Geode Capital Management LLC Has $256.97 Million Stake in Toast, Inc. (NYSE:TOST)

Geode Capital Management LLC lifted its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,061,739 shares of the company's stock after purchasing an additional 195,805 shares during the quarter. Geode Capital Management LLC owned approximately 1.50% of Toast worth $256,970,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. raised its position in Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company's stock worth $25,000 after purchasing an additional 378 shares in the last quarter. Piscataqua Savings Bank acquired a new position in shares of Toast in the 4th quarter worth approximately $26,000. Stonebridge Financial Group LLC bought a new position in shares of Toast during the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. acquired a new stake in Toast in the 4th quarter valued at $35,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Toast in the fourth quarter valued at $40,000. 82.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TOST shares. Canaccord Genuity Group boosted their target price on shares of Toast from $43.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. BNP Paribas set a $37.00 price objective on shares of Toast and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 target price on shares of Toast in a research note on Thursday, February 20th. The Goldman Sachs Group decreased their price target on Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company raised Toast from an "underweight" rating to an "overweight" rating and raised their price target for the company from $30.00 to $39.00 in a report on Thursday. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $40.27.

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Toast Stock Performance

NYSE:TOST traded down $1.45 during trading hours on Thursday, hitting $32.94. The stock had a trading volume of 1,792,471 shares, compared to its average volume of 6,798,586. The business's 50 day moving average is $36.34 and its 200-day moving average is $35.83. The company has a market cap of $16.27 billion, a price-to-earnings ratio of -3,294.51, a P/E/G ratio of 2.16 and a beta of 2.00. Toast, Inc. has a one year low of $21.32 and a one year high of $44.12.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The firm had revenue of $1.34 billion during 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, sell-side analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Insider Activity

In related news, President Stephen Fredette sold 1,068 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the sale, the president now directly owns 1,644,656 shares of the company's stock, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the company'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 completion of the transaction, the general counsel now directly owns 209,206 shares of the company's stock, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 270,770 shares of company stock worth $9,409,211 in the last 90 days. Corporate insiders own 13.32% of the company's stock.

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.