Lead Edge Capital Management LLC Sells 1,460,000 Shares of Toast, Inc. (NYSE:TOST)

Lead Edge Capital Management LLC lessened its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 58.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,038,900 shares of the company's stock after selling 1,460,000 shares during the period. Toast accounts for approximately 12.8% of Lead Edge Capital Management LLC's holdings, making the stock its 4th biggest position. Lead Edge Capital Management LLC owned 0.22% of Toast worth $37,868,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Blue Trust Inc. boosted 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 last quarter. Piscataqua Savings Bank bought a new position in Toast in the fourth quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Toast during the 4th quarter valued at about $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of Toast during the 4th quarter valued at about $35,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Toast in the 4th quarter worth approximately $40,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Elena Gomez sold 2,052 shares of the firm'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 $81,320.76. Following the completion of the sale, the chief financial officer now owns 160,498 shares of the company's stock, valued at $6,360,535.74. This trade represents a 1.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Stephen Fredette sold 1,068 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the transaction, the president now directly owns 1,644,656 shares in the company, valued at $65,177,717.28. This represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 340,770 shares of company stock valued at $11,803,911 over the last 90 days. Corporate insiders own 13.32% of the company's stock.

Toast Stock Performance

Toast stock traded down $0.38 during trading hours on Monday, hitting $35.72. The company had a trading volume of 2,597,308 shares, compared to its average volume of 6,809,164. The firm has a market cap of $17.64 billion, a P/E ratio of -3,573.53, a P/E/G ratio of 2.16 and a beta of 2.00. The company has a 50-day moving average price of $34.85 and a two-hundred day moving average price of $36.41. 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 released its quarterly earnings data 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). The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. As a group, equities research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on TOST shares. JPMorgan Chase & Co. upped their target price on shares of Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Morgan Stanley dropped their price target on Toast from $50.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company raised shares of Toast from an "underweight" rating to an "overweight" rating and boosted their target price for the stock from $30.00 to $39.00 in a report on Thursday, April 10th. UBS Group lifted their price target on shares of Toast from $41.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Finally, Wolfe Research raised shares of Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective for the company in a report on Wednesday, April 23rd. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Toast presently has an average rating of "Hold" and an average price target of $40.26.

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.