Park West Asset Management LLC Sells 359,294 Shares of Toast, Inc. (NYSE:TOST)

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

A number of other large investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Toast by 5.6% in the fourth 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 during the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of Toast by 134.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company's stock valued at $14,319,000 after purchasing an additional 225,215 shares during the last quarter. New York Life Investment Management LLC purchased a new stake in shares of Toast in the fourth quarter valued at about $1,572,000. Forsta AP Fonden raised its holdings in shares of Toast by 191.4% in the fourth quarter. Forsta AP Fonden now owns 234,300 shares of the company's stock valued at $8,540,000 after purchasing an additional 153,900 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings 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 valued at $75,466,000 after purchasing an additional 2,072,680 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 target price on shares of Toast in a report on Thursday, February 20th. Royal Bank of Canada raised their price objective on shares of Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th. Evercore ISI began coverage on shares of Toast in a report on Wednesday, April 9th. They set an "in-line" rating and a $29.00 price objective for the company. BNP Paribas set a $37.00 price objective on shares of Toast and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, Oppenheimer began coverage on shares of Toast in a report on Friday, January 24th. They set an "outperform" rating and a $46.00 price objective for the company. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Toast presently has an average rating of "Hold" and an average price target of $40.26.

Toast Price Performance

Shares of TOST opened at $35.72 on Tuesday. Toast, Inc. has a one year low of $21.32 and a one year high of $44.12. The company has a 50-day simple moving average of $34.76 and a two-hundred day simple moving average of $36.47. The firm has a market capitalization of $17.65 billion, a PE ratio of -3,568.43, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00.

Toast (NYSE:TOST - Get Free Report) last released 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). Toast had a net margin of 0.40% and a return on equity of 1.54%. The business had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.32 billion. Analysts expect that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Brian R. Elworthy sold 653 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the transaction, the general counsel now owns 209,206 shares in the company, valued at $8,290,833.78. The trade was a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Stephen Fredette sold 1,068 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the transaction, the president now directly owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 340,770 shares of company stock worth $11,803,911. Insiders own 13.32% of the company's stock.

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.

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