MML Investors Services LLC Lowers Position in Toast, Inc. (NYSE:TOST)

MML Investors Services LLC lessened its stake in Toast, Inc. (NYSE:TOST - Free Report) by 28.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,628 shares of the company's stock after selling 64,685 shares during the period. MML Investors Services LLC's holdings in Toast were worth $5,964,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new position in Toast in the fourth quarter valued at approximately $282,010,000. Norges Bank bought a new position in shares of Toast in the 4th quarter worth $205,888,000. FMR LLC boosted its position in shares of Toast by 22.1% in the 4th quarter. FMR LLC now owns 29,853,639 shares of the company's stock worth $1,088,165,000 after purchasing an additional 5,403,896 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Toast by 255.0% in the fourth quarter. Renaissance Technologies LLC now owns 3,504,212 shares of the company's stock valued at $127,729,000 after purchasing an additional 2,517,012 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TOST shares. JPMorgan Chase & Co. boosted their target price on Toast from $36.00 to $42.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods upped their target price on shares of Toast from $40.00 to $42.00 and gave the company a "market perform" rating in a research note on Thursday, February 20th. UBS Group lifted their price target on shares of Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Oppenheimer started coverage on shares of Toast in a research report on Friday, January 24th. They issued an "outperform" rating and a $46.00 price objective for the company. Finally, BMO Capital Markets lifted their target price on Toast from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. 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 stock has an average rating of "Hold" and a consensus price target of $40.26.

Insider Activity

In other news, General Counsel Brian R. Elworthy sold 653 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the transaction, the general counsel now directly owns 209,206 shares of the company's stock, valued at $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Stephen Fredette sold 70,340 shares of the 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 completion of the transaction, the president now owns 1,574,316 shares in the company, valued at approximately $53,322,082.92. This represents a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 340,770 shares of company stock worth $11,803,911 in the last quarter. 13.32% of the stock is owned by corporate insiders.

Toast Trading Down 1.8 %

Shares of NYSE:TOST traded down $0.66 during trading on Wednesday, reaching $35.56. 1,714,843 shares of the stock were exchanged, compared to its average volume of 6,816,399. The stock has a 50-day moving average price of $34.68 and a 200-day moving average price of $36.46. The firm has a market cap of $17.56 billion, a PE ratio of -3,545.05, a PEG ratio of 2.16 and a beta of 2.00. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $44.12.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. On average, sell-side analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

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.