Miracle Mile Advisors LLC Takes $274,000 Position in Toast, Inc. (NYSE:TOST)

Miracle Mile Advisors LLC bought a new position in shares of Toast, Inc. (NYSE:TOST) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,000 shares of the company’s stock, valued at approximately $274,000.

Several other institutional investors also recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its position in Toast by 306.0% during the third quarter. Envestnet Asset Management Inc. now owns 262,968 shares of the company’s stock worth $4,925,000 after purchasing an additional 198,192 shares during the period. Invesco Ltd. lifted its position in Toast by 129.4% during the 3rd quarter. Invesco Ltd. now owns 704,621 shares of the company’s stock worth $13,198,000 after acquiring an additional 397,490 shares during the last quarter. Hsbc Holdings PLC lifted its position in Toast by 1.7% during the 3rd quarter. Hsbc Holdings PLC now owns 51,056 shares of the company’s stock worth $956,000 after acquiring an additional 855 shares during the last quarter. Mariner LLC grew its position in shares of Toast by 19.9% in the third quarter. Mariner LLC now owns 42,259 shares of the company’s stock valued at $792,000 after purchasing an additional 7,022 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Toast by 12.9% in the third quarter. Northern Trust Corp now owns 2,160,008 shares of the company’s stock worth $40,457,000 after purchasing an additional 247,484 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TOST. Robert W. Baird downgraded Toast from an “outperform” rating to a “neutral” rating and set a $28.00 target price for the company. in a research note on Tuesday, May 21st. Mizuho upped their target price on shares of Toast from $17.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Royal Bank of Canada boosted their price objective on shares of Toast from $23.00 to $27.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 8th. Wells Fargo & Company lifted their target price on Toast from $17.00 to $19.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 8th. Finally, Wedbush reiterated an “outperform” rating and issued a $30.00 price objective on shares of Toast in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $26.14.

Toast Stock Performance

Shares of NYSE:TOST opened at $25.46 on Tuesday. The business has a fifty day moving average of $24.58 and a 200-day moving average of $22.14. The firm has a market cap of $11.53 billion, a PE ratio of -50.92 and a beta of 1.76. Toast, Inc. has a twelve month low of $13.77 and a twelve month high of $27.90.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.15). Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the business earned ($0.16) earnings per share. Toast’s quarterly revenue was up 31.3% on a year-over-year basis. On average, analysts anticipate that Toast, Inc. will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Toast news, insider James Michael Matlock sold 4,151 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $23.19, for a total transaction of $96,261.69. Following the transaction, the insider now directly owns 46,510 shares in the company, valued at approximately $1,078,566.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Toast news, CFO Elena Gomez sold 12,500 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total value of $329,875.00. Following the transaction, the chief financial officer now owns 176,980 shares of the company’s stock, valued at $4,670,502.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider James Michael Matlock sold 4,151 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $23.19, for a total value of $96,261.69. Following the transaction, the insider now owns 46,510 shares of the company’s stock, valued at $1,078,566.90. The disclosure for this sale can be found here. Insiders sold a total of 197,449 shares of company stock worth $4,817,383 over the last three months. 13.32% of the stock is currently owned by company 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.