Next Century Growth Investors LLC Takes $1.66 Million Position in Toast, Inc. (NYSE:TOST)

Next Century Growth Investors LLC purchased a new stake in Toast, Inc. (NYSE:TOST) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 45,470 shares of the company’s stock, valued at approximately $1,657,000.

Several other institutional investors have also recently bought and sold shares of the business. Qtron Investments LLC bought a new position in Toast in the 4th quarter valued at approximately $447,000. Covestor Ltd increased its holdings in shares of Toast by 27.0% during the fourth quarter. Covestor Ltd now owns 2,990 shares of the company’s stock worth $109,000 after buying an additional 635 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Toast by 5.5% during the 4th quarter. Treasurer of the State of North Carolina now owns 204,474 shares of the company’s stock valued at $7,453,000 after acquiring an additional 10,650 shares in the last quarter. Colonial Trust Advisors grew its position in Toast by 500.0% during the 4th quarter. Colonial Trust Advisors now owns 4,500 shares of the company’s stock worth $164,000 after acquiring an additional 3,750 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Toast in the 4th quarter worth about $21,465,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Evercore ISI initiated coverage on Toast in a research note on Wednesday. They set an “in-line” rating and a $29.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. BMO Capital Markets raised their price target on shares of Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. The Goldman Sachs Group decreased their price objective on Toast from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Toast in a research report on Thursday, February 20th. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Toast has an average rating of “Hold” and a consensus target price of $40.27.

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 70,340 shares of the firm’s 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 directly owns 1,574,316 shares of the company’s stock, valued at $53,322,082.92. This trade represents a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deval L. Patrick sold 34,222 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $33.01, for a total value of $1,129,668.22. Following the sale, the director now owns 13,260 shares in the company, 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 have sold a total of 270,770 shares of company stock valued at $9,409,211 over the last three months. 13.32% of the stock is currently owned by insiders.

Toast Price Performance

Shares of Toast stock opened at $34.08 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 $36.21 and a 200-day moving average price of $35.87. The firm has a market cap of $16.83 billion, a PE ratio of -3,404.30, a P/E/G ratio of 2.16 and a beta of 2.00.

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 the consensus estimate of $0.06 by ($0.01). The company 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%. As a group, equities analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

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.