Toast, Inc. (NYSE:TOST) is Granahan Investment Management LLC’s 8th Largest Position

Granahan Investment Management LLC decreased its position in Toast, Inc. (NYSE:TOST) by 30.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,578,370 shares of the company’s stock after selling 702,557 shares during the quarter. Toast accounts for 2.4% of Granahan Investment Management LLC’s portfolio, making the stock its 8th largest position. Granahan Investment Management LLC owned about 0.34% of Toast worth $57,532,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TOST. Barclays PLC boosted its stake in shares of Toast by 38.0% in the 3rd quarter. Barclays PLC now owns 309,426 shares of the company’s stock valued at $8,758,000 after purchasing an additional 85,171 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Toast during the third quarter valued at about $59,000. Tidal Investments LLC grew its stake in shares of Toast by 5.4% during the third quarter. Tidal Investments LLC now owns 14,310 shares of the company’s stock valued at $405,000 after buying an additional 734 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Toast by 106.8% in the fourth quarter. GAMMA Investing LLC now owns 2,784 shares of the company’s stock worth $101,000 after buying an additional 1,438 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of Toast by 9.6% in the 4th quarter. Nordea Investment Management AB now owns 33,882 shares of the company’s stock valued at $1,238,000 after acquiring an additional 2,975 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Toast from $39.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday. The Goldman Sachs Group cut their price target on shares of Toast from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. BMO Capital Markets increased their target price on shares of Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Robert W. Baird boosted their price target on Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. increased their price objective on Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a 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 company. According to MarketBeat, Toast presently has an average rating of “Hold” and a consensus target price of $40.91.

Toast Price Performance

TOST opened at $40.85 on Friday. The firm has a market cap of $20.32 billion, a PE ratio of -4,080.92, a P/E/G ratio of 2.16 and a beta of 1.98. The stock has a 50-day moving average price of $34.56 and a 200-day moving average price of $36.81. Toast, Inc. has a 1 year low of $21.32 and a 1 year high of $44.12.

Toast (NYSE:TOST) last issued 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). The firm had revenue of $1.34 billion during 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%. As a group, sell-side analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Insiders Place Their Bets

In other news, Director Christopher P. Comparato sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $34.21, for a total transaction of $2,394,700.00. Following the completion of the transaction, the director now directly owns 179,316 shares of the company’s stock, valued at $6,134,400.36. The trade was a 28.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Stephen Fredette sold 44,056 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $35.15, for a total transaction of $1,548,568.40. Following the transaction, the president now owns 1,447,717 shares in the company, valued at approximately $50,887,252.55. This trade represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 335,991 shares of company stock valued at $11,614,520. Corporate 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.