Wellington Management Group LLP Sells 13,822 Shares of Toast, Inc. (NYSE:TOST)

Wellington Management Group LLP reduced its position in shares of Toast, Inc. (NYSE:TOST) by 42.8% in the 4th quarter, HoldingsChannel reports. The firm owned 18,498 shares of the company’s stock after selling 13,822 shares during the period. Wellington Management Group LLP’s holdings in Toast were worth $674,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TOST. Geode Capital Management LLC lifted its position in Toast by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after buying an additional 155,212 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Toast by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock worth $107,108,000 after buying an additional 155,446 shares during the last quarter. Jupiter Asset Management Ltd. grew its position in shares of Toast by 134.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company’s stock worth $14,319,000 after buying an additional 225,215 shares during the period. New York Life Investment Management LLC acquired a new stake in Toast in the fourth quarter worth $1,572,000. Finally, Forsta AP Fonden grew its stake in Toast by 191.4% in the fourth quarter. Forsta AP Fonden now owns 234,300 shares of the company’s stock valued at $8,540,000 after acquiring an additional 153,900 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Stock Performance

NYSE:TOST opened at $34.59 on Tuesday. The company has a market cap of $17.09 billion, a price-to-earnings ratio of -3,455.54, a PEG ratio of 2.16 and a beta of 2.00. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12. The stock has a fifty day moving average price of $35.97 and a 200-day moving average price of $36.02.

Toast (NYSE:TOST) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.32 billion. Research analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Insider Activity

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $25,878.39. Following the sale, the general counsel now owns 209,206 shares in the company, valued at $8,290,833.78. This trade represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the sale, the president now directly owns 1,644,656 shares in the company, valued at $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 270,770 shares of company stock worth $9,409,211. Insiders own 13.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Toast in a report on Thursday, February 20th. The Goldman Sachs Group lowered their price target on shares of Toast from $43.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Canaccord Genuity Group increased their price objective on shares of Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. BNP Paribas set a $37.00 price objective on Toast and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company raised shares of Toast from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $30.00 to $39.00 in a research report on Thursday, April 10th. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Toast presently has an average rating of “Hold” and an average target price of $40.27.

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.