Gilder Gagnon Howe & Co. LLC Acquires 445,916 Shares of Toast, Inc. (NYSE:TOST)

Gilder Gagnon Howe & Co. LLC grew its stake in shares of Toast, Inc. (NYSE:TOST) by 12.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,039,303 shares of the company’s stock after purchasing an additional 445,916 shares during the quarter. Toast makes up approximately 1.6% of Gilder Gagnon Howe & Co. LLC’s investment portfolio, making the stock its 15th largest position. Gilder Gagnon Howe & Co. LLC owned approximately 0.86% of Toast worth $147,233,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership bought a new position in Toast during the 4th quarter worth about $282,010,000. Norges Bank purchased a new stake in shares of Toast in the 4th quarter worth approximately $205,888,000. FMR LLC boosted its stake in shares of 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 in the last quarter. Vanguard Group Inc. increased its holdings in Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock valued at $1,548,186,000 after buying an additional 4,147,430 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Toast by 255.0% in the fourth quarter. Renaissance Technologies LLC now owns 3,504,212 shares of the company’s stock worth $127,729,000 after buying an additional 2,517,012 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Insider Activity

In other Toast news, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the completion of the transaction, the president now owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Jonathan Vassil sold 1,006 shares of Toast stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $39,867.78. Following the transaction, the executive now owns 48,488 shares of the company’s stock, valued at $1,921,579.44. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 340,770 shares of company stock worth $11,803,911 in the last 90 days. 13.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TOST shares. Keefe, Bruyette & Woods raised their price target on shares of Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a report on Thursday, February 20th. Canaccord Genuity Group increased their target price 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. JPMorgan Chase & Co. lifted their price target on shares of Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. UBS Group increased their price objective on Toast from $41.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Wolfe Research raised Toast from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research report on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.26.

Toast Stock Performance

TOST opened at $36.12 on Friday. The stock has a market capitalization of $17.84 billion, a P/E ratio of -3,608.39, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. Toast, Inc. has a one year low of $21.32 and a one year high of $44.12. The business’s 50-day simple moving average is $34.85 and its 200-day simple moving average is $36.31.

Toast (NYSE:TOST) last issued its quarterly 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 company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. On average, equities research analysts forecast that Toast, Inc. will post 0.39 EPS for the current fiscal year.

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.