Atria Investments Inc Acquires New Stake in Toast, Inc. (NYSE:TOST)

Atria Investments Inc purchased a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 19,120 shares of the company's stock, valued at approximately $697,000.

A number of other institutional investors have also recently made changes to their positions in TOST. FMR LLC raised its stake in Toast by 50.5% during the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company's stock worth $692,172,000 after acquiring an additional 8,205,053 shares during the period. ValueAct Holdings L.P. bought a new stake in shares of Toast during the third quarter valued at approximately $438,301,000. State Street Corp raised its position in shares of Toast by 2.5% during the third quarter. State Street Corp now owns 8,325,292 shares of the company's stock valued at $235,689,000 after buying an additional 206,789 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Toast by 2.3% during the third quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company's stock valued at $193,992,000 after buying an additional 155,212 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Toast by 5.6% in 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 purchasing an additional 155,446 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Insiders Place Their Bets

In other news, Director Deval L. Patrick sold 34,222 shares of the company's stock in a transaction that occurred on 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 completion of 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 through this link. Also, Director Christopher P. Comparato sold 145,000 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $36.04, for a total value of $5,225,800.00. Following the completion of the transaction, the director now directly owns 182,451 shares of the company's stock, valued at approximately $6,575,534.04. This represents a 44.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,641 shares of company stock worth $8,937,776. Corporate insiders own 13.32% of the company's stock.

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Toast Price Performance

Toast stock traded down $1.09 during trading hours on Tuesday, reaching $33.75. The stock had a trading volume of 6,801,737 shares, compared to its average volume of 6,497,861. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $44.12. The company has a market cap of $16.67 billion, a price-to-earnings ratio of -3,371.13, a PEG ratio of 2.16 and a beta of 1.99. The business's 50 day moving average price is $38.05 and its 200-day moving average price is $34.78.

Toast (NYSE:TOST - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.05 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 firm had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.32 billion. On average, sell-side analysts forecast that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price 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. Royal Bank of Canada lifted their price objective on shares of Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. Oppenheimer assumed coverage on shares of Toast in a research note on Friday, January 24th. They set an "outperform" rating and a $46.00 target price for the company. Morgan Stanley boosted their target price 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. Finally, Compass Point assumed coverage on shares of Toast in a research note on Wednesday, November 20th. They set a "buy" rating and a $49.00 target price for the company. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $40.48.

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.