Bridgewater Associates LP Buys 1,807,180 Shares of Toast, Inc. (NYSE:TOST)

Bridgewater Associates LP lifted its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 322.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,367,909 shares of the company's stock after buying an additional 1,807,180 shares during the period. Bridgewater Associates LP owned about 0.50% of Toast worth $86,310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TOST. Geode Capital Management LLC grew its holdings in shares of Toast by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company's stock valued at $193,992,000 after acquiring an additional 155,212 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Toast by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock valued at $107,108,000 after purchasing an additional 155,446 shares in the last quarter. Jupiter Asset Management Ltd. boosted its holdings in Toast by 134.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company's stock worth $14,319,000 after purchasing an additional 225,215 shares in the last quarter. New York Life Investment Management LLC acquired a new position in Toast during the fourth quarter worth $1,572,000. Finally, Forsta AP Fonden raised its holdings in Toast by 191.4% during the fourth quarter. Forsta AP Fonden now owns 234,300 shares of the company's stock valued at $8,540,000 after buying an additional 153,900 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TOST shares. Needham & Company LLC restated a "buy" rating and issued a $50.00 target price on shares of Toast in a report on Thursday, February 20th. BNP Paribas set a $37.00 target price on shares of Toast and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Wells Fargo & Company upgraded shares of Toast from an "underweight" rating to an "overweight" rating and upped their price target for the company from $30.00 to $39.00 in a report on Thursday, April 10th. UBS Group lifted their price objective on Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, Royal Bank of Canada raised their target price on Toast from $40.00 to $45.00 and gave the company a "sector perform" rating in a report on Thursday, February 20th. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $40.09.

Toast Price Performance

NYSE:TOST traded up $0.01 on Friday, reaching $34.30. 4,887,706 shares of the company's stock were exchanged, compared to its average volume of 6,836,423. The stock has a fifty day simple moving average of $35.43 and a 200-day simple moving average of $36.14. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $44.12. The firm has a market cap of $16.95 billion, a price-to-earnings ratio of -3,426.97, a P/E/G ratio of 2.16 and a beta of 2.00.

Toast (NYSE:TOST - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. As a group, sell-side analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 1,068 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the transaction, the general counsel now owns 209,206 shares in the company, valued at $8,290,833.78. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 340,770 shares of company stock valued at $11,803,911 in the last 90 days. Corporate 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.