Voloridge Investment Management LLC Boosts Stock Holdings in Toast, Inc. (NYSE:TOST)

Voloridge Investment Management LLC grew its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 898.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,858,720 shares of the company's stock after buying an additional 2,572,503 shares during the period. Voloridge Investment Management LLC owned 0.61% of Toast worth $104,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Toast by 0.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company's stock valued at $1,408,000 after acquiring an additional 301 shares in the last quarter. Keel Point LLC grew its stake in Toast by 2.7% during the fourth quarter. Keel Point LLC now owns 12,269 shares of the company's stock valued at $447,000 after acquiring an additional 326 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Toast by 11.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company's stock valued at $125,000 after acquiring an additional 358 shares in the last quarter. Blue Trust Inc. grew its stake in Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company's stock valued at $25,000 after acquiring an additional 378 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Toast by 19.8% during the fourth quarter. Farther Finance Advisors LLC now owns 2,435 shares of the company's stock valued at $89,000 after acquiring an additional 402 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Toast Price Performance

Shares of Toast stock traded down $0.20 during trading on Friday, hitting $42.48. The stock had a trading volume of 4,795,381 shares, compared to its average volume of 6,856,461. The firm's fifty day simple moving average is $36.49 and its 200-day simple moving average is $37.79. The stock has a market cap of $21.16 billion, a PE ratio of -4,243.76, a PEG ratio of 2.16 and a beta of 1.98. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $45.56.

Toast (NYSE:TOST - Get Free Report) last released 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 the consensus estimate of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. Analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on TOST shares. Canaccord Genuity Group raised their target price on shares of Toast from $43.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. The Goldman Sachs Group cut their target price on shares of Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Robert W. Baird raised their target price on shares of Toast from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. 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. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a research note on Thursday, February 20th. Twelve research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $40.91.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 70,340 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $53,322,082.92. This trade represents a 4.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul D. Bell sold 11,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $45.13, for a total transaction of $496,430.00. Following the transaction, the director now directly owns 229,680 shares in the company, valued at $10,365,458.40. This trade represents a 4.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 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.

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.