Federated Hermes Inc. Boosts Stock Position in Toast, Inc. (NYSE:TOST)

Federated Hermes Inc. increased its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 44.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,302,206 shares of the company's stock after acquiring an additional 705,573 shares during the period. Federated Hermes Inc. owned about 0.49% of Toast worth $83,965,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of TOST. Thames Capital Management LLC purchased a new position in Toast during the fourth quarter worth about $4,433,000. Atika Capital Management LLC purchased a new stake in Toast in the fourth quarter worth about $7,020,000. Russell Investments Group Ltd. boosted its holdings in shares of Toast by 77.8% during the 4th quarter. Russell Investments Group Ltd. now owns 135,365 shares of the company's stock valued at $4,934,000 after buying an additional 59,231 shares in the last quarter. Aviva PLC grew its stake in shares of Toast by 9.1% in the fourth quarter. Aviva PLC now owns 216,312 shares of the company's stock worth $7,885,000 after acquiring an additional 17,962 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its holdings in Toast by 195.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 42,708 shares of the company's stock worth $1,557,000 after acquiring an additional 28,240 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Insider Buying and Selling

In other news, General Counsel Brian R. Elworthy sold 653 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the transaction, the general counsel now owns 209,206 shares in the company, valued at $8,290,833.78. This trade represents a 0.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elena Gomez sold 2,052 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $81,320.76. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 270,770 shares of company stock worth $9,409,211 over the last three months. 13.32% of the stock is currently owned by company insiders.

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Toast Stock Up 2.1 %

Toast stock traded up $0.72 during mid-day trading on Friday, hitting $34.08. The company's stock had a trading volume of 4,861,718 shares, compared to its average volume of 6,814,099. The stock has a market capitalization of $16.83 billion, a P/E ratio of -3,404.30, a P/E/G 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's fifty day moving average price is $36.21 and its two-hundred day moving average price is $35.87.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Equities analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Robert W. Baird upped their price objective on Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. The Goldman Sachs Group cut their price target on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. BMO Capital Markets boosted their price objective on shares of Toast from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. UBS Group lifted their target price on Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, BNP Paribas set a $37.00 price objective on shares of Toast and gave the company a "neutral" rating in a report on Wednesday, February 19th. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $40.27.

Toast 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.