Andra AP fonden Raises Stock Position in Toast, Inc. (NYSE:TOST)

Andra AP fonden boosted its stake in Toast, Inc. (NYSE:TOST - Free Report) by 119.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,300 shares of the company's stock after purchasing an additional 99,812 shares during the period. Andra AP fonden's holdings in Toast were worth $6,681,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BBR Partners LLC bought a new position in shares of Toast during the fourth quarter valued at $1,191,000. Chung Wu Investment Group LLC bought a new position in shares of Toast during the fourth quarter valued at $222,000. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Toast during the fourth quarter valued at $280,000. Raymond James Financial Inc. bought a new position in shares of Toast during the fourth quarter valued at $21,465,000. Finally, Arizona State Retirement System raised its stake in shares of Toast by 9.6% during the fourth quarter. Arizona State Retirement System now owns 113,813 shares of the company's stock valued at $4,148,000 after acquiring an additional 9,985 shares during the last quarter. Institutional investors own 82.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Royal Bank of Canada increased their price objective on shares of Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 20th. BNP Paribas set a $37.00 price objective on shares of Toast and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Robert W. Baird increased their price objective on shares of Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Finally, Oppenheimer started coverage on shares of Toast in a report on Friday, January 24th. They issued an "outperform" rating and a $46.00 price target for the company. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $40.48.

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Toast Price Performance

Shares of NYSE TOST traded up $0.65 during mid-day trading on Friday, reaching $34.77. 10,911,437 shares of the company's stock traded hands, compared to its average volume of 6,598,657. The stock has a market cap of $17.17 billion, a P/E ratio of -3,473.03, a PEG ratio of 2.16 and a beta of 1.99. The business has a 50-day simple moving average of $38.36 and a 200 day simple moving average of $34.36. 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 released its quarterly earnings results 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). Toast had a net margin of 0.40% and a return on equity of 1.54%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Equities research analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Activity at Toast

In related news, General Counsel Brian R. Elworthy sold 653 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $25,878.39. Following the transaction, the general counsel now directly owns 209,206 shares of the company's stock, valued at $8,290,833.78. This trade represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher P. Comparato sold 145,000 shares of the firm's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the transaction, the director now directly owns 182,451 shares in the company, valued at $6,575,534.04. The trade was a 44.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 149,779 shares of company stock valued at $5,415,192 over the last ninety days. Corporate 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.