204,098 Shares in Toast, Inc. $TOST Acquired by Panagora Asset Management Inc.

Panagora Asset Management Inc. acquired a new stake in shares of Toast, Inc. (NYSE:TOST) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 204,098 shares of the company’s stock, valued at approximately $9,040,000.

A number of other institutional investors have also recently modified their holdings of the stock. Avantax Advisory Services Inc. raised its position in shares of Toast by 9.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 9,821 shares of the company’s stock worth $326,000 after purchasing an additional 839 shares during the last quarter. Cetera Investment Advisers increased its stake in Toast by 22.1% during the 1st quarter. Cetera Investment Advisers now owns 64,995 shares of the company’s stock valued at $2,156,000 after purchasing an additional 11,747 shares in the last quarter. LPL Financial LLC raised its holdings in Toast by 14.4% in the first quarter. LPL Financial LLC now owns 135,044 shares of the company’s stock worth $4,479,000 after buying an additional 17,026 shares during the last quarter. US Bancorp DE raised its holdings in Toast by 23.3% in the first quarter. US Bancorp DE now owns 51,513 shares of the company’s stock worth $1,709,000 after buying an additional 9,748 shares during the last quarter. Finally, Jefferies Financial Group Inc. lifted its stake in shares of Toast by 182.6% in the first quarter. Jefferies Financial Group Inc. now owns 28,722 shares of the company’s stock worth $953,000 after buying an additional 63,491 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CRO Jonathan Vassil sold 6,530 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $232,206.80. Following the completion of the transaction, the executive directly owned 69,932 shares of the company’s stock, valued at approximately $2,486,781.92. This represents a 8.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Fredette sold 7,550 shares of Toast stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $268,478.00. Following the completion of the sale, the president directly owned 898,475 shares in the company, valued at approximately $31,949,771. The trade was a 0.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 49,759 shares of company stock valued at $1,769,270. 12.14% of the stock is owned by corporate insiders.

Toast Price Performance

Shares of NYSE:TOST opened at $33.84 on Wednesday. The company has a market capitalization of $17.43 billion, a P/E ratio of 78.71 and a beta of 1.94. Toast, Inc. has a 1-year low of $28.12 and a 1-year high of $49.66. The firm’s 50 day simple moving average is $36.22 and its two-hundred day simple moving average is $41.00.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a net margin of 4.68% and a return on equity of 15.77%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the business earned $0.07 earnings per share. The firm’s revenue for the quarter was up 25.1% on a year-over-year basis. On average, sell-side analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on TOST. Robert W. Baird decreased their price objective on shares of Toast from $48.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Keefe, Bruyette & Woods reduced their target price on Toast from $50.00 to $42.00 and set a “market perform” rating for the company in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Toast in a report on Monday. Wells Fargo & Company upgraded Toast to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Wolfe Research restated an “outperform” rating and set a $48.00 target price on shares of Toast in a research note on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $45.18.

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.