Toast, Inc. (NYSE:TOST) Shares Bought by Twin Capital Management Inc.

Twin Capital Management Inc. boosted its position in Toast, Inc. (NYSE:TOST) by 5.4% during the 4th quarter, HoldingsChannel reports. The firm owned 59,881 shares of the company’s stock after buying an additional 3,088 shares during the quarter. Twin Capital Management Inc.’s holdings in Toast were worth $2,183,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in 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 buying an additional 4,147,430 shares in the last quarter. FMR LLC lifted its position in Toast by 22.1% in the fourth 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 period. ValueAct Holdings L.P. bought a new position in Toast during the 3rd quarter valued at $438,301,000. State Street Corp raised its stake in shares of Toast by 2.5% in the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after buying an additional 206,789 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Toast during the fourth quarter valued at about $282,010,000. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Toast

In other news, President Stephen Fredette sold 1,068 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 $42,324.84. Following the completion of the transaction, the president now directly owns 1,644,656 shares of the company’s stock, valued at approximately $65,177,717.28. This trade represents a 0.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elena Gomez sold 2,052 shares of the company’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. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 270,770 shares of company stock worth $9,409,211 over the last three months. Company insiders own 13.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TOST shares. Oppenheimer initiated coverage on shares of Toast in a report on Friday, January 24th. They issued an “outperform” rating and a $46.00 price target for the company. Royal Bank of Canada lifted their price target on shares of Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Morgan Stanley raised their price objective on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. BMO Capital Markets lifted their price target on Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Toast in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.38.

Toast Price Performance

TOST stock opened at $30.58 on Monday. The company has a 50-day moving average of $37.16 and a two-hundred day moving average of $35.79. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The stock 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.

Toast (NYSE:TOST) last announced its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Equities analysts expect that Toast, Inc. will post 0.39 EPS 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.