Toast, Inc. (NYSE:TOST) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lowered its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 95.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,218 shares of the company's stock after selling 46,932 shares during the quarter. AlphaQuest LLC's holdings in Toast were worth $81,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. FMR LLC increased its position in shares of Toast by 50.5% during the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company's stock valued at $692,172,000 after purchasing an additional 8,205,053 shares during the last quarter. ValueAct Holdings L.P. bought a new position in shares of Toast during the 3rd quarter valued at approximately $438,301,000. State Street Corp boosted its holdings in Toast by 2.5% during the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company's stock valued at $235,689,000 after acquiring an additional 206,789 shares during the period. Geode Capital Management LLC boosted its holdings in Toast by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company's stock valued at $193,992,000 after acquiring an additional 155,212 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Toast by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock valued at $107,108,000 after acquiring an additional 155,446 shares during the period. Institutional investors own 82.91% of the company's stock.

Toast Stock Down 1.9 %

Shares of NYSE TOST traded down $0.68 during mid-day trading on Friday, reaching $35.20. 6,987,316 shares of the company were exchanged, compared to its average volume of 6,508,881. The stock has a market cap of $17.39 billion, a price-to-earnings ratio of -3,516.78, a P/E/G ratio of 2.16 and a beta of 1.99. Toast, Inc. has a 1 year low of $21.32 and a 1 year high of $44.12. The firm has a 50-day moving average of $37.82 and a 200 day moving average of $35.07.

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Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates 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%. On average, equities analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. UBS Group boosted their price objective on Toast from $41.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, February 20th. DA Davidson restated a "neutral" rating and set a $38.00 price objective (down previously from $44.00) on shares of Toast in a report on Thursday, December 5th. Robert W. Baird boosted their price objective on Toast from $38.00 to $40.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Needham & Company LLC restated a "buy" rating and set a $50.00 price objective on shares of Toast in a report on Thursday, February 20th. Finally, Wells Fargo & Company boosted their price objective on Toast from $25.00 to $30.00 and gave the company an "underweight" rating in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Toast currently has a consensus rating of "Hold" and an average price target of $40.48.

Insider Activity at Toast

In related news, Director Deval L. Patrick sold 34,222 shares of the company'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 transaction, the director now directly owns 13,260 shares of the company's stock, valued at $437,712.60. This represents a 72.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Stephen Fredette sold 1,068 shares of the company'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 $42,324.84. Following the transaction, the president now directly owns 1,644,656 shares in the company, valued at $65,177,717.28. This represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 270,770 shares of company stock valued at $9,409,211 in the last ninety days. Corporate insiders own 13.32% of the company's stock.

Toast Company 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.