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

Victory Capital Management Inc. boosted its position in Toast, Inc. (NYSE:TOST) by 139.3% in the fourth quarter, HoldingsChannel reports. The firm owned 118,839 shares of the company’s stock after buying an additional 69,176 shares during the quarter. Victory Capital Management Inc.’s holdings in Toast were worth $4,332,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after acquiring an additional 378 shares during the period. Piscataqua Savings Bank bought a new position in shares of Toast during the 4th quarter valued at approximately $26,000. Stonebridge Financial Group LLC bought a new position in shares of Toast during the 4th quarter valued at approximately $34,000. SBI Securities Co. Ltd. bought a new position in shares of Toast during the 4th quarter valued at approximately $35,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Toast during the 4th quarter valued at approximately $40,000. 82.91% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Christopher P. Comparato sold 145,000 shares of Toast stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the sale, the director now owns 182,451 shares of the company’s stock, valued at approximately $6,575,534.04. The trade was a 44.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Stephen Fredette sold 70,340 shares of Toast stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the transaction, the president now directly owns 1,574,316 shares of the company’s stock, valued at approximately $53,322,082.92. This trade represents a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,641 shares of company stock valued at $8,937,776. Corporate insiders own 13.32% of the company’s stock.

Wall Street Analyst Weigh In

TOST has been the topic of a number of recent research reports. Royal Bank of Canada upped their price target on shares of Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Robert W. Baird upped their price target on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. BMO Capital Markets upped their price target on shares of Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. UBS Group upped their price target on shares of Toast from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company increased their target price on shares of Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. One research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.48.

Toast Stock Up 5.5 %

Shares of Toast stock opened at $34.41 on Friday. The firm has a market cap of $17.00 billion, a PE ratio of -3,437.06, a price-to-earnings-growth 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 two-hundred day simple moving average is $34.70.

Toast (NYSE:TOST) last announced its 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). The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. As a group, sell-side analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Toast Company 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.