Durable Capital Partners LP Reduces Position in Toast, Inc. (NYSE:TOST)

Durable Capital Partners LP lowered its stake in Toast, Inc. (NYSE:TOST - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,444,158 shares of the company's stock after selling 819,737 shares during the quarter. Toast makes up about 4.6% of Durable Capital Partners LP's holdings, making the stock its 5th biggest position. Durable Capital Partners LP owned about 3.28% of Toast worth $562,940,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of TOST. Charles Schwab Investment Management Inc. increased its position in Toast by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock worth $107,108,000 after purchasing an additional 155,446 shares in the last quarter. Jupiter Asset Management Ltd. raised its position 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 buying an additional 225,215 shares during the last quarter. New York Life Investment Management LLC purchased a new position in shares of Toast during the fourth quarter valued at approximately $1,572,000. Forsta AP Fonden boosted its position in Toast by 191.4% during the fourth quarter. Forsta AP Fonden now owns 234,300 shares of the company's stock worth $8,540,000 after acquiring an additional 153,900 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Toast in the 4th quarter worth approximately $83,684,000. Institutional investors and hedge funds own 82.91% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada raised their price objective on Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th. Robert W. Baird lifted their price target on Toast from $38.00 to $40.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Oppenheimer initiated coverage on shares of Toast in a report on Friday, January 24th. They set an "outperform" rating and a $46.00 price objective on the stock. DA Davidson lowered their target price on shares of Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Finally, BMO Capital Markets increased 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. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $40.91.

Insider Activity at Toast

In other news, Director Deval L. Patrick sold 34,222 shares of the company'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 transaction of $1,129,668.22. Following the completion of the transaction, the director now directly owns 13,260 shares of the company's stock, valued at approximately $437,712.60. This represents a 72.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Fredette sold 70,340 shares of the firm's stock in a transaction 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 owns 1,574,316 shares in the company, valued at $53,322,082.92. The trade was a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 335,991 shares of company stock valued at $11,614,520 over the last ninety days. Corporate insiders own 13.32% of the company's stock.

Toast Trading Up 11.5 %

TOST stock traded up $4.20 during trading on Friday, reaching $40.85. The stock had a trading volume of 23,998,970 shares, compared to its average volume of 6,809,108. The firm has a fifty day moving average price of $34.56 and a 200 day moving average price of $36.86. The company has a market capitalization of $20.32 billion, a P/E ratio of -4,080.92, a PEG ratio of 2.16 and a beta of 1.98. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $44.12.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The business had revenue of $1.34 billion for 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%. Sell-side analysts predict that Toast, Inc. will post 0.39 EPS 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.