Granahan Investment Management LLC Has $57.53 Million Stock Position in Toast, Inc. (NYSE:TOST)

Granahan Investment Management LLC lessened its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 30.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,578,370 shares of the company's stock after selling 702,557 shares during the quarter. Toast makes up approximately 2.4% of Granahan Investment Management LLC's investment portfolio, making the stock its 8th largest position. Granahan Investment Management LLC owned 0.34% of Toast worth $57,532,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TOST. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Toast by 0.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company's stock valued at $1,408,000 after buying an additional 301 shares in the last quarter. Keel Point LLC boosted its holdings in shares of Toast by 2.7% in the fourth quarter. Keel Point LLC now owns 12,269 shares of the company's stock worth $447,000 after acquiring an additional 326 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Toast by 11.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company's stock valued at $125,000 after purchasing an additional 358 shares in the last quarter. Mirador Capital Partners LP raised its stake in shares of Toast by 0.9% during the 4th quarter. Mirador Capital Partners LP now owns 41,938 shares of the company's stock valued at $1,529,000 after purchasing an additional 360 shares during the period. Finally, Blue Trust Inc. boosted its stake in Toast by 120.4% in the 4th 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. Institutional investors and hedge funds own 82.91% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TOST. JPMorgan Chase & Co. raised their price objective on shares of Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. The Goldman Sachs Group decreased their price target on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Needham & Company LLC reissued a "buy" rating and set a $50.00 price objective on shares of Toast in a research note on Thursday, February 20th. Keefe, Bruyette & Woods boosted their target price on Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a research report on Thursday, February 20th. Finally, Morgan Stanley raised their price target on Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $40.91.

Toast Stock Up 2.5%

TOST traded up $1.08 during midday trading on Tuesday, hitting $43.95. 18,207,877 shares of the company traded hands, compared to its average volume of 6,872,649. The company's 50-day moving average is $34.89 and its 200 day moving average is $37.05. The firm has a market capitalization of $21.86 billion, a PE ratio of -4,390.61, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $45.53.

Toast (NYSE:TOST - Get Free Report) last issued 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). The company had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. On average, sell-side analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Stephen Fredette sold 70,340 shares of the firm's stock in a transaction on 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 directly owns 1,574,316 shares of the company's stock, valued at approximately $53,322,082.92. This trade represents a 4.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Deval L. Patrick sold 34,222 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were 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 of the company's stock, valued at approximately $437,712.60. This trade represents a 72.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 335,991 shares of company stock valued at $11,614,520 over the last 90 days. Company 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.