Comerica Bank Boosts Stake in Toast, Inc. (NYSE:TOST)

Comerica Bank increased its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 303.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,378 shares of the company's stock after purchasing an additional 25,850 shares during the quarter. Comerica Bank's holdings in Toast were worth $1,253,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Voleon Capital Management LP purchased a new stake in Toast in the 4th quarter worth about $8,181,000. Utah Retirement Systems boosted its position in Toast by 2.5% during the fourth quarter. Utah Retirement Systems now owns 24,400 shares of the company's stock worth $889,000 after purchasing an additional 600 shares during the period. Soros Fund Management LLC bought a new position in Toast during the fourth quarter worth about $2,813,000. PDT Partners LLC increased its stake in shares of Toast by 28.1% in the fourth quarter. PDT Partners LLC now owns 115,125 shares of the company's stock worth $4,196,000 after purchasing an additional 25,283 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Toast during the 4th quarter valued at approximately $4,075,000. 82.91% of the stock is owned by institutional investors.

Insider Transactions at Toast

In related news, Director Christopher P. Comparato sold 70,000 shares of the stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $34.21, for a total transaction of $2,394,700.00. Following the completion of the transaction, the director now directly owns 179,316 shares of the company's stock, valued at approximately $6,134,400.36. This represents a 28.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Deval L. Patrick sold 34,222 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $33.01, for a total value of $1,129,668.22. Following 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 position. The disclosure for this sale can be found here. Insiders sold 335,991 shares of company stock worth $11,614,520 over the last quarter. 13.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wolfe Research raised shares of Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 target price on the stock in a report on Wednesday, April 23rd. Morgan Stanley raised their target price on Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. The Goldman Sachs Group decreased their price target on Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Oppenheimer assumed coverage on shares of Toast in a research report on Friday, January 24th. They issued an "outperform" rating and a $46.00 price objective for the company. Finally, BNP Paribas set a $37.00 price objective on shares of Toast and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, Toast presently has an average rating of "Hold" and a consensus price target of $40.91.

Toast Price Performance

Toast stock traded up $0.89 during mid-day trading on Wednesday, reaching $44.85. 8,119,125 shares of the company traded hands, compared to its average volume of 6,877,651. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $45.56. The firm's 50 day moving average price is $35.09 and its 200 day moving average price is $37.10. The firm has a market capitalization of $22.31 billion, a price-to-earnings ratio of -4,480.52, a P/E/G ratio of 2.16 and a beta of 1.98.

Toast (NYSE:TOST - Get Free Report) 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 during the quarter, compared to analysts' expectations of $1.32 billion. On average, sell-side analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

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.