Mirae Asset Global Investments Co. Ltd. Has $7.62 Million Position in Toast, Inc. (NYSE:TOST)

Mirae Asset Global Investments Co. Ltd. cut its position in Toast, Inc. (NYSE:TOST) by 4.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 417,486 shares of the company’s stock after selling 18,128 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.10% of Toast worth $7,623,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baystate Wealth Management LLC acquired a new position in shares of Toast in the 3rd quarter valued at approximately $29,000. BluePath Capital Management LLC acquired a new position in shares of Toast in the 3rd quarter valued at approximately $30,000. PNC Financial Services Group Inc. increased its position in Toast by 277.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,710 shares of the company’s stock worth $31,000 after purchasing an additional 1,257 shares in the last quarter. SRS Capital Advisors Inc. acquired a new position in Toast during the 3rd quarter worth approximately $33,000. Finally, Larson Financial Group LLC increased its position in Toast by 8,181.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,822 shares of the company’s stock worth $34,000 after purchasing an additional 1,800 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider James Michael Matlock sold 4,151 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $18.20, for a total transaction of $75,548.20. Following the transaction, the insider now directly owns 39,733 shares of the company’s stock, valued at $723,140.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Toast news, General Counsel Brian R. Elworthy sold 224,900 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $18.37, for a total value of $4,131,413.00. Following the transaction, the general counsel now directly owns 160,340 shares of the company’s stock, valued at $2,945,445.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Michael Matlock sold 4,151 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $18.20, for a total transaction of $75,548.20. Following the completion of the transaction, the insider now directly owns 39,733 shares in the company, valued at $723,140.60. The disclosure for this sale can be found here. Insiders have sold a total of 364,747 shares of company stock valued at $7,517,515 over the last ninety days. 13.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TOST has been the subject of a number of research analyst reports. Evercore ISI initiated coverage on shares of Toast in a research report on Monday, March 4th. They set an “outperform” rating and a $32.00 price objective for the company. Keefe, Bruyette & Woods initiated coverage on shares of Toast in a research report on Tuesday, April 9th. They set a “market perform” rating and a $25.00 price objective for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $23.00 price objective on shares of Toast in a research report on Thursday. The Goldman Sachs Group upgraded shares of Toast from a “neutral” rating to a “buy” rating and upped their price target for the company from $16.00 to $24.00 in a research report on Wednesday, January 10th. Finally, Piper Sandler upped their price target on shares of Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $23.53.

Toast Stock Performance

NYSE:TOST opened at $23.82 on Friday. The firm’s fifty day moving average is $22.73 and its 200-day moving average is $18.90. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $27.00. The firm has a market cap of $10.41 billion, a P/E ratio of -46.71 and a beta of 1.79.

Toast (NYSE:TOST) last issued its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. Toast’s revenue was up 34.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) earnings per share. As a group, sell-side analysts anticipate that Toast, Inc. will post -0.22 earnings per share for the current year.

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.