Glynn Capital Management LLC Acquires 54,889 Shares of Toast, Inc. $TOST

Glynn Capital Management LLC increased its stake in shares of Toast, Inc. (NYSE:TOST) by 10.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 573,784 shares of the company’s stock after purchasing an additional 54,889 shares during the quarter. Toast accounts for 5.7% of Glynn Capital Management LLC’s holdings, making the stock its 5th largest holding. Glynn Capital Management LLC owned about 0.12% of Toast worth $25,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in Toast by 17.1% in the first quarter. Envestnet Asset Management Inc. now owns 369,803 shares of the company’s stock valued at $12,266,000 after purchasing an additional 54,093 shares during the last quarter. Alps Advisors Inc. purchased a new stake in shares of Toast in the first quarter valued at about $342,000. Arizona State Retirement System lifted its position in Toast by 1.8% during the 1st quarter. Arizona State Retirement System now owns 115,806 shares of the company’s stock worth $3,841,000 after acquiring an additional 1,993 shares during the period. CWM LLC lifted its holdings in shares of Toast by 76.2% during the first quarter. CWM LLC now owns 8,732 shares of the company’s stock worth $290,000 after purchasing an additional 3,777 shares during the period. Finally, Edgestream Partners L.P. boosted its holdings in shares of Toast by 458.5% in the first quarter. Edgestream Partners L.P. now owns 153,349 shares of the company’s stock valued at $5,087,000 after acquiring an additional 125,893 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Trading Down 1.7%

Shares of NYSE TOST opened at $37.52 on Wednesday. Toast, Inc. has a twelve month low of $28.12 and a twelve month high of $49.66. The firm has a 50-day moving average of $38.06 and a two-hundred day moving average of $41.49. The company has a market capitalization of $19.32 billion, a price-to-earnings ratio of 87.26 and a beta of 1.94.

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

Insider Transactions at Toast

In other Toast news, CRO Jonathan Vassil sold 6,530 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $232,206.80. Following the transaction, the executive 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul D. Bell sold 12,500 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $42.38, for a total value of $529,750.00. Following the sale, the director owned 226,892 shares of the company’s stock, valued at $9,615,682.96. This trade represents a 5.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 62,259 shares of company stock valued at $2,299,020 in the last 90 days. 12.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TOST. Citigroup upgraded shares of Toast to a “strong-buy” rating in a research report on Thursday, October 23rd. Canaccord Genuity Group increased their target price on shares of Toast from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Needham & Company LLC upped their target price on Toast from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Wells Fargo & Company raised shares of Toast to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Toast in a research report on Thursday, July 17th. They issued a “buy” rating and a $54.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $45.64.

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.