Man Group plc Has $29.63 Million Holdings in Toast, Inc. (NYSE:TOST)

Man Group plc boosted its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 46.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 813,005 shares of the company's stock after buying an additional 258,677 shares during the quarter. Man Group plc owned about 0.17% of Toast worth $29,634,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in shares of Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company's stock valued at $25,000 after buying an additional 378 shares during the period. Piscataqua Savings Bank bought a new stake in shares of Toast in the fourth quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Toast in the fourth quarter valued at about $34,000. SBI Securities Co. Ltd. bought a new stake in shares of Toast in the fourth quarter valued at about $35,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Toast in the fourth quarter valued at about $40,000. 82.91% of the stock is currently owned by institutional investors.

Toast Stock Down 0.1%

TOST stock traded down $0.04 during midday trading on Monday, reaching $44.68. The company's stock had a trading volume of 4,926,628 shares, compared to its average volume of 6,862,559. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $45.56. The stock has a market cap 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. The business's 50-day simple moving average is $35.75 and its 200-day simple moving average is $37.51.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $1.34 billion for 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%. As a group, equities analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wolfe Research upgraded shares of Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 target price for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company raised their price target on shares of Toast from $39.00 to $46.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Robert W. Baird raised their price target on shares of Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Morgan Stanley raised their price target on shares of Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a report on Thursday, February 20th. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Toast currently has a consensus rating of "Hold" and an average price target of $40.91.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 70,340 shares of Toast 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 sale, the president now directly owns 1,574,316 shares in the company, valued at approximately $53,322,082.92. The trade was a 4.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Deval L. Patrick sold 34,222 shares of the business's stock in a transaction dated 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 transaction, the director now owns 13,260 shares in the company, valued at $437,712.60. This represents a 72.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 416,991 shares of company stock valued at $15,242,750. 13.32% of the stock is owned by corporate insiders.

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.