Two Sigma Investments LP Has $103.74 Million Stock Holdings in Toast, Inc. (NYSE:TOST)

Two Sigma Investments LP raised its holdings in Toast, Inc. (NYSE:TOST) by 914.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,846,200 shares of the company’s stock after acquiring an additional 2,565,634 shares during the quarter. Two Sigma Investments LP’s holdings in Toast were worth $103,744,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Toast by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock valued at $107,108,000 after acquiring an additional 155,446 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in Toast by 134.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company’s stock valued at $14,319,000 after acquiring an additional 225,215 shares during the last quarter. New York Life Investment Management LLC acquired a new stake in Toast in the fourth quarter valued at approximately $1,572,000. Forsta AP Fonden lifted its stake in Toast by 191.4% in the fourth quarter. Forsta AP Fonden now owns 234,300 shares of the company’s stock valued at $8,540,000 after acquiring an additional 153,900 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Toast in the fourth quarter valued at approximately $83,684,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TOST has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of Toast from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler lifted their price target on shares of Toast from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. UBS Group lifted their price target on shares of Toast from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Wolfe Research raised shares of Toast from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Wednesday, April 23rd. Finally, Morgan Stanley lifted their price target on shares of Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Toast presently has a consensus rating of “Hold” and an average target price of $40.91.

Toast Stock Down 1.2%

NYSE TOST opened at $44.69 on Monday. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $45.56. The stock has a market cap of $22.25 billion, a P/E ratio of -4,464.04, a PEG ratio of 2.16 and a beta of 1.98. The company’s 50-day simple moving average is $35.55 and its 200 day simple moving average is $37.41.

Toast (NYSE:TOST) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share 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 earnings per share for the current year.

Insider Activity

In other news, President Stephen Fredette sold 70,340 shares of the company’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 value of $2,382,415.80. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Paul D. Bell sold 11,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 229,680 shares in the company, valued at approximately $10,365,458.40. This represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 416,991 shares of company stock worth $15,242,750. Company insiders own 13.32% of the company’s stock.

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.