Toast, Inc. (NYSE:TOST) Shares Sold by SCS Capital Management LLC

SCS Capital Management LLC trimmed its position in Toast, Inc. (NYSE:TOST - Free Report) by 50.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 395,772 shares of the company's stock after selling 395,772 shares during the quarter. SCS Capital Management LLC owned 0.08% of Toast worth $14,426,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TOST. Vanguard Group Inc. raised its holdings in Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares in the last quarter. Capital International Investors raised its stake in shares of Toast by 1.9% during the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company's stock worth $1,529,657,000 after acquiring an additional 785,641 shares in the last quarter. FMR LLC raised its stake in shares of 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 in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Toast during the 4th quarter worth approximately $282,010,000. Finally, Geode Capital Management LLC raised its stake in shares of Toast by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company's stock worth $256,970,000 after acquiring an additional 195,805 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Toast news, CFO Elena Gomez sold 2,052 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $81,320.76. Following the sale, the chief financial officer now owns 160,498 shares of the company's stock, valued at $6,360,535.74. The trade was a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Stephen Fredette sold 70,340 shares of the business's stock in a transaction that occurred 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 completion of 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 disclosure for this sale can be found here. In the last three months, insiders have sold 340,770 shares of company stock worth $11,803,911. Insiders own 13.32% of the company's stock.

Toast Stock Performance

Shares of Toast stock traded up $0.02 on Thursday, hitting $35.60. The company's stock had a trading volume of 2,866,786 shares, compared to its average volume of 6,612,235. Toast, Inc. has a 1 year low of $21.32 and a 1 year high of $44.12. The firm has a fifty day moving average price of $34.64 and a 200-day moving average price of $36.46. The company has a market capitalization of $17.71 billion, a price-to-earnings ratio of -3,556.24, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00.

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 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 during the quarter, compared to analysts' expectations of $1.32 billion. As a group, analysts forecast that Toast, Inc. will post 0.39 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wolfe Research upgraded shares of 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, April 23rd. BMO Capital Markets boosted their price objective 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. The Goldman Sachs Group reduced their price objective on shares of Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. UBS Group boosted their price objective on shares of Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a research report on Thursday, February 20th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $40.35.

Toast 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.