Prosperity Wealth Management Inc. Invests $320,000 in Toast, Inc. (NYSE:TOST)

Prosperity Wealth Management Inc. acquired a new stake in Toast, Inc. (NYSE:TOST - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,785 shares of the company's stock, valued at approximately $320,000.

Other hedge funds have also made changes to their positions in the company. ValueAct Holdings L.P. purchased a new stake in Toast during the third quarter valued at about $438,301,000. FMR LLC raised its holdings in shares of Toast by 50.5% during the third quarter. FMR LLC now owns 24,449,743 shares of the company's stock valued at $692,172,000 after acquiring an additional 8,205,053 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Toast by 129,058.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company's stock valued at $75,466,000 after acquiring an additional 2,072,680 shares in the last quarter. Perpetual Ltd acquired a new position in Toast in the 4th quarter worth approximately $60,878,000. Finally, Worldquant Millennium Advisors LLC grew its position in Toast by 1,475.0% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company's stock worth $24,091,000 after purchasing an additional 796,936 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Toast Stock Performance

TOST opened at $34.67 on Thursday. The stock has a 50-day moving average of $38.23 and a 200-day moving average of $34.57. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The company has a market cap of $17.13 billion, a PE ratio of -3,463.74, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99.

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Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a net margin of 0.40% and a return on equity of 1.54%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. On average, research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. DA Davidson reaffirmed a "neutral" rating and issued a $38.00 target price (down previously from $44.00) on shares of Toast in a research report on Thursday, December 5th. UBS Group lifted their target price on Toast from $41.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Compass Point started coverage on shares of Toast in a research report on Wednesday, November 20th. They issued a "buy" rating and a $49.00 price target for the company. Morgan Stanley boosted their price objective on shares of Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods upped their price objective 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. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $40.48.

Insider Buying and Selling

In other news, Director Christopher P. Comparato sold 145,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $36.04, for a total value of $5,225,800.00. Following the completion of the sale, the director now directly owns 182,451 shares of the company's stock, valued at approximately $6,575,534.04. This represents a 44.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 70,340 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the transaction, the president now directly owns 1,574,316 shares in the company, valued at $53,322,082.92. This trade represents a 4.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,119 shares of company stock worth $7,797,608 in the last quarter. 13.32% of the stock is currently owned by company insiders.

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.

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