Wisconsin Capital Management LLC Cuts Position in Toast, Inc. (NYSE:TOST)

Wisconsin Capital Management LLC reduced its stake in Toast, Inc. (NYSE:TOST - Free Report) by 15.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 135,825 shares of the company's stock after selling 25,000 shares during the period. Toast accounts for about 2.7% of Wisconsin Capital Management LLC's holdings, making the stock its 14th biggest position. Wisconsin Capital Management LLC's holdings in Toast were worth $4,951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. ValueAct Holdings L.P. purchased a new stake in Toast in the third quarter valued at $438,301,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Toast in the 4th quarter valued at about $282,010,000. Norges Bank purchased a new position in Toast during the 4th quarter worth approximately $205,888,000. Vanguard Group Inc. increased its position in Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock worth $1,548,186,000 after buying an additional 4,147,430 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Toast by 129,058.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company's stock valued at $75,466,000 after buying an additional 2,072,680 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TOST shares. BMO Capital Markets upped their target price on shares of Toast from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Oppenheimer assumed coverage on Toast in a report on Friday, January 24th. They set an "outperform" rating and a $46.00 price target for the company. Wells Fargo & Company boosted their price objective on shares of Toast from $25.00 to $30.00 and gave the company an "underweight" rating in a research note on Thursday, January 16th. The Goldman Sachs Group lowered their target price on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada lifted their price objective on Toast from $40.00 to $45.00 and gave the company a "sector perform" rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $40.38.

Remove Ads

Insider Activity at Toast

In other news, General Counsel Brian R. Elworthy sold 653 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the transaction, the general counsel now owns 209,206 shares of the company's stock, valued at $8,290,833.78. This represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Elena Gomez sold 2,052 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 transaction of $81,320.76. Following the transaction, the chief financial officer now owns 160,498 shares in the company, valued at approximately $6,360,535.74. The trade was a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 270,770 shares of company stock valued at $9,409,211. Company insiders own 13.32% of the company's stock.

Toast Trading Down 6.4 %

Shares of NYSE:TOST traded down $2.08 on Friday, hitting $30.58. The company had a trading volume of 10,413,952 shares, compared to its average volume of 6,769,749. The company has a market cap of $15.10 billion, a PE ratio of -3,054.55, a PEG ratio of 2.16 and a beta of 2.00. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The business has a 50 day moving average of $37.16 and a 200 day moving average of $35.67.

Toast (NYSE:TOST - Get Free Report) last released its 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). Toast had a net margin of 0.40% and a return on equity of 1.54%. The firm had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.32 billion. As a group, equities analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

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.