By otakuyassine3@gmail.com 
Russell Investments Group Ltd. grew its position in shares of Toast, Inc. (NYSE:TOST – Free Report) by 77.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 135,365 shares of the company’s stock after acquiring an additional 59,231 shares during the period. Russell Investments Group Ltd.’s holdings in Toast were worth $4,934,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock valued at $1,548,186,000 after acquiring an additional 4,147,430 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Toast in the 4th quarter valued at $282,010,000. Geode Capital Management LLC boosted its holdings in Toast by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company’s stock worth $256,970,000 after purchasing an additional 195,805 shares in the last quarter. Norges Bank acquired a new position in Toast during the fourth quarter worth $205,888,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Toast by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock valued at $107,108,000 after buying an additional 155,446 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.
Insider Buying and Selling at Toast
In other Toast 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 completion of the transaction, the director now owns 164,796 shares in the company, valued at approximately $5,884,865.16. The trade was a 29.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 1,068 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the completion of the transaction, the president now directly owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. This represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 270,770 shares of company stock worth $9,409,211 over the last ninety days. Corporate insiders own 13.32% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on TOST shares. Morgan Stanley increased their price objective on Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Evercore ISI assumed coverage on Toast in a report on Wednesday, April 9th. They set an “in-line” rating and a $29.00 price target on the stock. 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 research note on Thursday, February 20th. JPMorgan Chase & Co. raised their target price on shares of Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a report on Thursday, February 20th. Thirteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $40.27.
Check Out Our Latest Stock Analysis on TOST
Toast Trading Up 1.5 %
Shares of TOST opened at $34.59 on Tuesday. The stock has a 50 day simple moving average of $35.97 and a 200-day simple moving average of $36.02. The stock has a market cap of $17.09 billion, a PE ratio of -3,455.54, a PEG ratio of 2.16 and a beta of 2.00. Toast, Inc. has a 1 year low of $21.32 and a 1 year high of $44.12.
Toast (NYSE:TOST – Get Free Report) last issued its quarterly earnings data 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 net margin of 0.40% and a return on equity of 1.54%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. On average, sell-side analysts forecast that Toast, Inc. will post 0.39 EPS for the current fiscal year.
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.
Further Reading
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