Raymond James Financial Inc. Purchases Shares of 588,881 Toast, Inc. (NYSE:TOST)

Raymond James Financial Inc. acquired a new position in shares of Toast, Inc. (NYSE:TOST) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 588,881 shares of the company’s stock, valued at approximately $21,465,000.

Other hedge funds and other institutional investors have also 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 bought a new position in shares of Toast during the fourth quarter worth about $205,888,000. FMR LLC raised its position in Toast by 22.1% in the 4th quarter. FMR LLC now owns 29,853,639 shares of the company’s stock valued at $1,088,165,000 after buying an additional 5,403,896 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 acquiring an additional 4,147,430 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Toast by 255.0% during the 4th quarter. Renaissance Technologies LLC now owns 3,504,212 shares of the company’s stock worth $127,729,000 after acquiring an additional 2,517,012 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Stock Up 0.0 %

NYSE TOST opened at $34.30 on Friday. The firm has a 50-day moving average price of $35.43 and a two-hundred day moving average price of $36.14. Toast, Inc. has a 12-month low of $21.32 and a 12-month high of $44.12. The company has a market capitalization of $16.95 billion, a P/E ratio of -3,426.97, a P/E/G ratio of 2.16 and a beta of 2.00.

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 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 analyst estimates of $1.32 billion. Equities analysts expect that Toast, Inc. will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Oppenheimer began coverage on shares of Toast in a report on Friday, January 24th. They issued an “outperform” rating and a $46.00 price objective on the stock. The Goldman Sachs Group cut their price target on shares of Toast from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. UBS Group raised 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. Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Toast in a report on Thursday, February 20th. Finally, Robert W. Baird boosted their price target on Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Toast presently has a consensus rating of “Hold” and an average price target of $40.09.

Insider Transactions at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the sale, the general counsel now owns 209,206 shares of the company’s stock, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $34.21, for a total value of $2,394,700.00. Following the completion of the transaction, the director now owns 179,316 shares in the company, valued at approximately $6,134,400.36. The trade was a 28.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 340,770 shares of company stock valued at $11,803,911. 13.32% of the stock is owned by corporate insiders.

Toast 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.