Toast, Inc. (NYSE:TOST) Shares Acquired by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. increased its stake in Toast, Inc. (NYSE:TOST - Free Report) by 134.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 392,853 shares of the company's stock after acquiring an additional 225,215 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.08% of Toast worth $14,319,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. FMR LLC grew its holdings in shares of Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company's stock worth $692,172,000 after acquiring an additional 8,205,053 shares during the last quarter. ValueAct Holdings L.P. acquired a new position in shares of Toast in the 3rd quarter worth $438,301,000. State Street Corp grew its holdings in shares of Toast by 2.5% in the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company's stock worth $235,689,000 after acquiring an additional 206,789 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Toast by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company's stock worth $193,992,000 after acquiring an additional 155,212 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Toast by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock worth $107,108,000 after acquiring an additional 155,446 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Toast

In related news, President Stephen Fredette sold 1,068 shares of the 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 $42,324.84. Following the completion of the sale, the president now owns 1,644,656 shares in the company, valued at $65,177,717.28. This represents a 0.06 % decrease in their position. The sale 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 stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $25,878.39. Following the sale, the general counsel now 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,119 shares of company stock worth $7,797,608. 13.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TOST has been the topic of a number of recent research reports. Robert W. Baird lifted their target price on Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 target price on shares of Toast in a research report on Thursday, February 20th. Morgan Stanley raised their target price on Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. UBS Group raised their target price on Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods raised their target price on Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $40.48.

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Toast Stock Performance

TOST opened at $34.67 on Thursday. 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. 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.

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 company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. On average, research analysts predict that Toast, Inc. will post 0.39 earnings per share 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.

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