Ameriprise Financial Inc. Has $17.75 Million Position in Toast, Inc. (NYSE:TOST)

Ameriprise Financial Inc. lifted its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 1,801.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 487,090 shares of the company's stock after purchasing an additional 461,474 shares during the period. Ameriprise Financial Inc. owned 0.10% of Toast worth $17,754,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Ardsley Advisory Partners LP bought a new stake in Toast in the 4th quarter valued at $1,276,000. Mercer Global Advisors Inc. ADV lifted its position in Toast by 136.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 131,970 shares of the company's stock worth $4,810,000 after acquiring an additional 76,075 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Toast in the fourth quarter valued at about $774,000. Keel Point LLC boosted its position in shares of Toast by 2.7% in the fourth quarter. Keel Point LLC now owns 12,269 shares of the company's stock valued at $447,000 after acquiring an additional 326 shares during the period. Finally, Talon Private Wealth LLC bought a new stake in shares of Toast in the fourth quarter valued at about $489,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Deval L. Patrick sold 34,222 shares of Toast stock in a transaction dated 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 completion of the transaction, the director now directly owns 13,260 shares of the company's stock, valued at approximately $437,712.60. This trade represents a 72.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul D. Bell sold 11,000 shares of Toast stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $45.13, for a total value of $496,430.00. Following the completion of the transaction, the director now directly owns 229,680 shares of the company's stock, valued at approximately $10,365,458.40. This trade represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 416,991 shares of company stock valued at $15,242,750 over the last 90 days. 13.32% of the stock is owned by insiders.

Toast Stock Down 0.1%

Shares of TOST stock traded down $0.04 during mid-day trading on Monday, reaching $44.68. 4,926,628 shares of the stock traded hands, compared to its average volume of 6,862,559. The stock's fifty day simple moving average is $35.75 and its two-hundred day simple moving average is $37.51. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $45.56. The company has a market cap of $22.25 billion, a price-to-earnings ratio of -4,463.54, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). Toast had a net margin of 0.40% and a return on equity of 1.54%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. On average, equities research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their target price on shares of Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Royal Bank of Canada boosted their target price on shares of Toast from $40.00 to $45.00 and gave the company a "sector perform" rating in a research report on Thursday, February 20th. Needham & Company LLC reissued a "buy" rating and set a $50.00 price target on shares of Toast in a research report on Thursday, February 20th. Keefe, Bruyette & Woods increased their price target 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, Canaccord Genuity Group increased their price target on Toast from $43.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $40.91.

Toast Company 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.