Frontier Capital Management Co. LLC Purchases 173,833 Shares of Toast, Inc. (NYSE:TOST)

Frontier Capital Management Co. LLC increased its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 1,200.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 188,312 shares of the company's stock after acquiring an additional 173,833 shares during the period. Frontier Capital Management Co. LLC's holdings in Toast were worth $6,864,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Toast by 10.8% in the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares during the last quarter. Capital International Investors grew its stake in Toast by 1.9% during the fourth quarter. Capital International Investors now owns 41,961,233 shares of the company's stock worth $1,529,657,000 after buying an additional 785,641 shares during the last quarter. FMR LLC increased its holdings in shares of Toast by 22.1% during the fourth 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. Arrowstreet Capital Limited Partnership bought a new position in shares of Toast in the fourth quarter valued at approximately $282,010,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Toast by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company's stock worth $256,970,000 after acquiring an additional 195,805 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Toast Trading Up 2.5%

Toast stock traded up $1.08 during midday trading on Tuesday, reaching $43.95. The stock had a trading volume of 18,207,877 shares, compared to its average volume of 6,872,649. The company has a fifty day moving average price of $34.89 and a two-hundred day moving average price of $37.05. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $45.53. The company has a market capitalization of $21.86 billion, a P/E ratio of -4,390.61, a PEG ratio of 2.16 and a beta of 1.98.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $1.32 billion. On average, equities research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 44,056 shares of Toast stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.15, for a total transaction of $1,548,568.40. Following the transaction, the president now directly owns 1,447,717 shares of the company's stock, valued at $50,887,252.55. The trade was a 2.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher P. Comparato sold 70,000 shares of the company's stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $34.21, for a total transaction of $2,394,700.00. Following the completion of the sale, the director now owns 179,316 shares of the company's stock, 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 quarter, insiders sold 335,991 shares of company stock worth $11,614,520. Insiders own 13.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TOST shares. Oppenheimer started coverage on Toast in a report on Friday, January 24th. They set an "outperform" rating and a $46.00 price target for the company. JPMorgan Chase & Co. raised their target price on Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. The Goldman Sachs Group cut their price target on Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Evercore ISI assumed coverage on Toast in a research note on Wednesday, April 9th. They set an "in-line" rating and a $29.00 price target on the stock. Finally, Royal Bank of Canada lifted their price objective on Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 20th. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $40.91.

Toast 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.