Bridgewater Associates LP Acquires 1,807,180 Shares of Toast, Inc. (NYSE:TOST)

Bridgewater Associates LP raised its stake in Toast, Inc. (NYSE:TOST - Free Report) by 322.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,367,909 shares of the company's stock after purchasing an additional 1,807,180 shares during the period. Bridgewater Associates LP owned 0.50% of Toast worth $86,310,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Toast by 2.3% in 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. Charles Schwab Investment Management Inc. grew its position 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 during the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of Toast by 134.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company's stock worth $14,319,000 after purchasing an additional 225,215 shares during the period. New York Life Investment Management LLC acquired a new stake in Toast during the 4th quarter worth approximately $1,572,000. Finally, Forsta AP Fonden boosted its stake in Toast by 191.4% in the 4th quarter. Forsta AP Fonden now owns 234,300 shares of the company's stock valued at $8,540,000 after purchasing an additional 153,900 shares during the period. 82.91% of the stock is owned by institutional investors.

Toast Stock Up 0.0 %

Shares of NYSE TOST traded up $0.01 during midday trading on Friday, reaching $34.30. 4,887,706 shares of the company were exchanged, compared to its average volume of 6,819,214. Toast, Inc. has a one year low of $21.32 and a one year high of $44.12. The stock's 50-day moving average price is $35.55 and its 200-day moving average price is $36.04. The stock has a market cap of $16.95 billion, a P/E ratio of -3,426.97, a PEG ratio of 2.16 and a beta of 2.00.

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 the consensus estimate of $0.06 by ($0.01). The business had revenue of $1.34 billion during 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 research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Insider Activity

In related news, CRO Jonathan Vassil sold 1,006 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $39,867.78. Following the completion of the sale, the executive now directly owns 48,488 shares of the company's stock, valued at approximately $1,921,579.44. This represents a 2.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Brian R. Elworthy sold 653 shares of Toast stock in a transaction on Tuesday, February 4th. The stock was 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 in the company, valued at $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 340,770 shares of company stock valued at $11,803,911. Company insiders own 13.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. UBS Group increased their price objective on Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Royal Bank of Canada raised their price target 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. Evercore ISI assumed coverage on shares of Toast in a report on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 price objective for the company. Keefe, Bruyette & Woods raised their target price on shares of Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a report on Thursday, February 20th. Finally, The Goldman Sachs Group cut their price target on Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $40.09.

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.