Seven Eight Capital LP Buys 16,755 Shares of Toast, Inc. (NYSE:TOST)

Seven Eight Capital LP grew its stake in Toast, Inc. (NYSE:TOSTFree Report) by 88.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,632 shares of the company’s stock after acquiring an additional 16,755 shares during the period. Seven Eight Capital LP’s holdings in Toast were worth $651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TOST. Morgan Stanley grew its holdings in Toast by 149.3% during the third quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock worth $224,896,000 after purchasing an additional 7,191,595 shares during the period. Norges Bank bought a new position in Toast during the fourth quarter worth about $76,699,000. Meritage Group LP bought a new position in Toast during the fourth quarter worth about $70,270,000. Vanguard Group Inc. grew its holdings in Toast by 11.1% during the third quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock worth $657,032,000 after purchasing an additional 3,494,579 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Toast by 69.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,600,377 shares of the company’s stock worth $120,523,000 after purchasing an additional 2,708,597 shares during the period. Institutional investors own 82.91% of the company’s stock.

Toast Price Performance

Toast stock opened at $22.56 on Tuesday. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $27.90. The stock has a fifty day moving average of $24.16 and a 200-day moving average of $21.17.

Toast (NYSE:TOSTGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.15). Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the company earned ($0.16) EPS. The firm’s quarterly revenue was up 31.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Toast, Inc. will post -0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TOST shares. Wedbush reiterated an “outperform” rating and set a $30.00 price target on shares of Toast in a report on Thursday, May 30th. BNP Paribas upgraded shares of Toast from a “neutral” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Thursday, March 7th. Piper Sandler raised their price objective on shares of Toast from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Robert W. Baird downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research report on Tuesday, May 21st. Finally, Baird R W downgraded shares of Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.14.

Check Out Our Latest Stock Report on TOST

Insider Activity

In other Toast news, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $57,821.40. Following the completion of the transaction, the chief executive officer now directly owns 1,114,454 shares in the company, valued at approximately $26,078,223.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CRO Jonathan Vassil sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $25.79, for a total value of $1,289,500.00. Following the transaction, the executive now owns 26,897 shares in the company, valued at approximately $693,673.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aman Narang sold 2,471 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $57,821.40. Following the sale, the chief executive officer now owns 1,114,454 shares of the company’s stock, valued at $26,078,223.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 243,010 shares of company stock valued at $6,001,260. 13.32% of the stock is currently owned by corporate insiders.

Toast Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Toast (NYSE:TOST)

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