Zevenbergen Capital Investments LLC Raises Stake in Toast, Inc. (NYSE:TOST)

Zevenbergen Capital Investments LLC raised its position in shares of Toast, Inc. (NYSE:TOST) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,202,735 shares of the company’s stock after purchasing an additional 96,821 shares during the quarter. Toast accounts for about 1.6% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 19th largest position. Zevenbergen Capital Investments LLC owned approximately 0.47% of Toast worth $80,290,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after buying an additional 378 shares in the last quarter. Piscataqua Savings Bank purchased a new position in shares of Toast in the fourth quarter worth $26,000. Stonebridge Financial Group LLC purchased a new position in shares of Toast in the fourth quarter worth $34,000. SBI Securities Co. Ltd. purchased a new position in shares of Toast in the fourth quarter worth $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of Toast in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

TOST has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on shares of Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Toast in a research note on Thursday, February 20th. Morgan Stanley upped their price target on shares of Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Oppenheimer started coverage on shares of Toast in a research note on Friday, January 24th. They set an “outperform” rating and a $46.00 price target on the stock. Finally, BNP Paribas set a $37.00 price target on shares of Toast and gave the company a “neutral” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $40.48.

Insiders Place Their Bets

In other Toast news, Director Deval L. Patrick sold 34,222 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the completion of the sale, the director now directly owns 13,260 shares of the company’s stock, valued at approximately $437,712.60. This represents a 72.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 1,068 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the sale, the president now directly owns 1,644,656 shares of the company’s stock, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 270,770 shares of company stock worth $9,409,211 in the last three months. Corporate insiders own 13.32% of the company’s stock.

Toast Trading Down 1.9 %

NYSE TOST opened at $35.20 on Monday. The company’s 50-day moving average price is $37.82 and its 200-day moving average price is $35.15. The stock has a market cap of $17.39 billion, a PE ratio of -3,516.78, a PEG ratio of 2.16 and a beta of 1.99. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $44.12.

Toast (NYSE:TOST) last issued its 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 business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. As a group, sell-side analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Toast Company 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.