Toast, Inc. (NYSE:TOST) is Granahan Investment Management LLC’s 8th Largest Position

Granahan Investment Management LLC lessened its holdings in shares of Toast, Inc. (NYSE:TOST) by 30.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,578,370 shares of the company’s stock after selling 702,557 shares during the quarter. Toast makes up 2.4% of Granahan Investment Management LLC’s portfolio, making the stock its 8th largest holding. Granahan Investment Management LLC’s holdings in Toast were worth $57,532,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership purchased a new position in Toast during the fourth quarter valued at approximately $282,010,000. Norges Bank bought a new position in Toast in the 4th quarter worth $205,888,000. FMR LLC increased its stake in Toast by 22.1% in the 4th quarter. FMR LLC now owns 29,853,639 shares of the company’s stock worth $1,088,165,000 after buying an additional 5,403,896 shares in the last quarter. Vanguard Group Inc. raised its holdings in Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock valued at $1,548,186,000 after acquiring an additional 4,147,430 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Toast by 255.0% in the fourth quarter. Renaissance Technologies LLC now owns 3,504,212 shares of the company’s stock valued at $127,729,000 after acquiring an additional 2,517,012 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on TOST shares. UBS Group lifted their target price on Toast from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. BMO Capital Markets boosted their target price on shares of Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Evercore ISI assumed coverage on shares of Toast in a research note on Wednesday, April 9th. They set an “in-line” rating and a $29.00 target price for the company. BNP Paribas set a $37.00 price target on shares of Toast and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, DA Davidson cut their price objective on Toast from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $40.91.

Insider Activity

In related news, President Stephen Fredette sold 44,056 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $35.15, for a total value of $1,548,568.40. Following the transaction, the president now owns 1,447,717 shares of the company’s stock, valued at $50,887,252.55. This trade represents a 2.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the sale, the director now owns 164,796 shares of the company’s stock, valued at $5,884,865.16. The trade was a 29.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 335,991 shares of company stock valued at $11,614,520. 13.32% of the stock is currently owned by insiders.

Toast Stock Up 11.5 %

NYSE TOST opened at $40.85 on Friday. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $44.12. The firm has a market capitalization of $20.32 billion, a price-to-earnings ratio of -4,080.92, a PEG ratio of 2.16 and a beta of 1.98. The company has a fifty day moving average of $34.56 and a two-hundred day moving average of $36.81.

Toast (NYSE:TOST) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS 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 firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Equities research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

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.