Envestnet Portfolio Solutions Inc. Increases Position in Toast, Inc. (NYSE:TOST)

Envestnet Portfolio Solutions Inc. boosted its position in Toast, Inc. (NYSE:TOST) by 6.6% in the 4th quarter, Holdings Channel reports. The fund owned 19,967 shares of the company’s stock after purchasing an additional 1,236 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Toast were worth $728,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Toast by 0.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company’s stock valued at $1,408,000 after purchasing an additional 301 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Toast by 11.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company’s stock worth $125,000 after buying an additional 358 shares during the last quarter. Mirador Capital Partners LP grew its holdings in Toast by 0.9% in the 4th quarter. Mirador Capital Partners LP now owns 41,938 shares of the company’s stock valued at $1,529,000 after buying an additional 360 shares during the period. Blue Trust Inc. increased its stake in shares of Toast by 120.4% during 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. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Toast by 19.8% during the 4th quarter. Farther Finance Advisors LLC now owns 2,435 shares of the company’s stock worth $89,000 after acquiring an additional 402 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Toast

In other Toast news, President Stephen Fredette sold 1,068 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the completion of the sale, the president now owns 1,644,656 shares in the company, valued at $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the transaction, the general counsel now owns 209,206 shares in the company, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 270,770 shares of company stock valued at $9,409,211. Insiders own 13.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on TOST. Morgan Stanley upped their price target on shares of Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Canaccord Genuity Group increased their target price on Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. UBS Group boosted their price target on Toast from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. BNP Paribas set a $37.00 price objective on Toast and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, DA Davidson reiterated a “neutral” rating and set a $38.00 target price (down previously from $44.00) on shares of Toast in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $40.48.

Toast Stock Performance

Shares of TOST opened at $36.16 on Tuesday. Toast, Inc. has a one year low of $21.32 and a one year high of $44.12. The stock has a 50-day moving average price of $37.84 and a 200 day moving average price of $35.23. The company has a market capitalization of $17.86 billion, a P/E ratio of -3,612.09, a P/E/G ratio of 2.16 and a beta of 1.99.

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

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.