Toast, Inc. (NYSE:TOST) Position Reduced by Trexquant Investment LP

Trexquant Investment LP cut its stake in Toast, Inc. (NYSE:TOST - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 535,809 shares of the company's stock after selling 86,871 shares during the period. Trexquant Investment LP owned approximately 0.11% of Toast worth $19,530,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. grew its stake in Toast by 120.4% in the 4th quarter. Blue Trust Inc. now owns 692 shares of the company's stock valued at $25,000 after acquiring an additional 378 shares during the last quarter. Piscataqua Savings Bank purchased a new position in shares of Toast during the 4th quarter worth approximately $26,000. Stonebridge Financial Group LLC purchased a new position in shares of Toast during the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. acquired a new position in shares of Toast during the 4th quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Toast in the 4th quarter valued at approximately $40,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Toast

In other news, President Stephen Fredette sold 1,068 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 transaction of $42,324.84. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the business'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 approximately $8,290,833.78. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 270,770 shares of company stock worth $9,409,211. 13.32% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TOST. The Goldman Sachs Group cut their price target on Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday. Robert W. Baird upped their target price on shares of Toast from $38.00 to $40.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Oppenheimer assumed coverage on shares of Toast in a report on Friday, January 24th. They set an "outperform" rating and a $46.00 price target for the company. UBS Group boosted their price objective on shares of Toast from $41.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Finally, BNP Paribas set a $37.00 target price on shares of Toast and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Toast presently has an average rating of "Hold" and a consensus target price of $40.38.

Toast Stock Down 6.4 %

Shares of Toast stock traded down $2.08 during trading hours on Friday, hitting $30.58. The company's stock had a trading volume of 10,413,952 shares, compared to its average volume of 6,769,749. The company has a market capitalization of $15.10 billion, a PE ratio of -3,054.55, a P/E/G ratio of 2.16 and a beta of 2.00. The business has a fifty day moving average of $37.16 and a 200 day moving average of $35.67. 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 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 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%. On average, sell-side analysts anticipate that Toast, Inc. will post 0.39 earnings per share 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.