Tidal Investments LLC Has $2.73 Million Holdings in Toast, Inc. (NYSE:TOST)

Tidal Investments LLC boosted its stake in Toast, Inc. (NYSE:TOST - Free Report) by 423.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,963 shares of the company's stock after buying an additional 60,653 shares during the period. Tidal Investments LLC's holdings in Toast were worth $2,732,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership purchased a new stake in Toast during the fourth quarter worth about $282,010,000. Norges Bank purchased a new stake in Toast during the fourth quarter worth about $205,888,000. FMR LLC increased its stake in Toast by 22.1% during the fourth quarter. FMR LLC now owns 29,853,639 shares of the company's stock worth $1,088,165,000 after purchasing an additional 5,403,896 shares during the period. Vanguard Group Inc. increased its stake in Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Toast by 255.0% during the fourth quarter. Renaissance Technologies LLC now owns 3,504,212 shares of the company's stock worth $127,729,000 after purchasing an additional 2,517,012 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Stock Performance

Shares of TOST traded up $0.56 during trading hours on Tuesday, hitting $43.05. 2,060,044 shares of the company were exchanged, compared to its average volume of 7,033,911. The company has a market cap of $21.44 billion, a PE ratio of -4,301.00, a PEG ratio of 2.16 and a beta of 1.98. The firm's 50 day moving average is $36.63 and its 200-day moving average is $37.87. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $45.56.

Wall Street Analysts Forecast Growth

TOST has been the subject of a number of analyst reports. Keefe, Bruyette & Woods boosted their price objective on Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a research report on Thursday, February 20th. The Goldman Sachs Group lowered their price objective on Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Evercore ISI initiated coverage on Toast in a research report on Wednesday, April 9th. They set an "in-line" rating and a $29.00 price objective for the company. Morgan Stanley boosted their price objective on Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Piper Sandler boosted their price objective on Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Twelve research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Toast presently has an average rating of "Moderate Buy" and an average price target of $40.91.

Insider Buying and Selling

In other Toast news, President Stephen Fredette sold 70,340 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was 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 owns 1,574,316 shares of the company's stock, valued at $53,322,082.92. This represents a 4.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul D. Bell sold 11,000 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $45.13, for a total value of $496,430.00. Following the completion of the transaction, the director now directly owns 229,680 shares of the company's stock, valued at approximately $10,365,458.40. This trade represents a 4.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 416,991 shares of company stock valued at $15,242,750. 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.