Xponance Inc. Raises Holdings in Toast, Inc. (NYSE:TOST)

Xponance Inc. grew its position in shares of Toast, Inc. (NYSE:TOST) by 15.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,667 shares of the company’s stock after buying an additional 11,463 shares during the period. Xponance Inc.’s holdings in Toast were worth $3,086,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its holdings in Toast by 50.5% during the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after purchasing an additional 8,205,053 shares in the last quarter. ValueAct Holdings L.P. purchased a new stake in Toast during the 3rd quarter worth about $438,301,000. State Street Corp lifted its holdings in Toast by 2.5% during the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after purchasing an additional 206,789 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Toast by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after purchasing an additional 155,212 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Toast by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock worth $107,108,000 after purchasing an additional 155,446 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. UBS Group raised their price target on Toast from $41.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, February 20th. BMO Capital Markets raised their price target on Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. The Goldman Sachs Group set a $40.00 price target on Toast and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, BNP Paribas set a $37.00 price target on Toast and gave the company a “neutral” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Toast has a consensus rating of “Hold” and a consensus target price of $40.48.

Toast Price Performance

TOST opened at $35.90 on Friday. The stock’s 50 day simple moving average is $37.83 and its 200 day simple moving average is $34.92. Toast, Inc. has a 1 year low of $21.32 and a 1 year high of $44.12. The firm has a market cap of $17.73 billion, a price-to-earnings ratio of -3,586.01, a PEG ratio of 2.16 and a beta of 1.99.

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

Insider Buying and Selling

In other Toast news, President Stephen Fredette sold 47,073 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $35.03, for a total value of $1,648,967.19. Following the completion of the sale, the president now owns 1,491,773 shares in the company, valued at approximately $52,256,808.19. This trade represents a 3.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 2,052 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $81,320.76. Following the completion of the sale, the chief financial officer now owns 160,498 shares of the company’s stock, valued at approximately $6,360,535.74. This trade represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,714 shares of company stock worth $5,360,943 in the last ninety days. 13.32% of the stock is owned by 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.