Pictet Asset Management Holding SA Grows Holdings in Toast, Inc. (NYSE:TOST)

Pictet Asset Management Holding SA lifted its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 33.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,843 shares of the company's stock after buying an additional 43,067 shares during the period. Pictet Asset Management Holding SA's holdings in Toast were worth $6,300,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TOST. Blue Trust Inc. lifted its stake in Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company's stock valued at $25,000 after acquiring an additional 378 shares during the period. Piscataqua Savings Bank acquired a new position in Toast during the fourth quarter valued at $26,000. Stonebridge Financial Group LLC acquired a new position in Toast during the fourth quarter valued at $34,000. SBI Securities Co. Ltd. purchased a new stake in Toast in the fourth quarter valued at $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Toast during the 4th quarter worth about $40,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Price Performance

TOST traded down $0.93 on Tuesday, reaching $29.77. 6,761,704 shares of the company's stock were exchanged, compared to its average volume of 6,797,947. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12. The stock has a market cap of $14.71 billion, a PE ratio of -2,974.33, a P/E/G ratio of 2.16 and a beta of 2.00. The stock's fifty day moving average price is $36.60 and its 200-day moving average price is $35.79.

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Toast (NYSE:TOST - Get Free Report) last issued 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 company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. As a group, research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Canaccord Genuity Group upped their target price on Toast from $43.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price objective on shares of Toast in a research note on Thursday, February 20th. Royal Bank of Canada boosted their target price on shares of Toast from $40.00 to $45.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. UBS Group increased their price target on shares of Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, BNP Paribas set a $37.00 price objective on shares of Toast and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $40.38.

Insiders Place Their Bets

In related news, President Stephen Fredette sold 1,068 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the completion of the transaction, the president now directly owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Brian R. Elworthy sold 653 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 value of $25,878.39. Following the completion of the sale, the general counsel now owns 209,206 shares in the company, valued at $8,290,833.78. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,770 shares of company stock valued at $9,409,211 in the last three months. 13.32% of the stock is currently owned by insiders.

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.