Sei Investments Co. Boosts Holdings in Toast, Inc. (NYSE:TOST)

Sei Investments Co. lifted its holdings in Toast, Inc. (NYSE:TOST) by 48.3% in the fourth quarter, HoldingsChannel reports. The firm owned 818,357 shares of the company’s stock after buying an additional 266,471 shares during the quarter. Sei Investments Co.’s holdings in Toast were worth $29,829,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of Toast by 50.5% in the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after acquiring an additional 8,205,053 shares in the last quarter. ValueAct Holdings L.P. purchased a new stake in Toast during the 3rd quarter worth about $438,301,000. State Street Corp increased its holdings in Toast by 2.5% during the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after purchasing an additional 206,789 shares during the period. Geode Capital Management LLC raised its position in 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 purchasing an additional 155,212 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of 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 buying an additional 155,446 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TOST has been the topic of several analyst reports. UBS Group raised their target price on shares of Toast from $41.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Oppenheimer began coverage on shares of Toast in a research report on Friday, January 24th. They set an “outperform” rating and a $46.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Toast in a report on Thursday, February 20th. Morgan Stanley lifted their price target on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, BNP Paribas set a $37.00 price objective on Toast and gave the company a “neutral” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $40.48.

Insider Buying and Selling at Toast

In other news, General Counsel Brian R. Elworthy sold 653 shares of the company’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 $25,878.39. Following the transaction, the general counsel now directly owns 209,206 shares of the company’s stock, valued at $8,290,833.78. This represents a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Stephen Fredette sold 1,068 shares of the stock in a transaction dated 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 transaction, the president now owns 1,644,656 shares of the company’s stock, valued at $65,177,717.28. This represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 270,770 shares of company stock valued at $9,409,211. 13.32% of the stock is owned by corporate insiders.

Toast Trading Up 0.6 %

Shares of TOST stock opened at $36.38 on Wednesday. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12. The business’s 50 day moving average is $37.84 and its two-hundred day moving average is $35.23. The company has a market capitalization of $17.97 billion, a P/E ratio of -3,634.37, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST) last announced its quarterly earnings data 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 firm 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 analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal 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.