Vinva Investment Management Ltd Takes Position in Toast, Inc. (NYSE:TOST)

Vinva Investment Management Ltd bought a new stake in shares of Toast, Inc. (NYSE:TOST) during the 4th quarter, HoldingsChannel.com reports. The firm bought 56,060 shares of the company’s stock, valued at approximately $2,067,000.

Other institutional investors have also made changes to their positions in the company. Xponance Inc. boosted its position in Toast by 15.7% in the fourth quarter. Xponance Inc. now owns 84,667 shares of the company’s stock valued at $3,086,000 after buying an additional 11,463 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in Toast in the fourth quarter valued at about $661,000. Envestnet Portfolio Solutions Inc. boosted its position in Toast by 6.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 19,967 shares of the company’s stock valued at $728,000 after buying an additional 1,236 shares in the last quarter. Globeflex Capital L P boosted its position in Toast by 11.6% in the fourth quarter. Globeflex Capital L P now owns 129,970 shares of the company’s stock valued at $4,737,000 after buying an additional 13,500 shares in the last quarter. Finally, Natixis Advisors LLC boosted its position in Toast by 10.2% in the fourth quarter. Natixis Advisors LLC now owns 90,614 shares of the company’s stock valued at $3,303,000 after buying an additional 8,355 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, President Stephen Fredette sold 70,340 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the completion of the transaction, the president now owns 1,574,316 shares in the company, valued at approximately $53,322,082.92. This represents a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Deval L. Patrick sold 34,222 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the transaction, the director now owns 13,260 shares of the company’s stock, valued at $437,712.60. The trade was a 72.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 156,714 shares of company stock worth $5,360,943. 13.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. BNP Paribas set a $37.00 target price on shares of Toast and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Wells Fargo & Company boosted their target price on shares of Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Toast in a research note on Thursday, February 20th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a research note on Thursday, February 20th. One equities research 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $40.48.

Toast Stock Up 2.3 %

Toast stock opened at $35.90 on Friday. The stock has a market capitalization of $17.73 billion, a PE ratio of -3,586.01, a price-to-earnings-growth 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. The company has a 50 day moving average of $37.83 and a 200-day moving average of $34.92.

Toast (NYSE:TOST) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. Equities analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

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.