Quantitative Investment Management LLC Raises Stock Holdings in Toast, Inc. $TOST

Quantitative Investment Management LLC boosted its stake in shares of Toast, Inc. (NYSE:TOST) by 120.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,823 shares of the company’s stock after purchasing an additional 34,831 shares during the quarter. Quantitative Investment Management LLC’s holdings in Toast were worth $1,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Bayban purchased a new stake in shares of Toast during the fourth quarter valued at about $25,000. SHP Wealth Management purchased a new position in shares of Toast in the 4th quarter worth approximately $29,000. Strive Financial Group LLC purchased a new position in shares of Toast in the 4th quarter worth approximately $29,000. Ancora Advisors LLC bought a new position in shares of Toast during the 2nd quarter worth approximately $31,000. Finally, Silicon Valley Capital Partners bought a new position in shares of Toast during the 4th quarter worth approximately $36,000. 82.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Toast

In other Toast news, CRO Jonathan Vassil sold 85,280 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $36.34, for a total value of $3,099,075.20. Following the sale, the executive directly owned 69,966 shares of the company’s stock, valued at approximately $2,542,564.44. This trade represents a 54.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 124,542 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $35.29, for a total value of $4,395,087.18. Following the completion of the sale, the chief executive officer owned 175,458 shares of the company’s stock, valued at $6,191,912.82. This trade represents a 41.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 508,253 shares of company stock valued at $17,688,694. Corporate insiders own 10.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on TOST shares. Canaccord Genuity Group set a $40.00 target price on shares of Toast in a research note on Wednesday, August 5th. Piper Sandler upped their price target on Toast from $32.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Zacks Research cut Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Robert W. Baird raised their price objective on Toast from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Finally, Needham & Company LLC upped their target price on Toast from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Seventeen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and an average target price of $39.31.

Toast Price Performance

TOST stock opened at $34.21 on Tuesday. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $45.64. The company has a market capitalization of $17.58 billion, a P/E ratio of 43.86 and a beta of 1.72. The firm’s fifty day simple moving average is $31.77 and its 200-day simple moving average is $28.36.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Toast had a net margin of 7.14% and a return on equity of 23.90%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 EPS. As a group, sell-side analysts forecast that Toast, Inc. will post 1 earnings per share for the current year.

Toast Company Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.