Toast, Inc. (NYSE:TOST) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lowered its position in Toast, Inc. (NYSE:TOST - Free Report) by 15.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,824,649 shares of the company's stock after selling 321,368 shares during the period. First Trust Advisors LP owned about 0.39% of Toast worth $66,508,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TOST. Arrowstreet Capital Limited Partnership purchased a new position in shares of Toast in the 4th quarter valued at about $282,010,000. Norges Bank purchased a new position in Toast in the fourth quarter valued at about $205,888,000. FMR LLC lifted its position in shares of Toast by 22.1% during the 4th quarter. FMR LLC now owns 29,853,639 shares of the company's stock valued at $1,088,165,000 after acquiring an additional 5,403,896 shares during the period. Vanguard Group Inc. boosted its stake in shares of Toast by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock worth $1,548,186,000 after acquiring an additional 4,147,430 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Toast by 255.0% in the 4th quarter. Renaissance Technologies LLC now owns 3,504,212 shares of the company's stock worth $127,729,000 after acquiring an additional 2,517,012 shares during the period. Hedge funds and other institutional investors own 82.91% of the company's stock.

Toast Stock Up 3.3 %

Shares of NYSE TOST opened at $34.16 on Wednesday. The stock has a market capitalization of $16.88 billion, a PE ratio of -3,412.59, a P/E/G ratio of 2.16 and a beta of 2.00. The firm has a fifty day moving average of $35.30 and a 200-day moving average of $36.23. 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 posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The firm had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. Equities research analysts expect that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Stephen Fredette sold 44,056 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $35.15, for a total value of $1,548,568.40. Following the completion of the sale, the president now owns 1,447,717 shares of the company's stock, valued at $50,887,252.55. This represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher P. Comparato sold 70,000 shares of the firm's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $34.21, for a total value of $2,394,700.00. Following the sale, the director now owns 179,316 shares in the company, valued at approximately $6,134,400.36. The trade was a 28.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 340,770 shares of company stock valued at $11,803,911. 13.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on TOST shares. Morgan Stanley decreased their target price on Toast from $50.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Robert W. Baird boosted their price objective on shares of Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. The Goldman Sachs Group dropped their target price on shares of Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. JPMorgan Chase & Co. upped their price target on shares of Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Finally, BMO Capital Markets raised 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. Thirteen 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, the company currently has a consensus rating of "Hold" and a consensus price target of $40.09.

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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