Geode Capital Management LLC Boosts Position in Toast, Inc. (NYSE:TOST)

Geode Capital Management LLC grew its holdings in Toast, Inc. (NYSE:TOST) by 2.9% during the 4th quarter, Holdings Channel reports. The fund owned 7,061,739 shares of the company’s stock after purchasing an additional 195,805 shares during the period. Geode Capital Management LLC’s holdings in Toast were worth $256,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. MML Investors Services LLC grew its position in Toast by 40.6% during the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock worth $6,464,000 after purchasing an additional 65,957 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Toast by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock worth $107,108,000 after acquiring an additional 155,446 shares during the period. Zacks Investment Management raised its position in Toast by 14.2% during the third quarter. Zacks Investment Management now owns 338,017 shares of the company’s stock valued at $9,569,000 after acquiring an additional 42,100 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in Toast by 134.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company’s stock valued at $14,319,000 after acquiring an additional 225,215 shares during the period. Finally, New York Life Investment Management LLC purchased a new stake in Toast in the 4th quarter worth approximately $1,572,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insiders Place Their Bets

In related news, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the completion of the sale, the president now owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. This trade represents a 0.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher P. Comparato sold 70,000 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $35.71, for a total value of $2,499,700.00. Following the transaction, the director now owns 164,796 shares in the company, valued at $5,884,865.16. This trade represents a 29.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 270,770 shares of company stock valued at $9,409,211 over the last quarter. 13.32% of the stock is owned by insiders.

Toast Price Performance

TOST opened at $30.58 on Friday. The firm has a market capitalization of $15.10 billion, a price-to-earnings ratio of -3,054.55, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. The company’s 50 day simple moving average is $37.16 and its two-hundred day simple moving average is $35.67. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $44.12.

Toast (NYSE:TOST) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.32 billion. On average, equities analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Canaccord Genuity Group upped their price objective on shares of Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Wells Fargo & Company raised their target price on Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. BNP Paribas set a $37.00 price target on Toast and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley raised their price objective on Toast from $46.00 to $50.00 and gave the company an “overweight” 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 assigned a buy rating to the company. According to data from MarketBeat.com, Toast presently has an average rating of “Hold” and a consensus price target of $40.38.

Toast Company 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.