Empowered Funds LLC Buys 155,013 Shares of Toast, Inc. (NYSE:TOST)

Empowered Funds LLC raised its stake in Toast, Inc. (NYSE:TOST) by 194.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,707 shares of the company’s stock after buying an additional 155,013 shares during the period. Empowered Funds LLC’s holdings in Toast were worth $8,555,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TOST. American Capital Advisory LLC boosted its holdings in shares of Toast by 2,420.1% during the 4th quarter. American Capital Advisory LLC now owns 13,407 shares of the company’s stock valued at $489,000 after acquiring an additional 12,875 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in Toast in the fourth quarter valued at about $2,489,000. Fairvoy Private Wealth LLC acquired a new stake in shares of Toast during the fourth quarter valued at about $963,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Toast by 0.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company’s stock worth $1,408,000 after purchasing an additional 301 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in shares of Toast in the fourth quarter valued at approximately $342,000. Institutional investors own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TOST shares. The Goldman Sachs Group cut their target price on shares of Toast from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Wedbush boosted their price objective on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. DA Davidson restated a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Toast in a report on Thursday, December 5th. Royal Bank of Canada lifted their target price on Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Finally, 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. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $36.09.

Toast Stock Performance

Shares of NYSE:TOST opened at $41.21 on Monday. Toast, Inc. has a 52-week low of $18.47 and a 52-week high of $44.12. The business’s 50 day simple moving average is $38.39 and its two-hundred day simple moving average is $32.50. The firm has a market cap of $19.41 billion, a P/E ratio of -316.96, a PEG ratio of 2.25 and a beta of 1.98.

Toast (NYSE:TOST) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the firm posted ($0.09) EPS. On average, equities analysts forecast that Toast, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In other Toast news, CFO Elena Gomez sold 2,052 shares of Toast stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $81,320.76. Following the transaction, the chief financial officer now directly owns 160,498 shares of the company’s stock, valued at $6,360,535.74. The trade was a 1.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $42,324.84. Following the completion of the sale, the president now owns 1,644,656 shares of the company’s stock, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 462,449 shares of company stock worth $18,205,099 over the last three months. 13.32% of the stock is currently owned by insiders.

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.