Toast, Inc. (NYSE:TOST) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in Toast, Inc. (NYSE:TOST - Free Report) by 24.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,241 shares of the company's stock after selling 22,842 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Toast were worth $2,597,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Toast during the 4th quarter worth approximately $95,000. Gerber Kawasaki Wealth & Investment Management acquired a new position in shares of Toast during the fourth quarter worth $371,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Toast in the 4th quarter valued at about $10,640,000. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of Toast by 12.4% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 4,039,303 shares of the company's stock valued at $147,233,000 after purchasing an additional 445,916 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Toast by 524.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,633,386 shares of the company's stock valued at $59,537,000 after purchasing an additional 1,372,021 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TOST. DA Davidson dropped their price target on Toast from $42.00 to $40.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Robert W. Baird increased their target price on shares of Toast from $38.00 to $40.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. UBS Group increased their price objective on Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their price target on shares of Toast from $36.00 to $42.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group upped their target price on shares of Toast from $43.00 to $48.00 and gave the stock a "buy" 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 stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $40.91.

Insider Activity

In related news, President Stephen Fredette sold 70,340 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $33.87, for a total value of $2,382,415.80. Following the transaction, the president now owns 1,574,316 shares in the company, valued at $53,322,082.92. The trade was a 4.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Deval L. Patrick sold 34,222 shares of the business's stock in a transaction that occurred 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 $437,712.60. The trade was a 72.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 335,991 shares of company stock valued at $11,614,520 in the last quarter. Insiders own 13.32% of the company's stock.

Toast Stock Performance

Shares of TOST traded up $0.89 during midday trading on Wednesday, hitting $44.85. 8,119,125 shares of the company traded hands, compared to its average volume of 6,877,651. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $45.56. The firm has a 50 day moving average of $35.09 and a 200-day moving average of $37.10. The stock has a market cap of $22.31 billion, a price-to-earnings ratio of -4,480.52, a PEG ratio of 2.16 and a beta of 1.98.

Toast (NYSE:TOST - Get Free Report) last released its 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 return on equity of 1.54% and a net margin of 0.40%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Sell-side analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

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.