Bridgewater Associates LP Increases Position in Toast, Inc. (NYSE:TOST)

Bridgewater Associates LP lifted its position in Toast, Inc. (NYSE:TOST) by 322.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,367,909 shares of the company’s stock after acquiring an additional 1,807,180 shares during the period. Bridgewater Associates LP’s holdings in Toast were worth $86,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Toast by 10.8% in the 4th 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 last quarter. FMR LLC lifted its position in Toast by 22.1% during the fourth quarter. FMR LLC now owns 29,853,639 shares of the company’s stock valued at $1,088,165,000 after purchasing an additional 5,403,896 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Toast in the fourth quarter valued at $282,010,000. Geode Capital Management LLC grew its position in Toast by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company’s stock worth $256,970,000 after purchasing an additional 195,805 shares during the period. Finally, Norges Bank purchased a new position in shares of Toast during the 4th quarter valued at about $205,888,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling

In related news, CFO Elena Gomez sold 2,052 shares of the firm’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 $81,320.76. Following the completion of the sale, the chief financial officer now directly owns 160,498 shares in the company, valued at approximately $6,360,535.74. This trade represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Fredette sold 1,068 shares of Toast 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 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. Over the last 90 days, insiders have sold 270,770 shares of company stock worth $9,409,211. 13.32% of the stock is owned by corporate insiders.

Toast Stock Up 1.5 %

Toast stock opened at $34.59 on Tuesday. The company has a fifty day simple moving average of $35.97 and a 200-day simple moving average of $36.02. The firm has a market capitalization of $17.09 billion, a price-to-earnings ratio of -3,455.54, 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.

Toast (NYSE:TOST) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business 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, research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

TOST has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a research note on Thursday, February 20th. Wells Fargo & Company upgraded Toast from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $30.00 to $39.00 in a research report on Thursday, April 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Toast in a report on Thursday, February 20th. UBS Group increased their price target on shares of Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Oppenheimer began coverage on shares of Toast in a research report on Friday, January 24th. They set an “outperform” rating and a $46.00 price target on the stock. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and an average price target of $40.27.

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.