Korea Investment CORP Has $8.63 Million Position in Toast, Inc. (NYSE:TOST)

Korea Investment CORP grew its stake in Toast, Inc. (NYSE:TOST) by 2,350.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 236,868 shares of the company’s stock after buying an additional 227,200 shares during the period. Korea Investment CORP’s holdings in Toast were worth $8,634,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in Toast by 2.3% during the third 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 last quarter. MML Investors Services LLC lifted its stake in shares of Toast by 40.6% in the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock valued at $6,464,000 after purchasing an additional 65,957 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Toast by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock valued at $107,108,000 after purchasing an additional 155,446 shares in the last quarter. Zacks Investment Management grew its stake in Toast by 14.2% during the third quarter. Zacks Investment Management now owns 338,017 shares of the company’s stock worth $9,569,000 after purchasing an additional 42,100 shares during the period. Finally, Jupiter Asset Management Ltd. increased its holdings in Toast by 134.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company’s stock worth $14,319,000 after purchasing an additional 225,215 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Oppenheimer assumed coverage on shares of Toast in a report on Friday, January 24th. They issued an “outperform” rating and a $46.00 price target for the company. Canaccord Genuity Group upped their price objective on shares of Toast from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, February 20th. BMO Capital Markets raised their target price on Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $38.00 price target (down from $44.00) on shares of Toast in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $40.48.

Toast Trading Down 1.2 %

Shares of Toast stock opened at $33.18 on Tuesday. The business’s fifty day simple moving average is $37.63 and its 200 day simple moving average is $35.60. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $44.12. The firm has a market capitalization of $16.39 billion, a P/E ratio of -3,314.49, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST) last released 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). The business had revenue of $1.34 billion for 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%. Analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Insider Activity

In other news, Director Christopher P. Comparato sold 70,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the completion of the transaction, the director now owns 164,796 shares in the company, valued at approximately $5,884,865.16. This represents a 29.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the completion of the sale, the president now directly owns 1,644,656 shares of the company’s stock, valued at approximately $65,177,717.28. This trade represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,770 shares of company stock valued at $9,409,211 in the last three months. Company 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.