Gotham Asset Management LLC Buys 23,424 Shares of Toast, Inc. (NYSE:TOST)

Gotham Asset Management LLC boosted its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 140.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,067 shares of the company's stock after buying an additional 23,424 shares during the quarter. Gotham Asset Management LLC's holdings in Toast were worth $1,460,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Toast by 10.8% in the fourth 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 period. Capital International Investors lifted its position in shares of 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 purchasing an additional 785,641 shares in the last quarter. FMR LLC boosted its stake in shares of Toast by 22.1% in the 4th quarter. FMR LLC now owns 29,853,639 shares of the company's stock valued at $1,088,165,000 after purchasing an additional 5,403,896 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Toast in the 4th quarter valued at approximately $282,010,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Toast by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company's stock valued at $256,970,000 after purchasing an additional 195,805 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TOST. Piper Sandler increased their price target on Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Morgan Stanley upped their price target on shares of Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Evercore ISI initiated coverage on Toast in a report on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 price objective for the company. DA Davidson cut their target price on Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Finally, BMO Capital Markets boosted their target price on shares of Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $40.91.

Insider Buying and Selling at Toast

In related news, Director Paul D. Bell sold 11,000 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $45.13, for a total transaction of $496,430.00. Following the completion of the sale, the director now owns 229,680 shares in the company, valued at approximately $10,365,458.40. This represents a 4.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christopher P. Comparato sold 70,000 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $35.71, for a total value of $2,499,700.00. Following the transaction, the director now owns 164,796 shares in the company, valued at approximately $5,884,865.16. This trade represents a 29.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 416,991 shares of company stock worth $15,242,750. 13.32% of the stock is owned by corporate insiders.

Toast Stock Down 0.9%

NYSE:TOST traded down $0.38 during trading hours on Tuesday, reaching $44.29. The company had a trading volume of 5,505,942 shares, compared to its average volume of 6,857,157. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $45.56. The firm has a market cap of $22.06 billion, a price-to-earnings ratio of -4,424.58, a P/E/G ratio of 2.16 and a beta of 1.98. The business's 50-day simple moving average is $35.75 and its two-hundred day simple moving average is $37.51.

Toast (NYSE:TOST - Get Free Report) last issued its 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 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 analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

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.