Los Angeles Capital Management LLC Makes New $16.52 Million Investment in Toast, Inc. (NYSE:TOST)

Los Angeles Capital Management LLC bought a new position in shares of Toast, Inc. (NYSE:TOST) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 453,263 shares of the company’s stock, valued at approximately $16,521,000.

A number of other institutional investors also recently bought and sold shares of the company. FMR LLC raised its stake in Toast by 50.5% during the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after purchasing an additional 8,205,053 shares during the period. ValueAct Holdings L.P. purchased a new stake in shares of Toast in the 3rd quarter valued at approximately $438,301,000. State Street Corp raised its stake in shares of Toast by 2.5% in the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company’s stock valued at $235,689,000 after acquiring an additional 206,789 shares during the period. Geode Capital Management LLC raised its stake in shares of Toast by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after acquiring an additional 155,212 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Toast by 4.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,783,041 shares of the company’s stock valued at $78,788,000 after acquiring an additional 113,995 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Christopher P. Comparato sold 145,000 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $36.04, for a total value of $5,225,800.00. Following the completion of the transaction, the director now owns 182,451 shares in the company, valued at approximately $6,575,534.04. This represents a 44.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the transaction, the general counsel now owns 209,206 shares of the company’s stock, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 149,779 shares of company stock worth $5,415,192. Corporate insiders own 13.32% of the company’s stock.

Analyst Ratings Changes

TOST has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. DA Davidson reissued a “neutral” rating and issued a $38.00 price target (down from $44.00) on shares of Toast in a research note on Thursday, December 5th. JPMorgan Chase & Co. boosted their price target on shares of Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. UBS Group boosted their price target on shares of Toast from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Canaccord Genuity Group boosted their price target on shares of Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.09.

Toast Stock Down 2.8 %

NYSE TOST opened at $36.13 on Wednesday. Toast, Inc. has a 52 week low of $21.02 and a 52 week high of $44.12. The stock has a market capitalization of $17.02 billion, a PE ratio of -3,609.79, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. The firm has a 50 day moving average of $38.53 and a two-hundred day moving average of $33.77.

Toast (NYSE:TOST) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 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 firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. On average, equities research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal 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.