Los Angeles Capital Management LLC Makes New $16.52 Million Investment in Toast, Inc. (NYSE:TOST)

Los Angeles Capital Management LLC purchased a new position in Toast, Inc. (NYSE:TOST) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 453,263 shares of the company’s stock, valued at approximately $16,521,000. Los Angeles Capital Management LLC owned approximately 0.10% of Toast as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after purchasing an additional 378 shares during the last quarter. Piscataqua Savings Bank purchased a new position in shares of Toast in the fourth quarter worth about $26,000. Stonebridge Financial Group LLC purchased a new position in shares of Toast in the fourth quarter worth about $34,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Toast in the fourth quarter worth about $40,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Toast in the fourth quarter worth about $42,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Down 2.8 %

Shares of NYSE TOST opened at $36.13 on Wednesday. The company’s 50-day simple moving average is $38.53 and its 200-day simple moving average is $33.77. Toast, Inc. has a 52-week low of $21.02 and a 52-week high of $44.12. The firm has a market cap of $17.02 billion, a price-to-earnings ratio of -3,609.79, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98.

Toast (NYSE:TOST) last announced its earnings results 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 company 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%. Equities research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Insider Transactions at Toast

In other news, CRO Jonathan Vassil sold 1,006 shares of the firm’s stock in a transaction dated 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 directly owns 48,488 shares of the company’s stock, valued at approximately $1,921,579.44. This trade represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the transaction, the general counsel now directly owns 209,206 shares in the company, valued at approximately $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 149,779 shares of company stock valued at $5,415,192. Corporate insiders own 13.32% of the company’s stock.

Analysts Set New Price Targets

TOST has been the subject of several research analyst reports. Oppenheimer initiated coverage on Toast in a research note on Friday, January 24th. They issued an “outperform” rating and a $46.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a research note on Thursday, February 20th. Morgan Stanley raised their price objective on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Wedbush lifted their price target on Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Compass Point initiated coverage on Toast in a research report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price target for the company. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.09.

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.