Canada Pension Plan Investment Board Increases Stock Position in Toast, Inc. (NYSE:TOST)

Canada Pension Plan Investment Board increased its position in Toast, Inc. (NYSE:TOST - Free Report) by 166.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 200,900 shares of the company's stock after purchasing an additional 125,600 shares during the period. Canada Pension Plan Investment Board's holdings in Toast were worth $7,323,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership purchased a new position in Toast in the 4th quarter worth about $282,010,000. Norges Bank bought a new stake in Toast in the 4th quarter worth approximately $205,888,000. FMR LLC raised its stake in Toast by 22.1% during the 4th quarter. FMR LLC now owns 29,853,639 shares of the company's stock valued at $1,088,165,000 after buying an additional 5,403,896 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock worth $1,548,186,000 after acquiring an additional 4,147,430 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Toast by 255.0% during the 4th quarter. Renaissance Technologies LLC now owns 3,504,212 shares of the company's stock valued at $127,729,000 after purchasing an additional 2,517,012 shares during the period. Institutional investors own 82.91% of the company's stock.

Insider Activity at Toast

In related news, CFO Elena Gomez sold 2,052 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $81,320.76. Following the completion of the transaction, the chief financial officer now directly owns 160,498 shares of the company's stock, valued at $6,360,535.74. This represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the business's stock in a transaction that occurred 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 sale, the general counsel now owns 209,206 shares of the company's stock, valued at $8,290,833.78. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 340,770 shares of company stock valued at $11,803,911 over the last 90 days. 13.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TOST has been the topic of several recent research reports. Oppenheimer initiated coverage on shares of Toast in a research report on Friday, January 24th. They issued an "outperform" rating and a $46.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Keefe, Bruyette & Woods lifted their target price on shares of Toast from $40.00 to $42.00 and gave the company a "market perform" rating in a research note on Thursday, February 20th. Royal Bank of Canada lifted their target price on Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th. Finally, UBS Group boosted their price objective on Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $40.26.

Toast Trading Up 0.5 %

TOST traded up $0.17 on Friday, hitting $36.12. The company had a trading volume of 6,738,262 shares, compared to its average volume of 6,818,248. Toast, Inc. has a 1 year low of $21.32 and a 1 year high of $44.12. The company's fifty day moving average price is $35.06 and its 200 day moving average price is $36.21. The firm has a market cap of $17.84 billion, a P/E ratio of -3,608.39, a PEG ratio of 2.16 and a beta of 2.00.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. On average, analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

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.