ARK Investment Management LLC Sells 28,066 Shares of Toast, Inc. (NYSE:TOST)

ARK Investment Management LLC trimmed its position in Toast, Inc. (NYSE:TOST) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,931,812 shares of the company’s stock after selling 28,066 shares during the quarter. ARK Investment Management LLC owned approximately 0.41% of Toast worth $70,415,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TOST. ValueAct Holdings L.P. bought a new position in Toast in the 3rd quarter valued at about $438,301,000. FMR LLC raised its holdings in Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after acquiring an additional 8,205,053 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Toast by 129,058.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company’s stock valued at $75,466,000 after acquiring an additional 2,072,680 shares during the period. Perpetual Ltd bought a new position in Toast in the 4th quarter valued at about $60,878,000. Finally, Worldquant Millennium Advisors LLC raised its holdings in Toast by 1,475.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company’s stock valued at $24,091,000 after acquiring an additional 796,936 shares during the period. 82.91% of the stock is owned by institutional investors.

Insider Transactions at Toast

In other news, CRO Jonathan Vassil sold 1,006 shares of Toast stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $39,867.78. Following the transaction, the executive now owns 48,488 shares in the company, valued at approximately $1,921,579.44. The trade was a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher P. Comparato sold 145,000 shares of Toast stock in a transaction 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 149,779 shares of company stock worth $5,415,192. Company insiders own 13.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on TOST. Royal Bank of Canada raised their target price on shares of Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Wedbush raised their target price on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Robert W. Baird raised their target price on shares of Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Compass Point began coverage on shares of Toast in a report on Wednesday, November 20th. They set a “buy” rating and a $49.00 target price on the stock. Finally, UBS Group raised their target price on shares of Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.09.

Toast Price Performance

Shares of Toast stock opened at $36.13 on Wednesday. Toast, Inc. has a fifty-two week low of $21.02 and a fifty-two week high of $44.12. The firm has a market capitalization of $17.02 billion, a P/E ratio of -3,609.79, a P/E/G ratio of 2.16 and a beta of 1.98. The company’s 50 day moving average price is $38.53 and its two-hundred day moving average price is $33.77.

Toast (NYSE:TOST) last issued its earnings results 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 during the quarter, compared to analyst estimates of $1.32 billion. On average, analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

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.