20,158 Shares in Toast, Inc. $TOST Purchased by ProShare Advisors LLC

ProShare Advisors LLC bought a new stake in Toast, Inc. (NYSE:TOST) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,158 shares of the company’s stock, valued at approximately $584,000.

A number of other large investors have also modified their holdings of TOST. Principal Financial Group Inc. lifted its position in Toast by 36.0% in the first quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company’s stock worth $211,478,000 after purchasing an additional 2,111,009 shares during the period. Junto Capital Management LP bought a new stake in Toast in the 2nd quarter valued at $54,320,000. Wellington Management Group LLP increased its holdings in Toast by 131.9% in the 2nd quarter. Wellington Management Group LLP now owns 2,456,114 shares of the company’s stock valued at $68,329,000 after buying an additional 1,397,021 shares during the period. Lead Edge Capital Management LLC acquired a new position in shares of Toast in the 1st quarter valued at $34,632,000. Finally, Light Street Capital Management LLC acquired a new position in shares of Toast in the 2nd quarter valued at $32,480,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Jefferies Financial Group set a $40.00 price objective on shares of Toast in a report on Wednesday, August 5th. BNP Paribas Exane cut shares of Toast from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $38.00 to $35.00 in a research note on Wednesday, September 2nd. Morgan Stanley lowered their target price on shares of Toast from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday. Barclays increased their price target on shares of Toast from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Finally, Bank of America began coverage on shares of Toast in a research note on Thursday, October 15th. They set a “buy” rating and a $40.00 price target for the company. Seventeen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.65.

Toast Stock Performance

Shares of NYSE TOST opened at $34.64 on Monday. The stock has a market cap of $17.98 billion, a PE ratio of 38.06 and a beta of 1.74. The business has a fifty day moving average of $31.86 and a two-hundred day moving average of $29.41. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $38.64.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, November 3rd. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.08). Toast had a net margin of 7.69% and a return on equity of 26.39%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the firm posted $0.16 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. Analysts predict that Toast, Inc. will post 1.00 earnings per share for the current year.

Insider Activity

In related news, CRO Jonathan Vassil sold 85,280 shares of Toast stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $36.34, for a total transaction of $3,099,075.20. Following the completion of the transaction, the executive directly owned 69,966 shares of the company’s stock, valued at $2,542,564.44. This trade represents a 54.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Elena Gomez sold 11,886 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $29.35, for a total transaction of $348,854.10. Following the completion of the transaction, the chief financial officer owned 171,957 shares in the company, valued at approximately $5,046,937.95. This trade represents a 6.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 209,730 shares of company stock valued at $7,105,015. Company insiders own 10.03% of the company’s stock.

Toast Company Profile

Toast, Inc provides a cloud-based technology platform designed for restaurants. Its products combine point-of-sale software and hardware with payment processing, helping restaurants manage in-person transactions and day-to-day operations.

The platform includes tools for online ordering, delivery, marketing, customer loyalty, payroll, and team management, alongside features for managing menus and restaurant operations. Restaurants can use Toast’s products together or select services to fit their needs.

Founded in 2011 and headquartered in Boston, Toast serves restaurants in the United States and selected international markets.