Whale Rock Capital Management LLC Sells 138,294 Shares of Toast, Inc. (NYSE:TOST)

Whale Rock Capital Management LLC decreased its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,263,710 shares of the company's stock after selling 138,294 shares during the period. Toast makes up approximately 3.1% of Whale Rock Capital Management LLC's holdings, making the stock its 11th largest holding. Whale Rock Capital Management LLC owned approximately 1.54% of Toast worth $264,762,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC raised its holdings 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 buying an additional 85,171 shares in the last quarter. Carnegie Investment Counsel bought a new position in Toast during the fourth quarter valued at approximately $233,000. Merit Financial Group LLC purchased a new position in shares of Toast during the fourth quarter worth approximately $234,000. LVW Advisors LLC purchased a new position in shares of Toast during the fourth quarter worth approximately $295,000. Finally, Perpetual Ltd bought a new stake in shares of Toast in the 4th quarter worth approximately $60,878,000. Institutional investors own 82.91% of the company's stock.

Insider Buying and Selling

In other news, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the completion of the transaction, the director now directly owns 164,796 shares in the company, valued at approximately $5,884,865.16. This trade represents a 29.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 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 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 three months. 13.32% of the stock is owned by corporate insiders.

Toast Stock Performance

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

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share 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 net margin of 0.40% and a return on equity of 1.54%. On average, analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TOST. Morgan Stanley increased their target price on shares of Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Oppenheimer initiated coverage on Toast in a research note on Friday, January 24th. They set an "outperform" rating and a $46.00 price objective on the stock. DA Davidson lowered 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. Wells Fargo & Company increased their target price on Toast from $39.00 to $46.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Robert W. Baird lifted their price target on Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Toast presently has an average rating of "Hold" and a consensus price target of $40.91.

About Toast

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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