Tidal Investments LLC Increases Stock Holdings in Toast, Inc. (NYSE:TOST)

Tidal Investments LLC lifted its stake in shares of Toast, Inc. (NYSE:TOST) by 423.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,963 shares of the company’s stock after buying an additional 60,653 shares during the quarter. Tidal Investments LLC’s holdings in Toast were worth $2,732,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Toast by 0.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company’s stock valued at $1,408,000 after buying an additional 301 shares during the period. Keel Point LLC raised its holdings in shares of Toast by 2.7% during the 4th quarter. Keel Point LLC now owns 12,269 shares of the company’s stock valued at $447,000 after buying an additional 326 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Toast by 11.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company’s stock valued at $125,000 after buying an additional 358 shares during the period. Blue Trust Inc. raised its holdings in shares of Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after buying an additional 378 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of Toast by 19.8% during the 4th quarter. Farther Finance Advisors LLC now owns 2,435 shares of the company’s stock valued at $89,000 after buying an additional 402 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Price Performance

NYSE:TOST opened at $42.80 on Thursday. Toast, Inc. has a 12-month low of $21.32 and a 12-month high of $45.56. The firm has a market capitalization of $21.32 billion, a P/E ratio of -4,276.12, a P/E/G ratio of 2.16 and a beta of 1.98. The business has a 50 day simple moving average of $36.15 and a 200 day simple moving average of $37.59.

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

Analyst Ratings Changes

TOST has been the subject of a number of recent analyst reports. UBS Group raised their price objective on Toast from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Toast in a research note on Thursday, February 20th. BNP Paribas set a $37.00 price objective on Toast and gave the company a “neutral” rating in a research note on Wednesday, February 19th. BMO Capital Markets raised their price objective on Toast from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, May 12th. Finally, Robert W. Baird lifted their target price on Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.91.

Insider Activity at Toast

In related news, President Stephen Fredette sold 70,340 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the completion of the transaction, the president now owns 1,574,316 shares in the company, valued at $53,322,082.92. The trade was a 4.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul D. Bell sold 11,000 shares of Toast stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $45.13, for a total value of $496,430.00. Following the sale, the director now directly owns 229,680 shares in the company, valued at $10,365,458.40. The trade was a 4.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 416,991 shares of company stock worth $15,242,750 in the last 90 days. 13.32% of the stock is currently owned by company 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.