Daiwa Securities Group Inc. Increases Stake in Toast, Inc. (NYSE:TOST)

Daiwa Securities Group Inc. grew its stake in Toast, Inc. (NYSE:TOST) by 4.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 59,672 shares of the company’s stock after buying an additional 2,700 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Toast were worth $2,175,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Makena Capital Management LLC boosted its stake in shares of Toast by 7.6% in the 3rd quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock valued at $7,768,000 after buying an additional 19,371 shares during the period. KBC Group NV boosted its stake in shares of Toast by 66.5% in the 3rd quarter. KBC Group NV now owns 42,838 shares of the company’s stock valued at $1,213,000 after buying an additional 17,106 shares during the period. Geode Capital Management LLC boosted its stake in shares of Toast by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after buying an additional 155,212 shares during the period. MML Investors Services LLC boosted its stake in shares of Toast by 40.6% in the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock valued at $6,464,000 after buying an additional 65,957 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Toast by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock worth $107,108,000 after purchasing an additional 155,446 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Trading Up 5.5 %

NYSE:TOST opened at $34.41 on Friday. The firm has a market cap of $17.00 billion, a P/E ratio of -3,437.06, a PEG ratio of 2.16 and a beta of 1.99. The stock’s 50 day simple moving average is $38.12 and its 200-day simple moving average is $34.56. Toast, Inc. has a 12-month low of $21.32 and a 12-month high of $44.12.

Toast (NYSE:TOST) last released its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Research analysts forecast that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BNP Paribas set a $37.00 target price on Toast and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Compass Point assumed coverage on Toast in a research note on Wednesday, November 20th. They set a “buy” rating and a $49.00 target price for the company. Robert W. Baird boosted their target price on Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Morgan Stanley boosted their target price on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company boosted their target price on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.48.

Insider Buying and Selling

In related news, CFO Elena Gomez sold 2,052 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $81,320.76. Following the transaction, the chief financial officer now owns 160,498 shares of the company’s stock, valued at $6,360,535.74. This represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Stephen Fredette sold 1,068 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the transaction, the president now directly owns 1,644,656 shares in the company, valued at $65,177,717.28. This represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,641 shares of company stock valued at $8,937,776 over the last quarter. Company insiders own 13.32% of the company’s stock.

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.