Miracle Mile Advisors LLC Buys 180,400 Shares of Toast, Inc. (NYSE:TOST)

Miracle Mile Advisors LLC raised its stake in Toast, Inc. (NYSE:TOST) by 1,633.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 191,441 shares of the company’s stock after purchasing an additional 180,400 shares during the period. Miracle Mile Advisors LLC’s holdings in Toast were worth $6,978,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TOST. Victory Capital Management Inc. increased its holdings in shares of Toast by 3.4% in the second quarter. Victory Capital Management Inc. now owns 49,002 shares of the company’s stock worth $1,263,000 after acquiring an additional 1,611 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Toast in the 2nd quarter valued at $714,000. Los Angeles Capital Management LLC acquired a new stake in shares of Toast in the 2nd quarter valued at approximately $221,000. Acadian Asset Management LLC bought a new position in shares of Toast in the 2nd quarter valued at $364,000. Finally, Daiwa Securities Group Inc. raised its position in Toast by 44.6% in the second quarter. Daiwa Securities Group Inc. now owns 48,972 shares of the company’s stock valued at $1,262,000 after purchasing an additional 15,100 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analyst Ratings Changes

TOST has been the subject of a number of analyst reports. DA Davidson reiterated a “neutral” rating and set a $38.00 price target (down previously from $44.00) on shares of Toast in a research note on Thursday, December 5th. BNP Paribas cut Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Wednesday, November 20th. The Goldman Sachs Group lowered their price objective on Toast from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday. Robert W. Baird boosted their target price on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada lifted their price target on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.05.

Toast Stock Down 1.7 %

Shares of Toast stock traded down $0.59 during trading on Monday, reaching $35.11. The company’s stock had a trading volume of 4,948,691 shares, compared to its average volume of 4,824,102. The company has a 50-day simple moving average of $38.53 and a two-hundred day simple moving average of $30.64. Toast, Inc. has a 1-year low of $16.13 and a 1-year high of $44.12. The company has a market cap of $16.54 billion, a price-to-earnings ratio of -270.08, a P/E/G ratio of 23.40 and a beta of 1.97.

Insider Activity at Toast

In related news, CEO Aman Narang sold 1,646 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $31.08, for a total transaction of $51,157.68. Following the completion of the transaction, the chief executive officer now directly owns 969,970 shares of the company’s stock, valued at $30,146,667.60. The trade was a 0.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Stephen Fredette sold 40,459 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $29.04, for a total value of $1,174,929.36. Following the transaction, the president now directly owns 1,700,282 shares of the company’s stock, valued at approximately $49,376,189.28. This represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,109,307 shares of company stock worth $38,235,613. 13.32% of the stock is owned by corporate 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.