New York Life Investment Management LLC Acquires New Position in Toast, Inc. (NYSE:TOST)

New York Life Investment Management LLC acquired a new stake in Toast, Inc. (NYSE:TOST) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,136 shares of the company’s stock, valued at approximately $1,572,000.

A number of other hedge funds have also recently modified their holdings of the company. FMR LLC grew its holdings in shares of Toast by 50.5% in the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after purchasing an additional 8,205,053 shares during the period. ValueAct Holdings L.P. purchased a new position in Toast during the third quarter worth about $438,301,000. State Street Corp boosted its stake in Toast by 2.5% during the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after buying an additional 206,789 shares during the period. Geode Capital Management LLC boosted its stake in Toast by 2.3% during the third quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after buying an additional 155,212 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Toast by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,783,041 shares of the company’s stock worth $78,788,000 after buying an additional 113,995 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Down 4.5 %

Shares of NYSE:TOST opened at $36.86 on Tuesday. The firm’s 50 day moving average price is $38.61 and its 200 day moving average price is $34.05. The stock has a market cap of $18.21 billion, a price-to-earnings ratio of -3,682.32, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12.

Toast (NYSE:TOST) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. On average, equities analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. BMO Capital Markets increased their target price on shares of Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Piper Sandler increased their target price on shares of Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. BNP Paribas set a $37.00 target price on shares of Toast and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Wedbush increased their target price on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $40.09.

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 1,068 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the transaction, the president now directly owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. This trade represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher P. Comparato sold 145,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the transaction, the director now owns 182,451 shares in the company, valued at approximately $6,575,534.04. This trade represents a 44.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 149,779 shares of company stock worth $5,415,192 over the last three months. Insiders own 13.32% of the company’s stock.

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.