Atika Capital Management LLC Purchases Shares of 192,600 Toast, Inc. (NYSE:TOST)

Atika Capital Management LLC acquired a new position in shares of Toast, Inc. (NYSE:TOST) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 192,600 shares of the company’s stock, valued at approximately $7,020,000.

Other large investors have also modified their holdings of the company. Bank of Montreal Can grew its stake in Toast by 6.5% during the 3rd quarter. Bank of Montreal Can now owns 65,607 shares of the company’s stock worth $1,837,000 after buying an additional 3,996 shares during the last quarter. Townsquare Capital LLC increased its holdings in shares of Toast by 13.5% in the 3rd quarter. Townsquare Capital LLC now owns 9,217 shares of the company’s stock valued at $261,000 after acquiring an additional 1,095 shares during the period. Investment Management Corp of Ontario raised its position in Toast by 53.8% in the 3rd quarter. Investment Management Corp of Ontario now owns 12,011 shares of the company’s stock valued at $340,000 after purchasing an additional 4,200 shares during the last quarter. IHT Wealth Management LLC raised its position in Toast by 2.7% in the 3rd quarter. IHT Wealth Management LLC now owns 22,167 shares of the company’s stock valued at $628,000 after purchasing an additional 583 shares during the last quarter. Finally, State Street Corp grew its position in Toast by 2.5% during the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after purchasing an additional 206,789 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Price Performance

Shares of TOST stock opened at $30.58 on Friday. The firm’s 50-day simple moving average is $37.16 and its 200-day simple moving average is $35.67. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $44.12. The firm has a market cap of $15.10 billion, a P/E ratio of -3,054.55, a PEG ratio of 2.16 and a beta of 2.00.

Toast (NYSE:TOST) last announced 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). The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. Analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Toast

In other Toast news, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction that occurred on 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 transaction, the director now directly owns 164,796 shares of the company’s stock, valued at $5,884,865.16. The trade was a 29.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Stephen Fredette sold 1,068 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $42,324.84. Following the completion of the sale, the president now directly owns 1,644,656 shares of the company’s stock, valued at $65,177,717.28. The trade was a 0.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 270,770 shares of company stock valued at $9,409,211. Company insiders own 13.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Canaccord Genuity Group boosted their price target on Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. UBS Group upped their price target on Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Wells Fargo & Company lifted their price objective on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Oppenheimer began coverage on shares of Toast in a research report on Friday, January 24th. They set an “outperform” rating and a $46.00 price objective for the company. Finally, The Goldman Sachs Group lowered their target price on shares of Toast from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Toast presently has a consensus rating of “Hold” and an average price target of $40.38.

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.