AXQ Capital LP Decreases Stake in Toast, Inc. (NYSE:TOST)

AXQ Capital LP lessened its position in Toast, Inc. (NYSE:TOST - Free Report) by 61.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,826 shares of the company's stock after selling 31,240 shares during the period. AXQ Capital LP's holdings in Toast were worth $723,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TOST. Geode Capital Management LLC raised its stake 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 acquiring an additional 155,212 shares during the last quarter. MML Investors Services LLC raised its position in Toast by 40.6% during the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company's stock worth $6,464,000 after purchasing an additional 65,957 shares during the last quarter. Charles Schwab Investment Management Inc. lifted 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 worth $107,108,000 after buying an additional 155,446 shares during the period. Qsemble Capital Management LP grew its position in shares of Toast by 52.1% in the 3rd quarter. Qsemble Capital Management LP now owns 67,796 shares of the company's stock valued at $1,919,000 after buying an additional 23,231 shares during the last quarter. Finally, FMR LLC grew its position in shares of Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company's stock valued at $692,172,000 after buying an additional 8,205,053 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

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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 completion of the sale, the general counsel now owns 209,206 shares in the company, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the completion of the sale, the director now directly owns 164,796 shares in the company, valued at approximately $5,884,865.16. This represents a 29.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 270,770 shares of company stock valued at $9,409,211. 13.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Toast from $36.00 to $42.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. UBS Group boosted their price target on shares of Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Morgan Stanley upped their price objective 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. BNP Paribas set a $37.00 target price on shares of Toast and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group set a $40.00 price target on shares of Toast and gave the company a "neutral" rating in a research report on Wednesday, February 19th. One 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $40.48.

Toast Stock Down 1.7 %

NYSE TOST traded down $0.61 on Thursday, reaching $35.36. The company had a trading volume of 4,610,227 shares, compared to its average volume of 6,508,499. The company's fifty day moving average is $37.80 and its 200 day moving average is $35.33. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The stock has a market capitalization of $17.47 billion, a P/E ratio of -3,532.27, a P/E/G ratio of 2.16 and a beta of 1.99.

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). The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. On average, research analysts expect that Toast, Inc. will post 0.39 EPS for the current year.

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.