Hussman Strategic Advisors Inc. Invests $2.30 Million in Toast, Inc. (NYSE:TOST)

Hussman Strategic Advisors Inc. acquired a new position in Toast, Inc. (NYSE:TOST) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 63,000 shares of the company’s stock, valued at approximately $2,296,000.

A number of other large investors have also recently made changes to their positions in the business. FMR LLC grew its position in shares of Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after buying an additional 8,205,053 shares during the last quarter. ValueAct Holdings L.P. purchased a new position in shares of Toast in the 3rd quarter valued at approximately $438,301,000. State Street Corp lifted its stake in shares of Toast by 2.5% in the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company’s stock valued at $235,689,000 after purchasing an additional 206,789 shares during the period. Geode Capital Management LLC lifted its stake in shares of Toast by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after purchasing an additional 155,212 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Toast by 2,889.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock valued at $108,427,000 after purchasing an additional 3,701,893 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director David Yuan sold 189,785 shares of Toast stock in a transaction on Monday, November 25th. The stock was sold at an average price of $43.01, for a total value of $8,162,652.85. Following the completion of the sale, the director now owns 198,829 shares of the company’s stock, valued at $8,551,635.29. The trade was a 48.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Brian R. Elworthy sold 653 shares of Toast stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the sale, the general counsel now directly owns 209,206 shares of the company’s stock, valued at $8,290,833.78. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 339,564 shares of company stock valued at $13,577,845 over the last 90 days. Company insiders own 13.32% of the company’s stock.

Toast Stock Performance

TOST stock opened at $40.10 on Thursday. Toast, Inc. has a 1-year low of $20.49 and a 1-year high of $44.12. The business has a fifty day moving average price of $38.59 and a 200-day moving average price of $33.30.

Toast (NYSE:TOST) last posted 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). Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%. On average, equities analysts predict that Toast, Inc. will post 0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Oppenheimer assumed coverage on Toast in a research note on Friday, January 24th. They issued an “outperform” rating and a $46.00 target price for the company. Keefe, Bruyette & Woods raised their target price on Toast from $29.00 to $40.00 and gave the company a “market perform” rating in a research note on Monday, December 9th. DA Davidson restated a “neutral” rating and issued a $38.00 target price (down previously from $44.00) on shares of Toast in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised their target price on Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada lifted their price objective on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Toast presently has an average rating of “Hold” and an average target price of $36.09.

Toast Company 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.