O Shaughnessy Asset Management LLC Raises Position in Toast, Inc. (NYSE:TOST)

O Shaughnessy Asset Management LLC raised its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 81.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,049 shares of the company's stock after purchasing an additional 10,380 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Toast were worth $840,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Blue Trust Inc. grew its position in shares of Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company's stock worth $25,000 after purchasing an additional 378 shares in the last quarter. Piscataqua Savings Bank bought a new position in shares of Toast during the fourth quarter valued at $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of Toast in the fourth quarter valued at about $34,000. SBI Securities Co. Ltd. acquired a new position in shares of Toast in the 4th quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Toast during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 82.91% of the company's stock.

Toast Price Performance

Shares of NYSE TOST traded up $0.72 during trading on Friday, reaching $34.08. 4,861,718 shares of the stock traded hands, compared to its average volume of 6,814,099. The company has a 50-day moving average of $36.10 and a 200-day moving average of $35.91. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The stock has a market capitalization of $16.83 billion, a P/E ratio of -3,404.30, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00.

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Toast (NYSE:TOST - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.32 billion. Analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. UBS Group upped their price objective on shares of Toast from $41.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. raised their price objective on Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Morgan Stanley upped their target price on Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Oppenheimer started coverage on shares of Toast in a research note on Friday, January 24th. They set an "outperform" rating and a $46.00 price target for the company. Finally, Royal Bank of Canada upped their target price on shares of Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $40.27.

Insider Activity at Toast

In other news, CRO Jonathan Vassil sold 1,006 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $39,867.78. Following the transaction, the executive now owns 48,488 shares of the company's stock, valued at $1,921,579.44. This represents a 2.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Fredette sold 70,340 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the completion of the transaction, the president now owns 1,574,316 shares of the company's stock, valued at $53,322,082.92. This trade represents a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 270,770 shares of company stock worth $9,409,211. 13.32% of the stock is owned by company 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.