Miracle Mile Advisors LLC Buys 383 Shares of Toast, Inc. (NYSE:TOST)

Miracle Mile Advisors LLC raised its stake in shares of Toast, Inc. (NYSE:TOST) by 0.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 191,824 shares of the company’s stock after acquiring an additional 383 shares during the period. Miracle Mile Advisors LLC’s holdings in Toast were worth $6,363,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in shares of Toast by 120.4% in the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after purchasing an additional 378 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of Toast in the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. bought a new position in shares of Toast in the 4th quarter worth approximately $35,000. Wingate Wealth Advisors Inc. bought a new position in shares of Toast in the 4th quarter worth approximately $40,000. Finally, Piscataqua Savings Bank lifted its stake in shares of Toast by 57.1% in the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company’s stock worth $36,000 after purchasing an additional 400 shares during the period. Institutional investors own 82.91% of the company’s stock.

Insider Activity

In other news, President Stephen Fredette sold 47,073 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $35.03, for a total transaction of $1,648,967.19. Following the completion of the transaction, the president now owns 1,491,773 shares of the company’s stock, valued at $52,256,808.19. This represents a 3.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $42.60, for a total transaction of $12,780,000.00. Following the transaction, the general counsel now directly owns 216,156 shares of the company’s stock, valued at approximately $9,208,245.60. This represents a 58.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 646,651 shares of company stock valued at $25,640,334 in the last 90 days. 13.32% of the stock is currently owned by insiders.

Toast Price Performance

NYSE TOST opened at $44.06 on Friday. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $45.56. The company has a 50-day moving average of $37.97 and a 200-day moving average of $38.02. The company has a market cap of $21.94 billion, a P/E ratio of -4,401.60, a P/E/G ratio of 2.16 and a beta of 2.02.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of Toast from $43.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. BNP Paribas set a $37.00 price objective on shares of Toast and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Wolfe Research upgraded Toast from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Wednesday, April 23rd. BMO Capital Markets lifted their price objective on Toast from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, May 12th. Finally, Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Toast in a report on Thursday, February 20th. Twelve research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.21.

About Toast

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.