Zacks Investment Management Sells 51,033 Shares of Toast, Inc. (NYSE:TOST)

Zacks Investment Management lowered its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 15.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 286,984 shares of the company's stock after selling 51,033 shares during the quarter. Zacks Investment Management owned approximately 0.06% of Toast worth $10,461,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 4,147,430 shares during the period. FMR LLC increased its holdings in Toast by 22.1% during the 4th quarter. FMR LLC now owns 29,853,639 shares of the company's stock worth $1,088,165,000 after purchasing an additional 5,403,896 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Toast during the 4th quarter valued at $282,010,000. Geode Capital Management LLC grew its position in shares of Toast by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company's stock worth $256,970,000 after acquiring an additional 195,805 shares in the last quarter. Finally, Norges Bank bought a new stake in Toast during the fourth quarter valued at $205,888,000. Institutional investors and hedge funds own 82.91% of the company's stock.

Insider Activity

In other Toast news, Director Christopher P. Comparato sold 70,000 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the completion of the sale, the director now owns 164,796 shares in the company, valued at approximately $5,884,865.16. The trade was a 29.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of Toast 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 sale, the general counsel now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 340,770 shares of company stock valued at $11,803,911 over the last 90 days. 13.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TOST shares. BMO Capital Markets upped their price objective on Toast from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Robert W. Baird increased their price objective on Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. The Goldman Sachs Group dropped their price target 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. Keefe, Bruyette & Woods upped their price objective on Toast from $40.00 to $42.00 and gave the company a "market perform" rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group upped their price target on Toast from $43.00 to $48.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Thirteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $40.09.

Toast Price Performance

Shares of NYSE TOST traded up $0.49 during trading hours on Tuesday, reaching $33.57. The stock had a trading volume of 741,448 shares, compared to its average volume of 6,809,097. The company has a market cap of $16.58 billion, a price-to-earnings ratio of -3,359.64, a PEG ratio of 2.16 and a beta of 2.00. The business's fifty day moving average is $35.30 and its two-hundred day moving average is $36.23. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The company had revenue of $1.34 billion for 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%. Sell-side analysts forecast 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.