Wisconsin Capital Management LLC Reduces Position in Toast, Inc. (NYSE:TOST)

Wisconsin Capital Management LLC decreased its stake in shares of Toast, Inc. (NYSE:TOST) by 15.5% during the fourth quarter, HoldingsChannel reports. The firm owned 135,825 shares of the company’s stock after selling 25,000 shares during the quarter. Toast makes up about 2.7% of Wisconsin Capital Management LLC’s investment portfolio, making the stock its 14th largest position. Wisconsin Capital Management LLC’s holdings in Toast were worth $4,951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in shares of Toast by 2.3% during the third quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after buying an additional 155,212 shares during the last quarter. MML Investors Services LLC lifted its position in Toast by 40.6% during the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock worth $6,464,000 after acquiring an additional 65,957 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Toast by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock valued at $107,108,000 after purchasing an additional 155,446 shares during the last quarter. Zacks Investment Management increased its holdings in shares of Toast by 14.2% in the third quarter. Zacks Investment Management now owns 338,017 shares of the company’s stock valued at $9,569,000 after purchasing an additional 42,100 shares during the period. Finally, Jupiter Asset Management Ltd. raised its stake in shares of Toast by 134.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company’s stock worth $14,319,000 after purchasing an additional 225,215 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Up 3.2 %

Shares of NYSE TOST opened at $34.25 on Wednesday. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The company’s 50-day simple moving average is $37.63 and its 200-day simple moving average is $35.60. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of -3,421.28, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. Equities research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on TOST. Keefe, Bruyette & Woods upped their target price on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Thursday, February 20th. Royal Bank of Canada increased their price objective on shares of Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. DA Davidson restated a “neutral” rating and set a $38.00 target price (down from $44.00) on shares of Toast in a research report on Thursday, December 5th. Oppenheimer started coverage on shares of Toast in a report on Friday, January 24th. They issued an “outperform” rating and a $46.00 price target on the stock. Finally, BMO Capital Markets lifted their price objective on Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and a consensus target price of $40.48.

Insider Activity at Toast

In related news, President Stephen Fredette sold 1,068 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the transaction, the president now directly owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Deval L. Patrick sold 34,222 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the completion of the sale, the director now owns 13,260 shares of the company’s stock, valued at approximately $437,712.60. The trade was a 72.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 270,770 shares of company stock valued at $9,409,211. 13.32% of the stock is owned by insiders.

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.