Arrowstreet Capital Limited Partnership Makes New Investment in Toast, Inc. (NYSE:TOST)

Arrowstreet Capital Limited Partnership acquired a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,736,911 shares of the company's stock, valued at approximately $282,010,000. Arrowstreet Capital Limited Partnership owned approximately 1.64% of Toast at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TOST. Blue Trust Inc. raised its holdings in shares of Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company's stock valued at $25,000 after purchasing an additional 378 shares in the last quarter. Piscataqua Savings Bank bought a new position in Toast during the fourth quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Toast during the 4th quarter worth about $34,000. SBI Securities Co. Ltd. acquired a new position in shares of Toast during the 4th quarter valued at about $35,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Toast in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 82.91% of the company's stock.

Insider Transactions at Toast

In related news, Director Deval L. Patrick sold 34,222 shares of Toast stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $33.01, for a total value of $1,129,668.22. Following the completion of the sale, the director now directly owns 13,260 shares in the company, valued at $437,712.60. This trade represents a 72.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Fredette sold 1,068 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the sale, the president now directly owns 1,644,656 shares of the company's stock, 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. Over the last three months, insiders have sold 270,770 shares of company stock worth $9,409,211. Corporate insiders own 13.32% of the company's stock.

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Toast Price Performance

Shares of TOST traded down $2.97 on Thursday, hitting $32.71. The company's stock had a trading volume of 5,485,881 shares, compared to its average volume of 6,729,648. The company has a 50 day moving average price of $37.48 and a 200 day moving average price of $35.66. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12. The company has a market capitalization of $16.16 billion, a PE ratio of -3,267.73, a PEG ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate 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 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TOST. DA Davidson reiterated a "neutral" rating and issued a $38.00 target price (down from $44.00) on shares of Toast in a research note on Thursday, December 5th. BNP Paribas set a $37.00 price objective on Toast and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. BMO Capital Markets lifted their price target on Toast from $46.00 to $48.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. UBS Group raised their price objective on shares of Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $50.00 price target on shares of Toast in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Toast has an average rating of "Hold" and an average price target of $40.38.

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.