Victory Capital Management Inc. Has $22.67 Million Stake in Toast, Inc. (NYSE:TOST)

Victory Capital Management Inc. lifted its position in shares of Toast, Inc. (NYSE:TOST – Get Rating) by 79.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,249,618 shares of the company’s stock after purchasing an additional 551,327 shares during the quarter. Victory Capital Management Inc.’s holdings in Toast were worth $22,671,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP acquired a new position in shares of Toast during the fourth quarter worth approximately $3,360,000. Principal Financial Group Inc. raised its position in Toast by 600.1% in the 4th quarter. Principal Financial Group Inc. now owns 201,246 shares of the company’s stock valued at $3,628,000 after buying an additional 172,502 shares during the last quarter. Treasurer of the State of North Carolina raised its position in Toast by 4.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 110,668 shares of the company’s stock valued at $1,995,000 after buying an additional 4,240 shares during the last quarter. Citigroup Inc. raised its position in Toast by 365.2% in the 4th quarter. Citigroup Inc. now owns 102,380 shares of the company’s stock valued at $1,846,000 after buying an additional 80,373 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in Toast by 85.4% in the 4th quarter. HighTower Advisors LLC now owns 175,175 shares of the company’s stock valued at $3,157,000 after buying an additional 80,694 shares during the last quarter. 50.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Toast news, CEO Christopher P. Comparato sold 33,333 shares of the firm’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $16.70, for a total value of $556,661.10. Following the completion of the transaction, the chief executive officer now owns 109,895 shares in the company, valued at approximately $1,835,246.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Toast news, insider James Michael Matlock sold 6,091 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $17.16, for a total value of $104,521.56. Following the sale, the insider now owns 46,006 shares of the company’s stock, valued at approximately $789,462.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher P. Comparato sold 33,333 shares of the firm’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $16.70, for a total value of $556,661.10. Following the completion of the sale, the chief executive officer now directly owns 109,895 shares in the company, valued at approximately $1,835,246.50. The disclosure for this sale can be found here. Insiders sold a total of 391,727 shares of company stock worth $7,509,345 in the last quarter. 20.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TOST. Stephens began coverage on Toast in a research report on Thursday, April 13th. They issued an “equal weight” rating and a $18.00 price target for the company. Mizuho raised their target price on Toast from $23.00 to $25.00 in a research report on Tuesday, May 16th. Robert W. Baird decreased their target price on Toast from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, April 19th. DA Davidson reaffirmed a “buy” rating on shares of Toast in a research report on Monday, April 3rd. Finally, Needham & Company LLC decreased their target price on Toast from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, February 17th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.75.

Toast Stock Performance

TOST stock opened at $20.81 on Monday. Toast, Inc. has a fifty-two week low of $12.15 and a fifty-two week high of $26.03. The stock has a fifty day moving average of $17.89 and a 200-day moving average of $18.99. The company has a market capitalization of $11.04 billion, a price-to-earnings ratio of -32.02 and a beta of 1.75.

Toast (NYSE:TOST – Get Rating) last issued its earnings results on Tuesday, May 9th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.02. Toast had a negative return on equity of 29.74% and a negative net margin of 11.01%. The business had revenue of $819.00 million during the quarter, compared to the consensus estimate of $763.11 million. During the same quarter last year, the company earned ($0.20) EPS. The firm’s revenue was up 53.1% compared to the same quarter last year. Equities analysts predict that Toast, Inc. will post -0.57 EPS for the current year.

Toast Company Profile

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Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.