Xponance Inc. Has $848,000 Position in Toast, Inc. (NYSE:TOST)

Xponance Inc. reduced its stake in Toast, Inc. (NYSE:TOST) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,436 shares of the company’s stock after selling 4,084 shares during the period. Xponance Inc.’s holdings in Toast were worth $848,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TOST. Morgan Stanley boosted its stake in shares of Toast by 149.3% in the 3rd quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock valued at $224,896,000 after purchasing an additional 7,191,595 shares in the last quarter. Vanguard Group Inc. boosted its position in Toast by 11.1% during the 3rd quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock worth $657,032,000 after buying an additional 3,494,579 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Toast by 69.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,600,377 shares of the company’s stock worth $120,523,000 after buying an additional 2,708,597 shares during the period. Eventide Asset Management LLC boosted its position in Toast by 82.4% during the 3rd quarter. Eventide Asset Management LLC now owns 2,926,074 shares of the company’s stock worth $54,805,000 after buying an additional 1,322,208 shares during the period. Finally, ARK Investment Management LLC boosted its position in Toast by 101.5% during the 4th quarter. ARK Investment Management LLC now owns 2,345,520 shares of the company’s stock worth $42,829,000 after buying an additional 1,181,409 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Stock Up 0.2 %

NYSE:TOST opened at $23.12 on Friday. The company has a fifty day moving average of $23.25 and a 200-day moving average of $19.16. The firm has a market capitalization of $10.43 billion, a P/E ratio of -45.32 and a beta of 1.79. Toast, Inc. has a twelve month low of $13.77 and a twelve month high of $27.00.

Toast (NYSE:TOST) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. Toast’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.19) EPS. On average, analysts anticipate that Toast, Inc. will post -0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. UBS Group lifted their target price on shares of Toast from $22.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Royal Bank of Canada reiterated a “sector perform” rating and set a $23.00 target price on shares of Toast in a research report on Thursday, April 11th. Piper Sandler lifted their target price on shares of Toast from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Mizuho reiterated a “neutral” rating and set a $17.00 target price on shares of Toast in a research report on Wednesday, March 27th. Finally, Evercore ISI began coverage on shares of Toast in a research report on Monday, March 4th. They set an “outperform” rating and a $32.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.32.

Insider Buying and Selling at Toast

In other Toast news, CEO Aman Narang sold 2,471 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $57,821.40. Following the completion of the sale, the chief executive officer now owns 1,114,454 shares in the company, valued at approximately $26,078,223.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Toast news, CEO Aman Narang sold 2,471 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $57,821.40. Following the completion of the sale, the chief executive officer now owns 1,114,454 shares in the company, valued at approximately $26,078,223.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the sale, the executive now owns 22,956 shares of the company’s stock, valued at approximately $579,409.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 414,486 shares of company stock worth $8,662,487. 13.70% of the stock is owned by corporate insiders.

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.