Toast, Inc. (NYSE:TOST) Shares Sold by Lead Edge Capital Management LLC

Lead Edge Capital Management LLC lessened its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 58.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,038,900 shares of the company's stock after selling 1,460,000 shares during the quarter. Toast makes up about 12.8% of Lead Edge Capital Management LLC's investment portfolio, making the stock its 4th largest position. Lead Edge Capital Management LLC owned 0.22% of Toast worth $37,868,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TOST. Arrowstreet Capital Limited Partnership acquired a new stake in Toast during the fourth quarter valued at approximately $282,010,000. Norges Bank acquired a new position in Toast during the fourth quarter worth $205,888,000. FMR LLC lifted its holdings in shares of Toast by 22.1% during the fourth 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. grew its holdings in shares of Toast by 10.8% in the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Toast by 255.0% during the 4th quarter. Renaissance Technologies LLC now owns 3,504,212 shares of the company's stock worth $127,729,000 after purchasing an additional 2,517,012 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Toast Stock Performance

Shares of NYSE TOST opened at $34.16 on Wednesday. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The stock has a market cap of $16.88 billion, a P/E ratio of -3,412.59, a P/E/G ratio of 2.16 and a beta of 2.00. The firm has a 50 day moving average price of $35.30 and a 200 day moving average price of $36.23.

Toast (NYSE:TOST - Get Free Report) last announced 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 firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. Analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. BNP Paribas set a $37.00 price objective on Toast and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Wells Fargo & Company raised shares of Toast from an "underweight" rating to an "overweight" rating and boosted their target price for the stock from $30.00 to $39.00 in a research note on Thursday, April 10th. BMO Capital Markets raised their price target on shares of Toast from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their price objective on Toast from $36.00 to $42.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Toast currently has a consensus rating of "Hold" and an average price target of $40.09.

Insiders Place Their Bets

In related news, Director Christopher P. Comparato sold 70,000 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $35.71, for a total value of $2,499,700.00. Following the sale, the director now directly owns 164,796 shares of the company's stock, valued at approximately $5,884,865.16. The trade was a 29.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the 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 transaction, the general counsel now owns 209,206 shares of the company's stock, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 340,770 shares of company stock worth $11,803,911 over the last ninety days. 13.32% of the stock is currently owned by corporate 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.

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