Toast, Inc. (NYSE:TOST) Shares Purchased by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC boosted its position in Toast, Inc. (NYSE:TOST) by 1,633.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 191,441 shares of the company’s stock after acquiring an additional 180,400 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Toast were worth $6,978,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Toth Financial Advisory Corp acquired a new position in shares of Toast during the third quarter valued at approximately $28,000. Raleigh Capital Management Inc. lifted its stake in Toast by 93.4% during the third quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock valued at $42,000 after purchasing an additional 720 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Toast by 32.3% during the third quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock worth $58,000 after buying an additional 496 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Toast in the third quarter worth approximately $59,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Toast during the 3rd quarter valued at $65,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Down 1.7 %

Shares of NYSE TOST traded down $0.59 during midday trading on Monday, hitting $35.11. The stock had a trading volume of 4,948,691 shares, compared to its average volume of 4,824,102. Toast, Inc. has a 52 week low of $16.13 and a 52 week high of $44.12. The company has a market cap of $16.54 billion, a P/E ratio of -270.08, a PEG ratio of 23.40 and a beta of 1.97. The business’s 50 day moving average is $38.53 and its 200-day moving average is $30.64.

Wall Street Analyst Weigh In

TOST has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Bank of America lifted their price objective on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Compass Point started coverage on Toast in a research note on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price target for the company. Stephens lifted their target price on shares of Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, BMO Capital Markets began coverage on shares of Toast in a research note on Monday, January 6th. They set an “outperform” rating and a $45.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.05.

Insiders Place Their Bets

In related news, General Counsel Brian R. Elworthy sold 300,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.39, for a total value of $9,117,000.00. Following the completion of the transaction, the general counsel now owns 177,836 shares in the company, valued at $5,404,436.04. This trade represents a 62.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Stephen Fredette sold 40,459 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $29.04, for a total transaction of $1,174,929.36. Following the completion of the transaction, the president now owns 1,700,282 shares of the company’s stock, valued at approximately $49,376,189.28. This represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,109,307 shares of company stock valued at $38,235,613. 13.32% of the stock is owned by insiders.

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.