Empowered Funds LLC Buys 153,211 Shares of Toast, Inc. $TOST

Empowered Funds LLC raised its stake in Toast, Inc. (NYSE:TOST) by 159.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,593 shares of the company’s stock after acquiring an additional 153,211 shares during the period. Empowered Funds LLC’s holdings in Toast were worth $11,054,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ameritas Advisory Services LLC acquired a new position in Toast in the second quarter valued at about $31,000. REAP Financial Group LLC grew its stake in Toast by 173.3% during the second quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after buying an additional 506 shares in the last quarter. Motco bought a new position in Toast in the 2nd quarter valued at about $44,000. Cullen Frost Bankers Inc. raised its position in shares of Toast by 1,383.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,009 shares of the company’s stock valued at $45,000 after buying an additional 941 shares in the last quarter. Finally, Whipplewood Advisors LLC lifted its holdings in shares of Toast by 2,356.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 1,007 shares of the company’s stock worth $45,000 after acquiring an additional 966 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Brian R. Elworthy sold 1,059 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total value of $37,636.86. Following the sale, the general counsel directly owned 229,017 shares in the company, valued at $8,139,264.18. This represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 1,732 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total transaction of $61,555.28. Following the transaction, the president owned 900,264 shares of the company’s stock, valued at approximately $31,995,382.56. The trade was a 0.19% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 62,259 shares of company stock valued at $2,299,020. Corporate insiders own 12.14% of the company’s stock.

Toast Price Performance

NYSE:TOST opened at $33.75 on Wednesday. The firm’s 50 day simple moving average is $37.52 and its 200 day simple moving average is $41.50. The company has a market cap of $17.38 billion, a PE ratio of 78.50 and a beta of 1.94. Toast, Inc. has a one year low of $28.12 and a one year high of $49.66.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on TOST shares. JPMorgan Chase & Co. decreased their price objective on shares of Toast from $52.00 to $43.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Robert W. Baird reduced their target price on Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Canaccord Genuity Group lifted their target price on Toast from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Wolfe Research reissued an “outperform” rating and issued a $48.00 target price on shares of Toast in a report on Wednesday, November 5th. Finally, Wells Fargo & Company upgraded shares of Toast to a “strong-buy” rating in a research note on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.45.

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.