Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in Toast, Inc. (NYSE:TOST)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Toast, Inc. (NYSE:TOST) by 43.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 169,429 shares of the company’s stock after purchasing an additional 51,617 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Toast were worth $6,176,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. ValueAct Holdings L.P. acquired a new position in Toast in the 3rd quarter worth $438,301,000. FMR LLC lifted its stake in shares of Toast by 50.5% in the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after acquiring an additional 8,205,053 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Toast by 129,058.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company’s stock valued at $75,466,000 after purchasing an additional 2,072,680 shares during the last quarter. Perpetual Ltd purchased a new position in Toast in the fourth quarter valued at about $60,878,000. Finally, Worldquant Millennium Advisors LLC grew its stake in Toast by 1,475.0% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company’s stock valued at $24,091,000 after purchasing an additional 796,936 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 70,340 shares of the company’s stock in a transaction dated 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 completion of the sale, the president now directly owns 1,574,316 shares of the company’s stock, valued at approximately $53,322,082.92. This represents a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Deval L. Patrick sold 34,222 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the completion of the transaction, the director now owns 13,260 shares of the company’s stock, valued at approximately $437,712.60. The trade was a 72.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,641 shares of company stock valued at $8,937,776 over the last ninety days. Insiders own 13.32% of the company’s stock.

Toast Stock Performance

Shares of NYSE TOST opened at $34.41 on Friday. Toast, Inc. has a 1 year low of $21.32 and a 1 year high of $44.12. The stock has a fifty day moving average price of $38.12 and a two-hundred day moving average price of $34.56. The firm has a market cap of $17.00 billion, a P/E ratio of -3,437.06, a PEG ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST) last released its 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 return on equity of 1.54% and a net margin of 0.40%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. On average, research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on TOST. Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Toast in a research note on Thursday, February 20th. Royal Bank of Canada increased their price objective on shares of Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. The Goldman Sachs Group set a $40.00 target price on shares of Toast and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Robert W. Baird upped their target price on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Finally, BMO Capital Markets lifted their price target on Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Toast has a consensus rating of “Hold” and a consensus target price of $40.48.

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.