Trexquant Investment LP Reduces Stock Position in Toast, Inc. (NYSE:TOST)

Trexquant Investment LP trimmed its stake in shares of Toast, Inc. (NYSE:TOST) by 14.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 535,809 shares of the company’s stock after selling 86,871 shares during the period. Trexquant Investment LP owned approximately 0.11% of Toast worth $19,530,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake 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 purchasing an additional 378 shares during the period. Piscataqua Savings Bank bought a new stake in Toast during the fourth quarter valued at approximately $26,000. Stonebridge Financial Group LLC purchased a new stake in Toast during the fourth quarter valued at approximately $34,000. SBI Securities Co. Ltd. bought a new position in Toast in the fourth quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of Toast during the 4th quarter worth $40,000. Institutional investors own 82.91% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on TOST. BNP Paribas set a $37.00 target price on Toast and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Robert W. Baird boosted their price objective on Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. The Goldman Sachs Group set a $40.00 target price on shares of Toast and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods upped their price target on shares of Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a research report on Thursday, February 20th. Finally, Royal Bank of Canada raised their price objective on shares of Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Toast currently has an average rating of “Hold” and a consensus price target of $40.48.

Toast Trading Down 1.2 %

Shares of TOST stock opened at $33.18 on Tuesday. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12. The stock has a 50 day moving average of $37.63 and a 200 day moving average of $35.60. The stock has a market cap of $16.39 billion, a P/E ratio of -3,314.49, a P/E/G ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST) last posted 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 net margin of 0.40% and a return on equity of 1.54%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. On average, research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the sale, the president now owns 1,644,656 shares in the company, valued at $65,177,717.28. This trade represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher P. Comparato sold 70,000 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the transaction, the director now owns 164,796 shares of the company’s stock, valued at approximately $5,884,865.16. This trade represents a 29.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 270,770 shares of company stock valued at $9,409,211. 13.32% of the stock is 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.