QRG Capital Management Inc. Has $1.16 Million Stake in Toast, Inc. (NYSE:TOST)

QRG Capital Management Inc. lifted its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 117.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,768 shares of the company's stock after acquiring an additional 34,504 shares during the period. QRG Capital Management Inc.'s holdings in Toast were worth $1,164,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Toast by 11.1% during the third quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company's stock valued at $657,032,000 after purchasing an additional 3,494,579 shares during the period. Morgan Stanley boosted its stake in shares of Toast by 149.3% in the 3rd quarter. Morgan Stanley now owns 12,007,286 shares of the company's stock worth $224,896,000 after buying an additional 7,191,595 shares during the last quarter. Abdiel Capital Advisors LP grew its holdings in shares of Toast by 0.8% in the third quarter. Abdiel Capital Advisors LP now owns 10,876,373 shares of the company's stock worth $203,714,000 after acquiring an additional 86,536 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Toast by 69.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,600,377 shares of the company's stock valued at $120,523,000 after purchasing an additional 2,708,597 shares in the last quarter. Finally, Eventide Asset Management LLC grew its holdings in Toast by 82.4% during the third quarter. Eventide Asset Management LLC now owns 2,926,074 shares of the company's stock valued at $54,805,000 after purchasing an additional 1,322,208 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, President Stephen Fredette sold 2,272 shares of the company's stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $53,164.80. Following the transaction, the president now owns 2,835,759 shares of the company's stock, valued at approximately $66,356,760.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Toast news, CRO Jonathan Vassil sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total value of $2,524,000.00. Following the completion of the transaction, the executive now owns 22,956 shares of the company's stock, valued at approximately $579,409.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Fredette sold 2,272 shares of the business's stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $53,164.80. Following the completion of the transaction, the president now owns 2,835,759 shares of the company's stock, valued at approximately $66,356,760.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 193,010 shares of company stock valued at $4,711,760. 13.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on TOST. Needham & Company LLC increased their price objective on shares of Toast from $26.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, May 8th. Mizuho upped their price objective on Toast from $17.00 to $21.00 and gave the company a "neutral" rating in a research report on Thursday, May 9th. Robert W. Baird lifted their target price on Toast from $24.00 to $28.00 and gave the stock an "outperform" rating in a report on Monday, April 15th. Keefe, Bruyette & Woods raised their price target on Toast from $25.00 to $26.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 8th. Finally, Redburn Atlantic upgraded shares of Toast from a "neutral" rating to a "buy" rating and set a $28.00 price objective on the stock in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Toast presently has an average rating of "Hold" and an average price target of $25.80.

Toast Stock Performance

Shares of NYSE TOST traded down $0.18 during mid-day trading on Thursday, reaching $27.53. The company's stock had a trading volume of 6,722,800 shares, compared to its average volume of 8,245,679. The stock has a market capitalization of $12.47 billion, a P/E ratio of -55.48 and a beta of 1.77. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $27.90. The stock has a 50-day moving average of $24.04 and a two-hundred day moving average of $19.94.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, hitting analysts' consensus estimates of ($0.15). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The firm's revenue was up 31.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) earnings per share. Analysts predict that Toast, Inc. will post -0.16 EPS for the current fiscal year.

Toast Company 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.