Voleon Capital Management LP Takes $8.18 Million Position in Toast, Inc. (NYSE:TOST)

Voleon Capital Management LP purchased a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 224,437 shares of the company's stock, valued at approximately $8,181,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings 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 valued at $1,548,186,000 after purchasing an additional 4,147,430 shares in the last quarter. Capital International Investors increased its stake in shares of Toast by 1.9% in the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company's stock valued at $1,529,657,000 after buying an additional 785,641 shares during the period. FMR LLC increased 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 buying an additional 5,403,896 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Toast during the fourth quarter worth $282,010,000. Finally, Geode Capital Management LLC lifted its stake in shares of Toast by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company's stock valued at $256,970,000 after acquiring an additional 195,805 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Trading Up 2.2 %

Shares of NYSE TOST traded up $0.78 during midday trading on Friday, reaching $36.08. The company's stock had a trading volume of 6,503,078 shares, compared to its average volume of 6,848,739. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12. The stock has a 50 day simple moving average of $34.60 and a 200-day simple moving average of $36.56. The stock has a market capitalization of $17.95 billion, a price-to-earnings ratio of -3,604.40, a PEG ratio of 2.16 and a beta of 2.00.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates 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 anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Analysts Set New Price Targets

TOST has been the subject of several recent research reports. BNP Paribas set a $37.00 price objective on Toast and gave the stock a "neutral" rating in a report on Wednesday, February 19th. BMO Capital Markets increased their price objective on shares of Toast from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Morgan Stanley lowered their target price on shares of Toast from $50.00 to $46.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Evercore ISI initiated coverage on Toast in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 price target on the stock. Finally, The Goldman Sachs Group decreased their price objective on Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $40.35.

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 653 shares of Toast stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the transaction, the general counsel now owns 209,206 shares in the company, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Stephen Fredette sold 70,340 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $33.87, for a total value of $2,382,415.80. Following the transaction, the president now directly owns 1,574,316 shares in the company, valued at approximately $53,322,082.92. This trade represents a 4.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 340,770 shares of company stock valued at $11,803,911. 13.32% of the stock is owned by insiders.

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.