Toast, Inc. (NYSE:TOST) Shares Sold by Park West Asset Management LLC

Park West Asset Management LLC cut its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 55.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 292,075 shares of the company's stock after selling 359,294 shares during the period. Park West Asset Management LLC owned 0.06% of Toast worth $10,646,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock valued at $1,548,186,000 after purchasing an additional 4,147,430 shares during the period. Capital International Investors raised its stake in Toast by 1.9% during the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company's stock valued at $1,529,657,000 after acquiring an additional 785,641 shares during the last quarter. FMR LLC lifted its position in Toast by 22.1% during the 4th quarter. FMR LLC now owns 29,853,639 shares of the company's stock worth $1,088,165,000 after acquiring an additional 5,403,896 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Toast in the 4th quarter valued at approximately $282,010,000. Finally, Geode Capital Management LLC increased its holdings in shares of Toast by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company's stock valued at $256,970,000 after purchasing an additional 195,805 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on TOST. Keefe, Bruyette & Woods lifted their price objective on shares of Toast from $40.00 to $42.00 and gave the company a "market perform" rating in a research report on Thursday, February 20th. BMO Capital Markets boosted their price target on shares of Toast from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Oppenheimer began coverage on shares of Toast in a research report on Friday, January 24th. They issued an "outperform" rating and a $46.00 price objective for the company. Wells Fargo & Company raised Toast from an "underweight" rating to an "overweight" rating and increased their target price for the stock from $30.00 to $39.00 in a research note on Thursday, April 10th. Finally, BNP Paribas set a $37.00 price objective on Toast and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Toast currently has a consensus rating of "Hold" and an average price target of $40.35.

Insider Buying and Selling at Toast

In related news, 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 value of $1,129,668.22. Following the transaction, the director now owns 13,260 shares in the company, valued at approximately $437,712.60. This trade represents a 72.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Fredette sold 1,068 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the sale, the president now owns 1,644,656 shares of the company's stock, valued at $65,177,717.28. This represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 340,770 shares of company stock worth $11,803,911 in the last 90 days. 13.32% of the stock is owned by company insiders.

Toast Trading Up 2.2 %

Shares of NYSE TOST traded up $0.78 during midday trading on Friday, reaching $36.08. 6,503,078 shares of the stock were exchanged, compared to its average volume of 6,850,778. The stock has a 50 day moving average price of $34.60 and a 200-day moving average price of $36.61. The company has a market capitalization of $17.95 billion, a P/E ratio of -3,604.40, a P/E/G ratio of 2.16 and a beta of 2.00. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12.

Toast (NYSE:TOST - Get Free Report) last released its 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 return on equity of 1.54% and a net margin of 0.40%. The firm had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.32 billion. On average, analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

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.