Toast, Inc. (NYSE:TOST) Shares Purchased by Voloridge Investment Management LLC

Voloridge Investment Management LLC boosted its holdings in Toast, Inc. (NYSE:TOST) by 898.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,858,720 shares of the company’s stock after purchasing an additional 2,572,503 shares during the quarter. Voloridge Investment Management LLC owned about 0.61% of Toast worth $104,200,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TOST. Arrowstreet Capital Limited Partnership acquired a new position in Toast in the fourth quarter valued at approximately $282,010,000. Norges Bank purchased a new stake in Toast in the fourth quarter valued at approximately $205,888,000. FMR LLC lifted its stake in Toast by 22.1% in the fourth 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 fourth 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 during the last quarter. Finally, Two Sigma Investments LP lifted its stake in Toast by 914.4% in the fourth quarter. Two Sigma Investments LP now owns 2,846,200 shares of the company’s stock valued at $103,744,000 after buying an additional 2,565,634 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Toast Price Performance

Shares of TOST stock opened at $44.68 on Tuesday. The business’s fifty day moving average price is $35.75 and its 200 day moving average price is $37.51. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $45.56. The firm has a market capitalization of $22.25 billion, a PE ratio of -4,463.54, a P/E/G ratio of 2.16 and a beta of 1.98.

Toast (NYSE:TOST) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share 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 business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Equities research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TOST shares. Keefe, Bruyette & Woods boosted their price objective on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Thursday, February 20th. DA Davidson reduced their price objective on Toast from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Royal Bank of Canada boosted their price objective on Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Oppenheimer started coverage on Toast in a research note on Friday, January 24th. They issued an “outperform” rating and a $46.00 price objective for the company. Finally, UBS Group boosted their price objective on Toast from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Toast currently has an average rating of “Hold” and an average price target of $40.91.

Insider Buying and Selling

In other Toast news, Director Deval L. Patrick sold 34,222 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $33.01, for a total value of $1,129,668.22. Following the sale, the director now owns 13,260 shares of the company’s stock, valued at approximately $437,712.60. This represents a 72.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Stephen Fredette sold 47,073 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $35.03, for a total value of $1,648,967.19. Following the completion of the sale, the president now directly owns 1,491,773 shares in the company, valued at $52,256,808.19. This trade represents a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 416,991 shares of company stock valued at $15,242,750 over the last quarter. Company insiders own 13.32% of the company’s stock.

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.