Miracle Mile Advisors LLC Buys New Position in Toast, Inc. (NYSE:TOST)

Miracle Mile Advisors LLC bought a new stake in shares of Toast, Inc. (NYSE:TOST) in the first quarter, Holdings Channel.com reports. The fund bought 11,000 shares of the company’s stock, valued at approximately $274,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. bought a new position in Toast during the fourth quarter worth $30,000. Cape Investment Advisory Inc. bought a new position in shares of Toast in the 4th quarter worth about $31,000. SRS Capital Advisors Inc. acquired a new position in shares of Toast in the 3rd quarter valued at about $33,000. Harbor Investment Advisory LLC bought a new stake in shares of Toast during the 1st quarter valued at about $37,000. Finally, Baystate Wealth Management LLC grew its stake in Toast by 58.2% during the fourth quarter. Baystate Wealth Management LLC now owns 2,435 shares of the company’s stock worth $44,000 after purchasing an additional 896 shares during the period. Institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In other Toast news, CFO Elena Gomez sold 12,500 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total value of $329,875.00. Following the sale, the chief financial officer now directly owns 176,980 shares in the company, valued at $4,670,502.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Toast news, CRO Jonathan Vassil sold 50,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the sale, the executive now owns 25,422 shares of the company’s stock, valued at approximately $582,163.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elena Gomez sold 12,500 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total value of $329,875.00. Following the completion of the transaction, the chief financial officer now directly owns 176,980 shares of the company’s stock, valued at $4,670,502.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,449 shares of company stock valued at $4,817,383. Company insiders own 13.32% of the company’s stock.

Toast Price Performance

Shares of Toast stock opened at $25.46 on Tuesday. The stock has a fifty day moving average price of $24.58 and a 200-day moving average price of $22.14. The firm has a market cap of $11.53 billion, a PE ratio of -50.92 and a beta of 1.76. Toast, Inc. has a 1 year low of $13.77 and a 1 year high of $27.90.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.15). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The firm’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.16) earnings per share. As a group, equities analysts anticipate that Toast, Inc. will post -0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

TOST has been the topic of several recent analyst reports. Mizuho boosted their price target on Toast from $17.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Baird R W downgraded Toast from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Royal Bank of Canada increased their price target on Toast from $23.00 to $27.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 8th. UBS Group upped their target price on Toast from $22.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Finally, Stephens reissued an “equal weight” rating and issued a $28.00 price target on shares of Toast in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.14.

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.