Flight Deck Capital LP Trims Stake in Toast, Inc. (NYSE:TOST)

Flight Deck Capital LP decreased its position in Toast, Inc. (NYSE:TOST - Free Report) by 28.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,862 shares of the company's stock after selling 31,512 shares during the quarter. Toast accounts for 3.3% of Flight Deck Capital LP's portfolio, making the stock its 12th largest position. Flight Deck Capital LP's holdings in Toast were worth $2,947,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in shares of Toast by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock valued at $107,108,000 after acquiring an additional 155,446 shares during the period. Jupiter Asset Management Ltd. grew its position in shares of Toast by 134.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company's stock worth $14,319,000 after purchasing an additional 225,215 shares in the last quarter. New York Life Investment Management LLC bought a new stake in Toast during the 4th quarter valued at approximately $1,572,000. Forsta AP Fonden raised its position in shares of Toast by 191.4% during the fourth quarter. Forsta AP Fonden now owns 234,300 shares of the company's stock valued at $8,540,000 after buying an additional 153,900 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of Toast during the fourth quarter valued at approximately $83,684,000. Institutional investors own 82.91% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 target price on shares of Toast in a research note on Thursday, February 20th. UBS Group lifted 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. BMO Capital Markets increased their price target on Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday. Morgan Stanley raised their price target on Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Robert W. Baird upped their price objective on Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $40.91.

Toast Stock Up 0.3%

Shares of TOST traded up $0.14 during mid-day trading on Thursday, reaching $45.23. The company had a trading volume of 4,879,432 shares, compared to its average volume of 6,872,821. The stock has a market capitalization of $22.50 billion, a P/E ratio of -4,515.98, a PEG ratio of 2.16 and a beta of 1.98. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $45.56. The stock has a 50 day moving average of $35.09 and a two-hundred day moving average of $37.10.

Toast (NYSE:TOST - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. On average, sell-side analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Activity

In other Toast news, President Stephen Fredette sold 70,340 shares of the business's stock in a transaction on Friday, March 7th. The shares were 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 in the company, valued at $53,322,082.92. The trade was a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Deval L. Patrick sold 34,222 shares of Toast stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the sale, the director now directly owns 13,260 shares of the company's stock, valued at approximately $437,712.60. This trade represents a 72.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 335,991 shares of company stock valued at $11,614,520. 13.32% of the stock is currently owned by company 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.