Soros Fund Management LLC Invests $2.81 Million in Toast, Inc. (NYSE:TOST)

Soros Fund Management LLC purchased a new position in Toast, Inc. (NYSE:TOST - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 77,184 shares of the company's stock, valued at approximately $2,813,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TOST. Blue Trust Inc. raised its holdings in Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company's stock worth $25,000 after purchasing an additional 378 shares during the period. Piscataqua Savings Bank acquired a new stake in Toast during the 4th quarter worth $26,000. Stonebridge Financial Group LLC acquired a new stake in Toast during the 4th quarter worth $34,000. SBI Securities Co. Ltd. bought a new position in Toast during the fourth quarter worth about $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Toast in the fourth quarter valued at about $40,000. 82.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TOST. Evercore ISI began coverage on Toast in a report on Wednesday, April 9th. They set an "in-line" rating and a $29.00 price objective on the stock. Royal Bank of Canada lifted their price target on shares of Toast from $40.00 to $45.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. BMO Capital Markets increased their price objective on shares of Toast from $46.00 to $48.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Oppenheimer initiated coverage on shares of Toast in a research report on Friday, January 24th. They issued an "outperform" rating and a $46.00 price objective on the stock. Finally, Morgan Stanley reduced their target price on shares of Toast from $50.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $40.35.

Insider Buying and Selling at Toast

In related 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 sale, the general counsel now directly owns 209,206 shares in the company, valued at $8,290,833.78. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Stephen Fredette sold 1,068 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the transaction, the president now owns 1,644,656 shares in the company, valued at $65,177,717.28. The trade was a 0.06 % 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 worth $11,803,911 over the last ninety days. Insiders own 13.32% of the company's stock.

Toast Stock Performance

NYSE:TOST traded up $0.78 during mid-day trading on Friday, hitting $36.08. The stock had a trading volume of 6,503,078 shares, compared to its average volume of 6,848,739. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12. The stock has a market cap of $17.95 billion, a price-to-earnings ratio of -3,604.40, a PEG ratio of 2.16 and a beta of 2.00. The company's 50 day simple moving average is $34.60 and its 200 day simple moving average is $36.56.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. As a group, equities 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.