Toast, Inc. (NYSE:TOST) Position Reduced by Wellington Management Group LLP

Wellington Management Group LLP cut its position in shares of Toast, Inc. (NYSE:TOST) by 42.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,498 shares of the company’s stock after selling 13,822 shares during the quarter. Wellington Management Group LLP’s holdings in Toast were worth $674,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in 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 buying an additional 4,147,430 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Toast during the fourth quarter valued at $282,010,000. Geode Capital Management LLC raised its stake in shares of Toast by 2.3% during the third quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after purchasing an additional 155,212 shares in the last quarter. Norges Bank acquired a new stake in Toast in the fourth quarter worth about $205,888,000. Finally, Charles Schwab Investment Management Inc. grew its position in Toast by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock valued at $107,108,000 after buying an additional 155,446 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Transactions at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of Toast stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $25,878.39. Following the sale, the general counsel now owns 209,206 shares in the company, valued at $8,290,833.78. The trade was a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher P. Comparato sold 70,000 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the completion of the transaction, the director now owns 164,796 shares of the company’s stock, valued at approximately $5,884,865.16. This represents a 29.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 270,770 shares of company stock worth $9,409,211. Insiders own 13.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TOST. JPMorgan Chase & Co. upped their target price on Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods raised their price objective on shares of Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Thursday, February 20th. The Goldman Sachs Group decreased their price target on Toast from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Robert W. Baird upped their price target on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Finally, Oppenheimer started coverage on Toast in a research note on Friday, January 24th. They issued an “outperform” rating and a $46.00 price objective for the company. Thirteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Toast has a consensus rating of “Hold” and a consensus target price of $40.27.

Toast Stock Performance

TOST opened at $34.59 on Tuesday. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12. The business has a 50 day moving average price of $35.97 and a 200 day moving average price of $36.02. The firm has a market cap of $17.09 billion, a P/E ratio of -3,455.54, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00.

Toast (NYSE:TOST) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. As a group, analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

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.