Geode Capital Management LLC Increases Holdings in Toast, Inc. (NYSE:TOST)

Geode Capital Management LLC increased its stake in Toast, Inc. (NYSE:TOST) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,061,739 shares of the company’s stock after acquiring an additional 195,805 shares during the period. Geode Capital Management LLC owned approximately 1.50% of Toast worth $256,970,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Toast by 120.4% in the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after purchasing an additional 378 shares during the period. Piscataqua Savings Bank bought a new stake in Toast in the fourth quarter worth $26,000. Stonebridge Financial Group LLC purchased a new position in Toast during the fourth quarter worth $34,000. SBI Securities Co. Ltd. bought a new position in Toast during the fourth quarter valued at $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Toast in the fourth quarter valued at $40,000. 82.91% of the stock is owned by institutional investors.

Toast Stock Performance

Shares of Toast stock opened at $30.58 on Friday. The company has a market capitalization of $15.10 billion, a PE ratio of -3,054.55, a P/E/G ratio of 2.16 and a beta of 2.00. The company has a 50-day simple moving average of $37.16 and a two-hundred day simple moving average of $35.67. Toast, Inc. has a one year low of $21.32 and a one year high of $44.12.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TOST shares. 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. Keefe, Bruyette & Woods upped their target price on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Thursday, February 20th. The Goldman Sachs Group decreased their price target on Toast from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday. UBS Group upped their price objective on Toast from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group boosted their target price on shares of Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Toast currently has an average rating of “Hold” and a consensus target price of $40.38.

Insider Transactions at Toast

In other news, President Stephen Fredette sold 1,068 shares of the company’s 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 transaction, the president now owns 1,644,656 shares in the company, valued at $65,177,717.28. This represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Jonathan Vassil sold 1,006 shares of Toast stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $39,867.78. Following the completion of the sale, the executive now owns 48,488 shares of the company’s stock, valued at $1,921,579.44. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 270,770 shares of company stock valued at $9,409,211. Corporate insiders own 13.32% of the company’s stock.

Toast 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.