Zevenbergen Capital Investments LLC Increases Stake in Toast, Inc. (NYSE:TOST)

Zevenbergen Capital Investments LLC lifted its stake in Toast, Inc. (NYSE:TOST) by 4.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,202,735 shares of the company’s stock after purchasing an additional 96,821 shares during the quarter. Toast comprises about 1.6% of Zevenbergen Capital Investments LLC’s portfolio, making the stock its 19th largest holding. Zevenbergen Capital Investments LLC’s holdings in Toast were worth $80,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TOST. Geode Capital Management LLC increased its holdings in Toast by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after buying an additional 155,212 shares during the period. MML Investors Services LLC increased its holdings in Toast by 40.6% in the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock worth $6,464,000 after buying an additional 65,957 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Toast by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock worth $107,108,000 after buying an additional 155,446 shares during the period. Qsemble Capital Management LP increased its holdings in Toast by 52.1% in the 3rd quarter. Qsemble Capital Management LP now owns 67,796 shares of the company’s stock worth $1,919,000 after buying an additional 23,231 shares during the period. Finally, FMR LLC increased its holdings in Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after buying an additional 8,205,053 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Trading Down 1.9 %

Shares of TOST stock opened at $35.20 on Monday. The company’s 50-day moving average price is $37.82 and its 200-day moving average price is $35.15. The stock has a market cap of $17.39 billion, a price-to-earnings ratio of -3,516.78, a PEG ratio of 2.16 and a beta of 1.99. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12.

Toast (NYSE:TOST) last posted its earnings results on Wednesday, February 19th. The company reported $0.05 EPS 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. As a group, equities research analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Toast in a report on Thursday, February 20th. BMO Capital Markets lifted their target price on shares of Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Morgan Stanley lifted their target price on shares of Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. DA Davidson reaffirmed a “neutral” rating and set a $38.00 target price (down from $44.00) on shares of Toast in a report on Thursday, December 5th. Finally, Wells Fargo & Company lifted their target price on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $40.48.

Insider Buying and Selling at Toast

In other Toast 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 value of $42,324.84. Following the transaction, the president now owns 1,644,656 shares of the company’s stock, valued at $65,177,717.28. This represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Elena Gomez sold 2,052 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $81,320.76. Following the sale, the chief financial officer now owns 160,498 shares in the company, valued at $6,360,535.74. This trade represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 270,770 shares of company stock valued at $9,409,211 over the last 90 days. 13.32% of the stock is owned by insiders.

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.