Toast, Inc. (NYSE:TOST) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Toast, Inc. (NYSE:TOST) by 19.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 22,751 shares of the company’s stock after purchasing an additional 3,713 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Toast were worth $829,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Toast by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares during the period. Capital International Investors grew its position in Toast by 1.9% during the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock worth $1,529,657,000 after purchasing an additional 785,641 shares during the period. FMR LLC grew its position in Toast by 22.1% during the 4th quarter. FMR LLC now owns 29,853,639 shares of the company’s stock worth $1,088,165,000 after purchasing an additional 5,403,896 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Toast during the 4th quarter worth about $282,010,000. Finally, Geode Capital Management LLC grew its position in Toast by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company’s stock worth $256,970,000 after purchasing an additional 195,805 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on TOST. Evercore ISI began coverage on Toast in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $29.00 price target for the company. DA Davidson cut their price target on Toast from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. The Goldman Sachs Group cut their price target on Toast from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. BNP Paribas set a $37.00 price target on Toast and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Wolfe Research upgraded Toast from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research note on Wednesday, April 23rd. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.21.

Toast Price Performance

Shares of Toast stock opened at $43.46 on Tuesday. The stock has a market cap of $21.64 billion, a P/E ratio of -4,341.66, a P/E/G ratio of 2.16 and a beta of 2.02. The stock’s 50 day simple moving average is $38.12 and its 200-day simple moving average is $37.99. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $45.56.

Insider Transactions at Toast

In other news, Director Deval L. Patrick sold 34,222 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the transaction, the director now directly owns 13,260 shares in the company, valued at $437,712.60. The trade was a 72.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul D. Bell sold 11,000 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $45.13, for a total value of $496,430.00. Following the transaction, the director now owns 229,680 shares in the company, valued at $10,365,458.40. This trade represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 646,651 shares of company stock worth $25,640,334 in the last ninety days. Insiders own 13.32% of the company’s stock.

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.