Assetmark Inc. Purchases 178,850 Shares of Toast, Inc. $TOST

Assetmark Inc. increased its position in shares of Toast, Inc. (NYSE:TOST) by 155,521.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 178,965 shares of the company’s stock after acquiring an additional 178,850 shares during the period. Assetmark Inc.’s holdings in Toast were worth $7,926,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new position in shares of Toast during the 2nd quarter worth approximately $31,000. Wayfinding Financial LLC acquired a new position in Toast during the 1st quarter valued at approximately $34,000. REAP Financial Group LLC increased its stake in Toast by 173.3% during the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock valued at $35,000 after purchasing an additional 506 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Toast by 29.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock valued at $42,000 after purchasing an additional 284 shares in the last quarter. Finally, Motco acquired a new position in Toast during the 2nd quarter valued at approximately $44,000. Institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TOST shares. Keefe, Bruyette & Woods cut their price target on shares of Toast from $50.00 to $42.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 1st. Wall Street Zen upgraded shares of Toast from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. JPMorgan Chase & Co. upped their price target on shares of Toast from $42.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Jefferies Financial Group upped their price target on shares of Toast from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Finally, The Goldman Sachs Group cut their price target on shares of Toast from $51.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.17.

Toast Price Performance

NYSE:TOST opened at $36.13 on Monday. The firm has a market capitalization of $18.43 billion, a P/E ratio of 106.26 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 company’s fifty day moving average price is $39.08 and its 200-day moving average price is $41.38.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. Toast had a return on equity of 14.19% and a net margin of 4.07%.The firm’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.02 EPS. Equities analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Insider Activity at Toast

In related news, CFO Elena Gomez sold 9,054 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $321,960.24. Following the sale, the chief financial officer owned 149,572 shares in the company, valued at approximately $5,318,780.32. This trade represents a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aman Narang sold 13,652 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $485,465.12. Following the sale, the chief executive officer owned 318,150 shares in the company, valued at approximately $11,313,414. This represents a 4.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,273 shares of company stock valued at $2,015,198 in the last quarter. 12.14% of the stock is currently owned by insiders.

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.