Toast, Inc. (NYSE:TOST) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its holdings in shares of Toast, Inc. (NYSE:TOST) by 255.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,504,212 shares of the company’s stock after buying an additional 2,517,012 shares during the quarter. Renaissance Technologies LLC owned approximately 0.74% of Toast worth $127,729,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position in Toast by 2.5% during the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after acquiring an additional 206,789 shares during the period. iA Global Asset Management Inc. purchased a new stake in shares of Toast during the third quarter worth about $332,000. XTX Topco Ltd raised its position in shares of Toast by 225.3% during the 3rd quarter. XTX Topco Ltd now owns 32,882 shares of the company’s stock worth $931,000 after purchasing an additional 22,774 shares during the last quarter. MML Investors Services LLC lifted its stake in Toast by 40.6% in the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock valued at $6,464,000 after buying an additional 65,957 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Toast in the 3rd quarter worth about $3,283,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insiders Place Their Bets

In related news, Director Christopher P. Comparato sold 70,000 shares of the company’s stock in a transaction that occurred 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 directly owns 164,796 shares in the company, valued at approximately $5,884,865.16. This represents a 29.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brian R. Elworthy sold 653 shares of the firm’s stock in a transaction that occurred on 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 directly owns 209,206 shares in the company, valued at approximately $8,290,833.78. This trade represents a 0.31 % 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.

Toast Price Performance

NYSE TOST opened at $29.77 on Wednesday. The stock has a market capitalization of $14.71 billion, a P/E ratio of -2,974.33, a PEG ratio of 2.16 and a beta of 2.00. The firm’s 50-day moving average is $36.60 and its two-hundred day moving average is $35.79. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $44.12.

Toast (NYSE:TOST) last issued 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). The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. As a group, analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TOST shares. BNP Paribas set a $37.00 target price on Toast and gave the company a “neutral” rating in a research report on Wednesday, February 19th. UBS Group lifted their target price on shares of Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their target price on shares of Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Toast in a research report on Thursday, February 20th. Finally, Royal Bank of Canada increased their price objective on shares of Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. One 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. According to MarketBeat, Toast currently has a consensus rating of “Hold” and an average target price of $40.38.

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.