Toast, Inc. (NYSE:TOST) is ValueAct Holdings L.P.'s 6th Largest Position

ValueAct Holdings L.P. reduced its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 44.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,548,600 shares of the company's stock after selling 6,933,600 shares during the quarter. Toast accounts for 7.1% of ValueAct Holdings L.P.'s holdings, making the stock its 6th largest position. ValueAct Holdings L.P. owned approximately 1.81% of Toast worth $311,596,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Vident Advisory LLC purchased a new stake in shares of Toast in the fourth quarter valued at approximately $490,000. Sone Capital Management LLC purchased a new stake in shares of Toast in the fourth quarter valued at approximately $2,416,000. Two Sigma Advisers LP purchased a new stake in shares of Toast during the fourth quarter worth approximately $87,188,000. Two Sigma Investments LP increased its position in shares of Toast by 914.4% during the fourth quarter. Two Sigma Investments LP now owns 2,846,200 shares of the company's stock worth $103,744,000 after purchasing an additional 2,565,634 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in Toast by 423.9% in the 4th quarter. Tidal Investments LLC now owns 74,963 shares of the company's stock valued at $2,732,000 after purchasing an additional 60,653 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Toast news, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $35.71, for a total value of $2,499,700.00. Following the transaction, the director now directly owns 164,796 shares in the company, valued at approximately $5,884,865.16. The trade was a 29.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Deval L. Patrick sold 34,222 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 13,260 shares in the company, valued at approximately $437,712.60. This represents a 72.07% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 416,991 shares of company stock valued at $15,242,750. 13.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. UBS Group boosted their target price on Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Robert W. Baird raised their target price on Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. DA Davidson cut their target price on Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. BMO Capital Markets raised their target price on Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 target price on shares of Toast in a research note on Thursday, February 20th. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Toast has an average rating of "Hold" and a consensus price target of $40.91.

Toast Stock Performance

Shares of NYSE TOST opened at $44.68 on Tuesday. The stock's 50-day simple moving average is $35.75 and its 200-day simple moving average is $37.51. The firm has a market capitalization of $22.25 billion, a PE ratio of -4,463.54, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $45.56.

Toast (NYSE:TOST - Get Free Report) last released 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 company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. On average, sell-side analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal 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.

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