Prudential Financial Inc. Purchases 12,440 Shares of Toast, Inc. (NYSE:TOST)

Prudential Financial Inc. grew its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 72.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,500 shares of the company's stock after buying an additional 12,440 shares during the period. Prudential Financial Inc.'s holdings in Toast were worth $1,075,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Blue Trust Inc. lifted its holdings 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 buying an additional 378 shares during the period. Piscataqua Savings Bank bought 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 in the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. purchased a new position in shares of Toast in the 4th quarter valued at approximately $35,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Toast during the fourth quarter valued at approximately $40,000. Institutional investors own 82.91% of the company's stock.

Toast Price Performance

Toast stock traded up $0.72 during midday trading on Friday, reaching $34.08. 4,861,718 shares of the company traded hands, compared to its average volume of 6,814,098. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $44.12. The firm has a market capitalization of $16.83 billion, a price-to-earnings ratio of -3,404.30, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. The business has a 50 day moving average of $36.21 and a two-hundred day moving average of $35.87.

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Toast (NYSE:TOST - Get Free Report) last released 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 net margin of 0.40% and a return on equity of 1.54%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. As a group, equities analysts forecast that Toast, Inc. will post 0.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TOST shares. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price objective on shares of Toast in a report on Thursday, February 20th. Wells Fargo & Company raised shares of Toast from an "underweight" rating to an "overweight" rating and boosted their price objective for the stock from $30.00 to $39.00 in a research note on Thursday. BMO Capital Markets raised their target price on shares of Toast from $46.00 to $48.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. BNP Paribas set a $37.00 target price on shares of Toast and gave the company a "neutral" rating in a report on Wednesday, February 19th. Finally, UBS Group upped their price target on Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Toast currently has an average rating of "Hold" and a consensus target price of $40.27.

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 1,068 shares of the company's stock in a transaction dated 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 sale, the president now owns 1,644,656 shares of the company's stock, valued at $65,177,717.28. This represents a 0.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the firm's stock in a transaction that occurred 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 in the company, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 270,770 shares of company stock valued at $9,409,211. 13.32% of the stock is 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.