Lecap Asset Management Ltd. acquired a new stake in Toast, Inc. (NYSE:TOST – Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 52,847 shares of the company’s stock, valued at approximately $965,000.
Other hedge funds have also recently bought and sold shares of the company. Sei Investments Co. boosted its position in shares of Toast by 105.0% in the 3rd quarter. Sei Investments Co. now owns 691,018 shares of the company’s stock worth $12,943,000 after purchasing an additional 353,903 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Toast by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock worth $657,032,000 after purchasing an additional 3,494,579 shares during the last quarter. ARK Investment Management LLC boosted its position in shares of Toast by 101.5% in the 4th quarter. ARK Investment Management LLC now owns 2,345,520 shares of the company’s stock worth $42,829,000 after purchasing an additional 1,181,409 shares during the last quarter. Riverbridge Partners LLC bought a new position in shares of Toast in the 3rd quarter worth $24,647,000. Finally, Hudson Bay Capital Management LP bought a new position in shares of Toast in the 3rd quarter worth $936,000. 82.91% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. Keefe, Bruyette & Woods assumed coverage on Toast in a research note on Tuesday, April 9th. They set a “market perform” rating and a $25.00 price objective on the stock. The Goldman Sachs Group raised Toast from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $16.00 to $24.00 in a research note on Wednesday, January 10th. Evercore ISI began coverage on Toast in a research note on Monday, March 4th. They issued an “outperform” rating and a $32.00 price target on the stock. UBS Group lifted their price target on Toast from $22.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, Wells Fargo & Company lifted their price target on Toast from $15.00 to $17.00 and gave the company an “underweight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and an average price target of $23.53.
View Our Latest Stock Report on TOST
Toast Trading Down 3.0 %
Shares of NYSE:TOST traded down $0.74 during trading on Friday, reaching $23.82. 4,909,645 shares of the stock were exchanged, compared to its average volume of 5,820,115. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $27.00. The firm has a market cap of $10.41 billion, a PE ratio of -46.71 and a beta of 1.79. The stock has a 50-day moving average price of $22.73 and a 200-day moving average price of $18.90.
Toast (NYSE:TOST – Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The business’s revenue was up 34.7% on a year-over-year basis. On average, sell-side analysts expect that Toast, Inc. will post -0.22 earnings per share for the current fiscal year.
Insider Buying and Selling at Toast
In other Toast news, CEO Aman Narang sold 2,471 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $57,821.40. Following the completion of the transaction, the chief executive officer now directly owns 1,114,454 shares in the company, valued at $26,078,223.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Aman Narang sold 2,471 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $57,821.40. Following the completion of the transaction, the chief executive officer now directly owns 1,114,454 shares of the company’s stock, valued at approximately $26,078,223.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James Michael Matlock sold 4,151 shares of Toast stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $18.20, for a total value of $75,548.20. Following the completion of the transaction, the insider now directly owns 39,733 shares of the company’s stock, valued at $723,140.60. The disclosure for this sale can be found here. Insiders sold a total of 364,747 shares of company stock worth $7,517,515 over the last three months. Corporate insiders own 13.70% of the company’s stock.
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.
See Also
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