Fmr LLC Grows Stock Holdings in Toast, Inc. (NYSE:TOST)

Fmr LLC boosted its stake in shares of Toast, Inc. (NYSE:TOST) by 22.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,853,639 shares of the company’s stock after acquiring an additional 5,403,896 shares during the quarter. Fmr LLC owned about 6.34% of Toast worth $1,088,165,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in TOST. Federated Hermes Inc. boosted its holdings in shares of Toast by 44.2% in the fourth quarter. Federated Hermes Inc. now owns 2,302,206 shares of the company’s stock valued at $83,965,000 after acquiring an additional 705,573 shares in the last quarter. Thames Capital Management LLC purchased a new stake in Toast in the 4th quarter valued at approximately $4,433,000. Atika Capital Management LLC acquired a new position in Toast during the 4th quarter worth approximately $7,020,000. Russell Investments Group Ltd. raised its stake in shares of Toast by 77.8% during the 4th quarter. Russell Investments Group Ltd. now owns 135,365 shares of the company’s stock worth $4,934,000 after buying an additional 59,231 shares in the last quarter. Finally, Aviva PLC lifted its holdings in shares of Toast by 9.1% in the 4th quarter. Aviva PLC now owns 216,312 shares of the company’s stock valued at $7,885,000 after buying an additional 17,962 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TOST has been the subject of several research analyst reports. Royal Bank of Canada increased their price objective on Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Wells Fargo & Company increased their price target on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Canaccord Genuity Group boosted their price objective on shares of Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Oppenheimer started coverage on shares of Toast in a report on Friday, January 24th. They issued an “outperform” rating and a $46.00 target price for the company. Finally, BNP Paribas set a $37.00 price target on Toast and gave the stock a “neutral” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.38.

Toast Stock Performance

TOST stock opened at $30.69 on Tuesday. Toast, Inc. has a one year low of $21.32 and a one year high of $44.12. The stock has a market capitalization of $15.16 billion, a P/E ratio of -3,065.43, a PEG ratio of 2.16 and a beta of 2.00. The company has a 50 day moving average price of $37.01 and a two-hundred day moving average price of $35.82.

Toast (NYSE:TOST) last released its 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). The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. Research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $35.71, for a total value of $2,499,700.00. Following the transaction, the director now owns 164,796 shares in the company, valued at approximately $5,884,865.16. This trade represents a 29.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Brian R. Elworthy sold 653 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $25,878.39. Following the sale, the general counsel now directly owns 209,206 shares of the company’s stock, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 270,770 shares of company stock valued at $9,409,211. Insiders own 13.32% of the company’s stock.

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.