Lord Abbett & CO. LLC Boosts Position in Toast, Inc. (NYSE:TOST)

Lord Abbett & CO. LLC increased its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 524.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,633,386 shares of the company's stock after acquiring an additional 1,372,021 shares during the quarter. Lord Abbett & CO. LLC owned about 0.35% of Toast worth $59,537,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TOST. Royal Bank of Canada boosted their target price on Toast from $40.00 to $45.00 and gave the company a "sector perform" rating in a report on Thursday, February 20th. The Goldman Sachs Group cut their price objective on shares of Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. BMO Capital Markets lifted their target price on shares of Toast from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Canaccord Genuity Group increased their price target on shares of Toast from $43.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, Oppenheimer initiated coverage on Toast in a research report on Friday, January 24th. They set an "outperform" rating and a $46.00 target price on the stock. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $40.26.

Toast Trading Up 1.3 %

Shares of NYSE TOST traded up $0.46 during trading on Tuesday, reaching $36.20. The company had a trading volume of 6,826,274 shares, compared to its average volume of 6,836,441. The stock has a market capitalization of $17.88 billion, a PE ratio of -3,616.38, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12. The stock has a 50-day moving average price of $34.68 and a two-hundred day moving average price of $36.46.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) 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 analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. On average, sell-side analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

Insider Buying and Selling at Toast

In other Toast news, CFO Elena Gomez sold 2,052 shares of Toast stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $81,320.76. Following the transaction, the chief financial officer now owns 160,498 shares in the company, valued at $6,360,535.74. This trade represents a 1.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Stephen Fredette sold 1,068 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 value of $42,324.84. Following the sale, the president now 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 340,770 shares of company stock worth $11,803,911. Insiders own 13.32% of the company's stock.

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.