Treasurer of the State of North Carolina Boosts Stake in Toast, Inc. (NYSE:TOST)

Treasurer of the State of North Carolina raised its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 204,474 shares of the company's stock after acquiring an additional 10,650 shares during the period. Treasurer of the State of North Carolina's holdings in Toast were worth $7,453,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership purchased a new stake in Toast in the 4th 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 raised its position in Toast by 22.1% in the fourth quarter. FMR LLC now owns 29,853,639 shares of the company's stock worth $1,088,165,000 after acquiring an additional 5,403,896 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock valued at $1,548,186,000 after acquiring an additional 4,147,430 shares during the period. Finally, Renaissance Technologies LLC boosted 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 owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TOST. Robert W. Baird lifted their price target on shares of Toast from $38.00 to $40.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. 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 report on Wednesday, April 2nd. Oppenheimer assumed coverage on shares of Toast in a research note on Friday, January 24th. They issued an "outperform" rating and a $46.00 price objective on the stock. Royal Bank of Canada lifted their target price on shares of Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 20th. Finally, Morgan Stanley lowered their price target on shares of Toast from $50.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday. Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Toast presently has a consensus rating of "Hold" and a consensus target price of $40.09.

Insider Buying and Selling at Toast

In related news, General Counsel Brian R. Elworthy sold 653 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 value of $25,878.39. Following the completion of the sale, the general counsel now directly owns 209,206 shares in the company, valued at approximately $8,290,833.78. This represents a 0.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Stephen Fredette sold 1,068 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the transaction, the president now directly owns 1,644,656 shares in the company, valued at $65,177,717.28. This trade represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 270,770 shares of company stock valued at $9,409,211 over the last ninety days. Corporate insiders own 13.32% of the company's stock.

Toast Stock Up 0.0 %

Shares of TOST stock traded up $0.01 on Friday, reaching $34.30. 4,887,706 shares of the stock were exchanged, compared to its average volume of 6,819,214. The stock has a market cap of $16.95 billion, a P/E ratio of -3,426.97, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. The firm has a 50 day moving average of $35.55 and a two-hundred day moving average of $36.04. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $44.12.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. On average, equities research analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal 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.