Mariner LLC Has $6.78 Million Stock Position in Toast, Inc. (NYSE:TOST)

Mariner LLC lessened its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 16.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 185,919 shares of the company's stock after selling 37,135 shares during the period. Mariner LLC's holdings in Toast were worth $6,777,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TOST. Charles Schwab Investment Management Inc. grew its holdings in 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 purchasing an additional 155,446 shares in the last quarter. Jupiter Asset Management Ltd. boosted its position in Toast by 134.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company's stock valued at $14,319,000 after buying an additional 225,215 shares during the last quarter. New York Life Investment Management LLC acquired a new stake in shares of Toast during the fourth quarter valued at about $1,572,000. Forsta AP Fonden increased 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 worth $8,540,000 after acquiring an additional 153,900 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Toast by 129,058.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company's stock worth $75,466,000 after acquiring an additional 2,072,680 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Performance

Shares of TOST stock traded up $0.53 during trading on Friday, hitting $36.48. 2,564,568 shares of the company were exchanged, compared to its average volume of 6,802,063. The business's 50-day simple moving average is $35.06 and its 200 day simple moving average is $36.21. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12. The firm has a market capitalization of $18.02 billion, a price-to-earnings ratio of -3,640.26, a P/E/G ratio of 2.16 and a beta of 2.00.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.32 billion. On average, equities analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Toast news, Director Deval L. Patrick sold 34,222 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $33.01, for a total value of $1,129,668.22. Following the completion of the sale, the director now directly owns 13,260 shares of the company's stock, valued at $437,712.60. The trade was a 72.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Elena Gomez sold 2,052 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $81,320.76. Following the transaction, the chief financial officer now owns 160,498 shares in the company, valued at $6,360,535.74. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 340,770 shares of company stock valued at $11,803,911 in the last three months. Insiders own 13.32% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Wolfe Research upgraded Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective for the company in a research note on Wednesday. BMO Capital Markets raised their price target on shares of Toast from $46.00 to $48.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. UBS Group lifted their price objective on shares of Toast from $41.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, Royal Bank of Canada boosted their target price on Toast from $40.00 to $45.00 and gave the stock a "sector perform" 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. According to data from MarketBeat, Toast has a consensus rating of "Hold" and a consensus price target of $40.26.

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.