Nomura Holdings Inc. Raises Stake in Toast, Inc. (NYSE:TOST)

Nomura Holdings Inc. boosted its holdings in shares of Toast, Inc. (NYSE:TOST) by 290.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,399 shares of the company’s stock after acquiring an additional 152,010 shares during the period. Nomura Holdings Inc.’s holdings in Toast were worth $7,450,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Barclays PLC raised its holdings in Toast by 38.0% in the third quarter. Barclays PLC now owns 309,426 shares of the company’s stock worth $8,758,000 after buying an additional 85,171 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in Toast in the fourth quarter worth about $268,000. Mirador Capital Partners LP raised its holdings in Toast by 0.9% in the fourth quarter. Mirador Capital Partners LP now owns 41,938 shares of the company’s stock worth $1,529,000 after buying an additional 360 shares during the last quarter. Carnegie Investment Counsel bought a new stake in shares of Toast in the fourth quarter worth approximately $233,000. Finally, Merit Financial Group LLC bought a new stake in shares of Toast in the fourth quarter worth approximately $234,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Trading Up 2.0%

Shares of Toast stock opened at $44.85 on Thursday. Toast, Inc. has a 12-month low of $21.32 and a 12-month high of $45.56. The firm has a market capitalization of $22.31 billion, a price-to-earnings ratio of -4,480.52, a PEG ratio of 2.16 and a beta of 1.98. The firm’s 50 day simple moving average is $35.09 and its two-hundred day simple moving average is $37.10.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on TOST shares. Oppenheimer started coverage on shares of Toast in a research note on Friday, January 24th. They issued an “outperform” rating and a $46.00 price target for the company. Canaccord Genuity Group boosted their target price on shares of Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Evercore ISI assumed coverage on shares of Toast in a research report on Wednesday, April 9th. They set an “in-line” rating and a $29.00 target price for the company. Robert W. Baird boosted their target price on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Finally, Royal Bank of Canada upped their price target on shares of Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Toast currently has a consensus rating of “Hold” and a consensus price target of $40.91.

Insider Transactions at Toast

In related news, President Stephen Fredette sold 70,340 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the sale, the president now owns 1,574,316 shares in the company, valued at approximately $53,322,082.92. This trade represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher P. Comparato sold 70,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the sale, the director now owns 164,796 shares in the company, valued at approximately $5,884,865.16. This represents a 29.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 335,991 shares of company stock worth $11,614,520 over the last 90 days. 13.32% of the stock is currently owned by company 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.