Nuveen Asset Management LLC Acquires 250,851 Shares of Toast, Inc. (NYSE:TOST)

Nuveen Asset Management LLC boosted its position in shares of Toast, Inc. (NYSE:TOST) by 24.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,294,017 shares of the company’s stock after acquiring an additional 250,851 shares during the period. Nuveen Asset Management LLC’s holdings in Toast were worth $47,167,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in Toast by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock valued at $107,108,000 after purchasing an additional 155,446 shares during the period. Jupiter Asset Management Ltd. increased its holdings in Toast by 134.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company’s stock worth $14,319,000 after purchasing an additional 225,215 shares during the period. New York Life Investment Management LLC purchased a new position in Toast during the 4th quarter worth $1,572,000. Forsta AP Fonden increased its holdings in Toast by 191.4% during the 4th quarter. Forsta AP Fonden now owns 234,300 shares of the company’s stock worth $8,540,000 after purchasing an additional 153,900 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in Toast during the 4th quarter valued at $83,684,000. 82.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TOST has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Toast in a research report on Thursday, February 20th. BNP Paribas set a $37.00 price target on Toast and gave the company a “neutral” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upped their price target on Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. BMO Capital Markets upped their price target on Toast from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, May 12th. Finally, Piper Sandler upped their price target on Toast from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.91.

Toast Stock Performance

Shares of TOST opened at $44.68 on Tuesday. The stock has a fifty day moving average of $35.75 and a two-hundred day moving average of $37.51. The company has a market capitalization of $22.25 billion, a PE ratio of -4,463.54, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $45.56.

Toast (NYSE:TOST) last issued its quarterly 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). The business 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%. As a group, equities research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Toast

In other news, Director Christopher P. Comparato sold 70,000 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the completion of the sale, the director now directly owns 164,796 shares in the company, valued at $5,884,865.16. This represents a 29.81% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 value of $2,382,415.80. Following the sale, the president now owns 1,574,316 shares of the company’s stock, valued at approximately $53,322,082.92. The trade was 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 sold 416,991 shares of company stock worth $15,242,750. Insiders own 13.32% of the company’s stock.

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.