Freedom Investment Management Inc. Makes New Investment in Toast, Inc. (NYSE:TOST)

Freedom Investment Management 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 13F filing with the Securities and Exchange Commission. The firm purchased 7,733 shares of the company's stock, valued at approximately $282,000.

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

Analyst Upgrades and Downgrades

TOST has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped 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 increased their target price on shares of Toast from $40.00 to $45.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. Robert W. Baird upped their price target on Toast from $38.00 to $40.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Oppenheimer started coverage on Toast in a research note on Friday, January 24th. They issued an "outperform" rating and a $46.00 target price for the company. Finally, The Goldman Sachs Group decreased their price target on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Thirteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $40.09.

Insiders Place Their Bets

In related news, President Stephen Fredette sold 1,068 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the completion of the transaction, the president now owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher P. Comparato sold 70,000 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $34.21, for a total transaction of $2,394,700.00. Following the completion of the sale, the director now directly owns 179,316 shares of the company's stock, valued at $6,134,400.36. The trade was a 28.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 340,770 shares of company stock valued at $11,803,911. Company insiders own 13.32% of the company's stock.

Toast Stock Performance

NYSE TOST opened at $34.16 on Wednesday. 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 $16.88 billion, a P/E ratio of -3,412.59, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. The stock has a fifty day moving average of $35.30 and a 200-day moving average of $36.23.

Toast (NYSE:TOST - Get Free Report) last announced 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 firm had revenue of $1.34 billion for 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%. Equities research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Toast 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.

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