Dynamic Technology Lab Private Ltd Increases Position in Toast, Inc. (NYSE:TOST)

Dynamic Technology Lab Private Ltd raised its position in shares of Toast, Inc. (NYSE:TOST) by 195.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 42,708 shares of the company’s stock after buying an additional 28,240 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Toast were worth $1,557,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TOST. ValueAct Holdings L.P. purchased a new position in Toast during the 3rd quarter valued at about $438,301,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Toast during the fourth quarter worth about $282,010,000. Norges Bank purchased a new position in shares of Toast in the fourth quarter valued at approximately $205,888,000. Vanguard Group Inc. grew its holdings in shares of Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock valued at $1,548,186,000 after purchasing an additional 4,147,430 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Toast by 129,058.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company’s stock worth $75,466,000 after buying an additional 2,072,680 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Toast

In related news, Director Deval L. Patrick sold 34,222 shares of Toast stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $33.01, for a total value of $1,129,668.22. Following the transaction, the director now directly owns 13,260 shares in the company, valued at $437,712.60. This trade represents a 72.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Stephen Fredette sold 70,340 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the transaction, the president now owns 1,574,316 shares of the company’s stock, valued at approximately $53,322,082.92. The trade was a 4.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 270,770 shares of company stock valued at $9,409,211 in the last ninety days. Insiders own 13.32% of the company’s stock.

Toast Trading Down 6.4 %

Shares of TOST opened at $30.58 on Friday. The company’s 50 day simple moving average is $37.16 and its 200-day simple moving average is $35.67. The firm has a market cap of $15.10 billion, a PE ratio of -3,054.55, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. Toast, Inc. has a 12-month low of $21.32 and a 12-month high of $44.12.

Toast (NYSE:TOST) last issued its quarterly earnings data 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). Toast had a return on equity of 1.54% and a net margin of 0.40%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. As a group, equities research analysts forecast that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

TOST has been the subject of several recent research reports. BNP Paribas set a $37.00 price target on shares of Toast and gave the company a “neutral” rating in a research report on Wednesday, February 19th. UBS Group boosted their target price on Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. The Goldman Sachs Group cut their price target on Toast from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday. Oppenheimer started coverage on Toast in a research note on Friday, January 24th. They issued an “outperform” rating and a $46.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Toast in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Toast currently has a consensus rating of “Hold” and an average price target of $40.38.

About Toast

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.