AXQ Capital LP Sells 31,240 Shares of Toast, Inc. (NYSE:TOST)

AXQ Capital LP decreased its position in shares of Toast, Inc. (NYSE:TOST) by 61.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 19,826 shares of the company’s stock after selling 31,240 shares during the period. AXQ Capital LP’s holdings in Toast were worth $723,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Toast by 2.3% during the third quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after acquiring an additional 155,212 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of Toast by 40.6% during the third quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock valued at $6,464,000 after purchasing an additional 65,957 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Toast by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock worth $107,108,000 after purchasing an additional 155,446 shares in the last quarter. Qsemble Capital Management LP grew its stake in shares of Toast by 52.1% in the 3rd quarter. Qsemble Capital Management LP now owns 67,796 shares of the company’s stock worth $1,919,000 after buying an additional 23,231 shares during the last quarter. Finally, FMR LLC increased its position in Toast by 50.5% during the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after buying an additional 8,205,053 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TOST. Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Toast in a report on Thursday, February 20th. Royal Bank of Canada raised their price objective on shares of Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Keefe, Bruyette & Woods upped their target price on shares of Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a research note on Thursday, February 20th. Morgan Stanley raised their target price on shares of Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Oppenheimer began coverage on Toast in a report on Friday, January 24th. They set an “outperform” rating and a $46.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $40.48.

Toast Stock Performance

TOST opened at $35.20 on Friday. The stock has a market cap of $17.39 billion, a price-to-earnings ratio of -3,516.78, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. The firm’s fifty day moving average is $37.82 and its 200 day moving average is $35.07. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12.

Toast (NYSE:TOST) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 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 business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. On average, equities research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling

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

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.