ExodusPoint Capital Management LP Takes Position in Toast, Inc. (NYSE:TOST)

ExodusPoint Capital Management LP acquired a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 71,344 shares of the company's stock, valued at approximately $2,600,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in Toast by 120.4% during the fourth 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 purchased a new position in shares of Toast during the 4th quarter valued at $26,000. Stonebridge Financial Group LLC bought a new position in Toast in the 4th quarter worth $34,000. SBI Securities Co. Ltd. purchased a new stake in Toast in the 4th quarter worth $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Toast in the 4th quarter worth $40,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Up 2.1 %

NYSE:TOST traded up $0.72 during mid-day trading on Friday, hitting $34.08. 4,861,718 shares of the stock traded hands, compared to its average volume of 6,814,099. The stock has a market capitalization of $16.83 billion, a price-to-earnings ratio of -3,404.30, a PEG ratio of 2.16 and a beta of 2.00. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $44.12. The firm's 50 day moving average is $36.10 and its two-hundred day moving average is $35.91.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings results 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). Toast had a return on equity of 1.54% and a net margin of 0.40%. The business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.32 billion. As a group, research analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Canaccord Genuity Group upped their price objective on Toast from $43.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Royal Bank of Canada upped their price target on Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. Evercore ISI started coverage on shares of Toast in a research report on Wednesday. They set an "in-line" rating and a $29.00 price objective on the stock. Morgan Stanley upped their target price on shares of Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods lifted their price target 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. Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $40.27.

Insider Transactions at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of the firm's 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 trade represents a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Christopher P. Comparato sold 70,000 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $35.71, for a total value of $2,499,700.00. Following the completion of the sale, the director now owns 164,796 shares of the company's stock, valued at $5,884,865.16. This represents a 29.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 270,770 shares of company stock worth $9,409,211. 13.32% of the stock is currently owned by insiders.

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.