Toast, Inc. (NYSE:TOST) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 42.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,498 shares of the company's stock after selling 13,822 shares during the quarter. Wellington Management Group LLP's holdings in Toast were worth $674,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TOST. O Shaughnessy Asset Management LLC lifted its position in Toast by 81.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 23,049 shares of the company's stock valued at $840,000 after purchasing an additional 10,380 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of Toast by 50.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,998 shares of the company's stock worth $223,000 after buying an additional 2,011 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of Toast in the fourth quarter worth $941,000. Arrowstreet Capital Limited Partnership purchased a new stake in Toast during the fourth quarter valued at $282,010,000. Finally, Allstate Corp bought a new position in Toast in the fourth quarter valued at about $418,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TOST. Oppenheimer began coverage on shares of Toast in a research report on Friday, January 24th. They set an "outperform" rating and a $46.00 price target for the company. Robert W. Baird lifted their price target on shares of Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 target price on shares of Toast in a report on Thursday, February 20th. Royal Bank of Canada boosted their price target on Toast from $40.00 to $45.00 and gave the company a "sector perform" rating in a report on Thursday, February 20th. Finally, Morgan Stanley decreased their price objective on Toast from $50.00 to $46.00 and set an "overweight" rating on the stock in a research note on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Toast has a consensus rating of "Hold" and an average price target of $40.09.

Insider Activity at Toast

In other news, President Stephen Fredette sold 1,068 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $42,324.84. Following the transaction, the president now owns 1,644,656 shares of the company's stock, valued at approximately $65,177,717.28. This represents a 0.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elena Gomez sold 2,052 shares of the firm'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 $81,320.76. Following the transaction, the chief financial officer now owns 160,498 shares in the company, valued at approximately $6,360,535.74. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 340,770 shares of company stock worth $11,803,911. Company insiders own 13.32% of the company's stock.

Toast Price Performance

Shares of NYSE TOST traded up $0.01 during midday trading on Friday, reaching $34.30. 4,887,706 shares of the stock traded hands, compared to its average volume of 6,836,423. The company's 50 day moving average is $35.43 and its 200 day moving average is $36.14. Toast, Inc. has a one year low of $21.32 and a one year high of $44.12. The stock has a market capitalization of $16.95 billion, a PE ratio of -3,426.97, a P/E/G ratio of 2.16 and a beta of 2.00.

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 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 business 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.

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.