NZS Capital LLC Sells 77,460 Shares of Toast, Inc. (NYSE:TOST)

NZS Capital LLC reduced its stake in Toast, Inc. (NYSE:TOST - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,136,908 shares of the company's stock after selling 77,460 shares during the period. Toast makes up approximately 1.8% of NZS Capital LLC's investment portfolio, making the stock its 19th biggest position. NZS Capital LLC owned about 0.24% of Toast worth $41,440,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TOST. Arrowstreet Capital Limited Partnership bought a new position in Toast in the fourth quarter valued at approximately $282,010,000. Norges Bank bought a new position in shares of Toast in the 4th quarter valued at $205,888,000. FMR LLC raised its holdings in shares of Toast by 22.1% during the 4th quarter. FMR LLC now owns 29,853,639 shares of the company's stock worth $1,088,165,000 after buying an additional 5,403,896 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Toast by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock worth $1,548,186,000 after buying an additional 4,147,430 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Toast by 255.0% in the fourth quarter. Renaissance Technologies LLC now owns 3,504,212 shares of the company's stock valued at $127,729,000 after acquiring an additional 2,517,012 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Toast Stock Performance

Shares of TOST stock traded up $0.86 during trading hours on Friday, hitting $36.16. 3,712,999 shares of the company were exchanged, compared to its average volume of 6,836,430. The company has a 50 day simple moving average of $34.60 and a two-hundred day simple moving average of $36.51. The firm has a market cap of $17.99 billion, a P/E ratio of -3,613.39, a P/E/G ratio of 2.16 and a beta of 2.00. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12.

Toast (NYSE:TOST - Get Free Report) last posted 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). The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. As a group, sell-side analysts expect that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. DA Davidson dropped 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. Royal Bank of Canada raised 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. BNP Paribas set a $37.00 price target on shares of Toast and gave the stock a "neutral" rating in a report on Wednesday, February 19th. The Goldman Sachs Group dropped their price target on Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company upgraded Toast from an "underweight" rating to an "overweight" rating and boosted their price objective for the stock from $30.00 to $39.00 in a research report on Thursday, April 10th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Toast has an average rating of "Hold" and a consensus target price of $40.35.

Insider Buying and Selling

In other news, President Stephen Fredette sold 1,068 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the completion of the sale, the president now directly owns 1,644,656 shares of the company's stock, valued at $65,177,717.28. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $34.21, for a total value of $2,394,700.00. Following the transaction, the director now directly owns 179,316 shares in the company, valued at approximately $6,134,400.36. The trade was a 28.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 340,770 shares of company stock valued at $11,803,911. 13.32% of the stock is owned by company insiders.

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.