Toast, Inc. (NYSE:TOST) Shares Sold by Xn LP

Xn LP decreased its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,630,231 shares of the company's stock after selling 159,508 shares during the quarter. Toast accounts for approximately 6.7% of Xn LP's investment portfolio, making the stock its 5th largest holding. Xn LP owned 0.98% of Toast worth $168,772,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TOST. Vident Advisory LLC acquired a new position in Toast in the fourth quarter valued at approximately $490,000. Sone Capital Management LLC acquired a new position in Toast in the fourth quarter valued at approximately $2,416,000. Two Sigma Advisers LP acquired a new position in Toast in the fourth quarter valued at approximately $87,188,000. Two Sigma Investments LP lifted its holdings in Toast by 914.4% in the fourth quarter. Two Sigma Investments LP now owns 2,846,200 shares of the company's stock valued at $103,744,000 after acquiring an additional 2,565,634 shares during the period. Finally, Tidal Investments LLC lifted its holdings in Toast by 423.9% in the fourth quarter. Tidal Investments LLC now owns 74,963 shares of the company's stock valued at $2,732,000 after acquiring an additional 60,653 shares during the period. Institutional investors and hedge funds own 82.91% of the company's stock.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 70,340 shares of the firm's stock in a transaction 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 sale, the president now directly owns 1,574,316 shares of the company's stock, valued at $53,322,082.92. This trade represents a 4.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul D. Bell sold 11,000 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $45.13, for a total value of $496,430.00. Following the completion of the sale, the director now directly owns 229,680 shares of the company's stock, valued at $10,365,458.40. This trade represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 416,991 shares of company stock valued at $15,242,750 in the last three months. 13.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TOST shares. Piper Sandler boosted their price target on Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, May 9th. BMO Capital Markets boosted their price target on Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, May 12th. BNP Paribas set a $37.00 price target on Toast and gave the company a "neutral" rating in a report on Wednesday, February 19th. Canaccord Genuity Group boosted their price objective on Toast from $43.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Finally, UBS Group boosted their price objective on Toast from $41.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $40.91.

Toast Stock Performance

NYSE TOST opened at $44.68 on Tuesday. The business has a fifty day moving average price of $35.75 and a 200 day moving average price of $37.51. Toast, Inc. has a one year low of $21.32 and a one year high of $45.56. The company has a market cap of $22.25 billion, a P/E ratio of -4,463.54, a P/E/G ratio of 2.16 and a beta of 1.98.

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). Toast had a net margin of 0.40% and a return on equity of 1.54%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. As a group, sell-side analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal year.

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.

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