued at approximately $59,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Stock Performance

NYSE TOST opened at $39.33 on Friday. The stock’s 50 day moving average is $38.83 and its 200 day moving average is $31.41. Toast, Inc. has a twelve month low of $16.13 and a twelve month high of $44.12.

Toast (NYSE:TOST) last announced its earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. During the same quarter in the previous year, the business posted ($0.09) EPS. As a group, equities analysts predict that Toast, Inc. will post 0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TOST shares. Wedbush boosted their price target on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. BNP Paribas lowered Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Wednesday, November 20th. Morgan Stanley lifted their price target on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.74.

Insider Transactions at Toast

In other Toast news, Director David Yuan sold 189,785 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the completion of the sale, the director now directly owns 198,829 shares in the company, valued at approximately $8,551,635.29. The trade was a 48.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $5,225,800.00. Following the completion of the transaction, the director now directly owns 182,451 shares in the company, 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. Over the last three months, insiders have sold 562,600 shares of company stock valued at $21,823,932. 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.