2,392,000 Shares in Toast, Inc. (NYSE:TOST) Acquired by Two Sigma Advisers LP

Two Sigma Advisers LP bought a new position in shares of Toast, Inc. (NYSE:TOST) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,392,000 shares of the company’s stock, valued at approximately $87,188,000. Two Sigma Advisers LP owned 0.51% of Toast at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. grew its stake in Toast by 120.4% in the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after buying an additional 378 shares in the last quarter. Piscataqua Savings Bank purchased a new position in Toast in the 4th quarter worth approximately $26,000. Stonebridge Financial Group LLC purchased a new position in Toast in the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. purchased a new position in Toast in the 4th quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Toast in the 4th quarter worth approximately $40,000. Institutional investors own 82.91% of the company’s stock.

Toast Trading Down 1.2%

Shares of NYSE TOST opened at $44.69 on Monday. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $45.56. The firm has a market capitalization of $22.25 billion, a PE ratio of -4,464.04, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. The firm has a fifty day simple moving average of $35.55 and a two-hundred day simple moving average of $37.41.

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). Toast had a return on equity of 1.54% and a net margin of 0.40%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. On average, sell-side analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on TOST. DA Davidson cut their price target on shares of Toast from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Canaccord Genuity Group upped their price objective on shares of Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. BMO Capital Markets upped their price objective on shares of Toast from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, May 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Toast in a research note on Thursday, February 20th. Finally, Evercore ISI initiated coverage on shares of Toast in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $29.00 price objective for the company. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Toast has a consensus rating of “Hold” and a consensus price target of $40.91.

Insiders Place Their Bets

In related news, President Stephen Fredette sold 70,340 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $33.87, for a total value of $2,382,415.80. Following the completion of the transaction, the president now directly owns 1,574,316 shares in the company, valued at $53,322,082.92. This trade represents a 4.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Deval L. Patrick sold 34,222 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the completion of the transaction, the director now owns 13,260 shares of the company’s stock, valued at approximately $437,712.60. The trade was a 72.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 416,991 shares of company stock worth $15,242,750. 13.32% of the stock is currently owned by corporate insiders.

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.