Arrowstreet Capital Limited Partnership Purchases Shares of 7,736,911 Toast, Inc. (NYSE:TOST)

Arrowstreet Capital Limited Partnership bought a new stake in Toast, Inc. (NYSE:TOST) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,736,911 shares of the company’s stock, valued at approximately $282,010,000.

Other large investors also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Toast by 0.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company’s stock valued at $1,408,000 after buying an additional 301 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Toast by 11.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company’s stock valued at $125,000 after acquiring an additional 358 shares in the last quarter. Mirador Capital Partners LP increased its position in Toast by 0.9% during the fourth quarter. Mirador Capital Partners LP now owns 41,938 shares of the company’s stock worth $1,529,000 after acquiring an additional 360 shares during the period. Blue Trust Inc. increased its position in Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after acquiring an additional 378 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in Toast by 19.8% in the 4th quarter. Farther Finance Advisors LLC now owns 2,435 shares of the company’s stock worth $89,000 after purchasing an additional 402 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Analyst Ratings Changes

TOST has been the subject of a number of analyst reports. Canaccord Genuity Group lifted their price target on shares of Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley upped their target price on Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. DA Davidson restated a “neutral” rating and issued a $38.00 price target (down previously from $44.00) on shares of Toast in a research report on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Toast in a research report on Thursday, February 20th. Finally, BMO Capital Markets increased their price objective on shares of Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Toast currently has an average rating of “Hold” and a consensus price target of $40.48.

Toast Stock Performance

Shares of NYSE TOST opened at $33.53 on Friday. The company’s 50 day moving average price is $37.72 and its 200-day moving average price is $35.48. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The company has a market capitalization of $16.56 billion, a P/E ratio of -3,349.25, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST) last released its 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). 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 analyst estimates of $1.32 billion. Analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Activity

In other Toast news, CFO Elena Gomez sold 2,052 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 $81,320.76. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brian R. Elworthy sold 653 shares of the 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 sale, the general counsel now owns 209,206 shares of the company’s stock, valued at approximately $8,290,833.78. This represents a 0.31 % decrease in their position. 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. Company insiders own 13.32% of the company’s stock.

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.