Polar Capital Holdings Plc Makes New $31.16 Million Investment in Toast, Inc. (NYSE:TOST)

Polar Capital Holdings Plc purchased a new position in Toast, Inc. (NYSE:TOST) in the 4th quarter, HoldingsChannel reports. The fund purchased 854,726 shares of the company’s stock, valued at approximately $31,155,000.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares in the last quarter. Capital International Investors grew its stake in shares of Toast by 1.9% during the fourth quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock worth $1,529,657,000 after purchasing an additional 785,641 shares in the last quarter. FMR LLC grew its stake in shares of Toast by 22.1% during the fourth quarter. FMR LLC now owns 29,853,639 shares of the company’s stock worth $1,088,165,000 after purchasing an additional 5,403,896 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Toast during the fourth quarter worth $282,010,000. Finally, Geode Capital Management LLC grew its stake in shares of Toast by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company’s stock worth $256,970,000 after purchasing an additional 195,805 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Up 0.2%

NYSE TOST opened at $45.16 on Friday. The stock has a market capitalization of $22.49 billion, a P/E ratio of -4,511.49, a P/E/G ratio of 2.16 and a beta of 1.98. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $45.56. The firm has a 50-day moving average price of $35.33 and a 200 day moving average price of $37.21.

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

Insider Buying and Selling

In other Toast news, President Stephen Fredette sold 70,340 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the transaction, the president now directly owns 1,574,316 shares in the company, valued at approximately $53,322,082.92. This represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christopher P. Comparato sold 70,000 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $44.74, for a total transaction of $3,131,800.00. Following the transaction, the director now owns 187,140 shares in the company, valued at $8,372,643.60. The trade was a 27.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 405,991 shares of company stock valued at $14,746,320 over the last ninety days. Corporate insiders own 13.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TOST. Wolfe Research upgraded shares of Toast from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Wednesday, April 23rd. Oppenheimer started coverage on shares of Toast in a research report on Friday, January 24th. They issued an “outperform” rating and a $46.00 price target for the company. Canaccord Genuity Group boosted their price target on shares of Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets boosted their price target on shares of Toast from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Robert W. Baird boosted their price target on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Thirteen investment 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 has a consensus rating of “Hold” and a consensus target price of $40.91.

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.