CHURCHILL MANAGEMENT Corp Decreases Stock Holdings in Toast, Inc. $TOST

CHURCHILL MANAGEMENT Corp lowered its holdings in Toast, Inc. (NYSE:TOST) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,735 shares of the company’s stock after selling 361 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Toast were worth $1,317,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its holdings in Toast by 19.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company’s stock valued at $829,000 after purchasing an additional 3,713 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Toast by 4,500.2% in the first quarter. GAMMA Investing LLC now owns 128,069 shares of the company’s stock worth $4,248,000 after buying an additional 125,285 shares during the period. Parallel Advisors LLC grew its stake in shares of Toast by 91.2% in the first quarter. Parallel Advisors LLC now owns 2,692 shares of the company’s stock valued at $89,000 after buying an additional 1,284 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Toast by 3.3% during the 1st quarter. Rhumbline Advisers now owns 602,083 shares of the company’s stock valued at $19,971,000 after buying an additional 19,457 shares during the period. Finally, Merit Financial Group LLC lifted its position in Toast by 23.1% during the 1st quarter. Merit Financial Group LLC now owns 7,892 shares of the company’s stock worth $262,000 after acquiring an additional 1,483 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Performance

Shares of Toast stock opened at $36.09 on Friday. Toast, Inc. has a 1 year low of $26.91 and a 1 year high of $49.66. The firm’s 50-day simple moving average is $42.57 and its 200-day simple moving average is $40.76. The firm has a market cap of $18.41 billion, a PE ratio of 106.15 and a beta of 1.94.

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

Insider Buying and Selling at Toast

In related news, CEO Aman Narang sold 1,719 shares of the firm’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $83,165.22. Following the transaction, the chief executive officer directly owned 304,300 shares in the company, valued at $14,722,034. This trade represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Stephen Fredette sold 1,720 shares of Toast stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $83,213.60. Following the completion of the transaction, the president directly owned 890,818 shares of the company’s stock, valued at approximately $43,097,774.84. This represents a 0.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,423 shares of company stock worth $913,065. 12.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TOST. The Goldman Sachs Group increased their price objective on shares of Toast from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Needham & Company LLC upped their target price on shares of Toast from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Wells Fargo & Company initiated coverage on shares of Toast in a research note on Wednesday, July 16th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Toast in a report on Thursday, July 17th. They issued a “buy” rating and a $54.00 price objective on the stock. Finally, Truist Financial raised their target price on Toast from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Fifteen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Toast has an average rating of “Moderate Buy” and an average target price of $46.30.

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.