Victory Capital Management Inc. Acquires 69,176 Shares of Toast, Inc. (NYSE:TOST)

Victory Capital Management Inc. raised its holdings in shares of Toast, Inc. (NYSE:TOST) by 139.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 118,839 shares of the company’s stock after acquiring an additional 69,176 shares during the period. Victory Capital Management Inc.’s holdings in Toast were worth $4,332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. ValueAct Holdings L.P. bought a new stake in shares of Toast in the 3rd quarter valued at $438,301,000. FMR LLC increased its position in shares of Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after buying an additional 8,205,053 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Toast by 129,058.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company’s stock valued at $75,466,000 after buying an additional 2,072,680 shares in the last quarter. Perpetual Ltd bought a new stake in shares of Toast in the 4th quarter valued at $60,878,000. Finally, Worldquant Millennium Advisors LLC increased its position in shares of Toast by 1,475.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company’s stock valued at $24,091,000 after buying an additional 796,936 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 653 shares of the company’s stock in a transaction dated 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 represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Elena Gomez sold 2,052 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $81,320.76. Following the completion of the sale, the chief financial officer now owns 160,498 shares in the company, valued at $6,360,535.74. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,641 shares of company stock worth $8,937,776. Company insiders own 13.32% of the company’s stock.

Toast Stock Up 5.5 %

TOST stock opened at $34.41 on Friday. The firm has a market cap of $17.00 billion, a price-to-earnings ratio of -3,437.06, a PEG ratio of 2.16 and a beta of 1.99. Toast, Inc. has a 12-month low of $21.32 and a 12-month high of $44.12. The company’s fifty day simple moving average is $38.05 and its 200 day simple moving average is $34.70.

Toast (NYSE:TOST) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a net margin of 0.40% and a return on equity of 1.54%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group upped their target price 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. Wells Fargo & Company increased their price target on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Robert W. Baird increased their price target on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Oppenheimer began coverage on shares of Toast in a report on Friday, January 24th. They set an “outperform” rating and a $46.00 target price on the stock. Finally, Compass Point began coverage on shares of Toast in a research report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price target on the stock. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $40.48.

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.