Two Sigma Advisers LP Takes $87.19 Million Position in Toast, Inc. (NYSE:TOST)

Two Sigma Advisers LP acquired a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 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 reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TOST. Barclays PLC raised its position in shares of Toast by 38.0% during the 3rd quarter. Barclays PLC now owns 309,426 shares of the company's stock valued at $8,758,000 after purchasing an additional 85,171 shares during the period. Carnegie Investment Counsel bought a new stake in shares of Toast during the 4th quarter valued at $233,000. Merit Financial Group LLC bought a new stake in shares of Toast during the 4th quarter valued at $234,000. LVW Advisors LLC bought a new stake in shares of Toast during the 4th quarter valued at $295,000. Finally, Perpetual Ltd bought a new stake in shares of Toast during the 4th quarter valued at $60,878,000. 82.91% of the stock is currently owned by institutional investors.

Toast Price Performance

Shares of NYSE:TOST traded down $0.20 during trading hours on Thursday, hitting $42.64. The company's stock had a trading volume of 7,404,120 shares, compared to its average volume of 6,861,750. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $45.56. The company has a market capitalization of $21.23 billion, a price-to-earnings ratio of -4,259.34, a P/E/G ratio of 2.16 and a beta of 1.98. The firm's fifty day moving average price is $36.31 and its 200 day moving average price is $37.67.

Toast (NYSE:TOST - Get Free Report) last posted 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). The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. On average, equities research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Toast news, Director Deval L. Patrick sold 34,222 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the transaction, the director now owns 13,260 shares in the company, valued at approximately $437,712.60. This represents a 72.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Stephen Fredette sold 70,340 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the transaction, the president now owns 1,574,316 shares in the company, valued at $53,322,082.92. The trade was a 4.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 416,991 shares of company stock worth $15,242,750 in the last 90 days. 13.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TOST. BMO Capital Markets raised their target price 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. Piper Sandler raised their target price on shares of Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. raised their target price on shares of Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a research note 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. Finally, UBS Group raised their target price on shares of Toast from $41.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $40.91.

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.