Prudential PLC Takes $262,000 Position in Toast, Inc. (NYSE:TOST)

Prudential PLC bought a new stake in Toast, Inc. (NYSE:TOST – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,532 shares of the company’s stock, valued at approximately $262,000.

Other institutional investors also recently modified their holdings of the company. Altimeter Capital Management LP increased its holdings in shares of Toast by 3,508.4% in the first quarter. Altimeter Capital Management LP now owns 18,041,796 shares of the company’s stock valued at $3,933,007,000 after purchasing an additional 17,541,796 shares in the last quarter. Durable Capital Partners LP increased its holdings in shares of Toast by 85.1% in the third quarter. Durable Capital Partners LP now owns 14,705,314 shares of the company’s stock valued at $245,873,000 after purchasing an additional 6,762,023 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Toast by 23.6% in the third quarter. Vanguard Group Inc. now owns 27,413,189 shares of the company’s stock valued at $458,348,000 after purchasing an additional 5,232,858 shares in the last quarter. State Street Corp increased its holdings in shares of Toast by 842.9% in the second quarter. State Street Corp now owns 3,070,960 shares of the company’s stock valued at $39,738,000 after purchasing an additional 2,745,261 shares in the last quarter. Finally, First Trust Advisors LP acquired a new stake in shares of Toast in the first quarter valued at approximately $33,356,000. Institutional investors own 50.82% of the company’s stock.

Toast Stock Down 1.1 %

TOST opened at $20.81 on Friday. Toast, Inc. has a 12 month low of $12.15 and a 12 month high of $26.03. The firm’s fifty day simple moving average is $17.89 and its 200 day simple moving average is $19.02.

Toast (NYSE:TOST – Get Rating) last posted its quarterly earnings results on Tuesday, May 9th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The firm had revenue of $819.00 million during the quarter, compared to the consensus estimate of $763.11 million. Toast had a negative return on equity of 29.74% and a negative net margin of 11.01%. The business’s revenue was up 53.1% compared to the same quarter last year. During the same period last year, the company earned ($0.20) earnings per share. On average, research analysts predict that Toast, Inc. will post -0.57 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. DA Davidson reaffirmed a “buy” rating on shares of Toast in a report on Monday, April 3rd. Robert W. Baird lowered their target price on shares of Toast from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, April 19th. Credit Suisse Group lifted their target price on shares of Toast from $21.50 to $23.00 and gave the stock a “neutral” rating in a report on Friday, February 17th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Toast in a report on Thursday, April 6th. They set a “hold” rating and a $20.00 target price for the company. Finally, Stephens assumed coverage on shares of Toast in a report on Thursday, April 13th. They set an “equal weight” rating and a $18.00 target price for the company. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.75.

Insider Activity

In related news, Director David Yuan acquired 135,000 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was bought at an average price of $19.44 per share, with a total value of $2,624,400.00. Following the acquisition, the director now owns 388,614 shares in the company, valued at approximately $7,554,656.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Toast news, CEO Christopher P. Comparato sold 33,333 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $19.09, for a total transaction of $636,326.97. Following the transaction, the chief executive officer now owns 143,228 shares in the company, valued at approximately $2,734,222.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Yuan acquired 135,000 shares of the stock in a transaction on Monday, May 15th. The shares were purchased at an average price of $19.44 per share, for a total transaction of $2,624,400.00. Following the transaction, the director now directly owns 388,614 shares in the company, valued at $7,554,656.16. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 391,727 shares of company stock valued at $7,509,345. 20.16% of the stock is owned by insiders.

Toast Company Profile

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Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.