Rakuten Investment Management Inc. Takes Position in Toast, Inc. $TOST

Rakuten Investment Management Inc. acquired a new position in shares of Toast, Inc. (NYSE:TOST) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 25,465 shares of the company’s stock, valued at approximately $930,000.

Several other large investors have also recently bought and sold shares of the business. NewEdge Advisors LLC grew its position in Toast by 1,555.5% during the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after buying an additional 16,379 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Toast by 23.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 32,217 shares of the company’s stock worth $1,404,000 after acquiring an additional 6,111 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Toast by 61.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,092 shares of the company’s stock worth $226,000 after acquiring an additional 1,941 shares during the period. Sowell Financial Services LLC purchased a new position in Toast in the 2nd quarter valued at approximately $204,000. Finally, GAMMA Investing LLC increased its stake in Toast by 7.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,139 shares of the company’s stock valued at $183,000 after purchasing an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In other news, CRO Jonathan Vassil sold 4,787 shares of Toast stock in a transaction on Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $164,577.06. Following the completion of the sale, the executive owned 79,802 shares of the company’s stock, valued at $2,743,592.76. The trade was a 5.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Stephen Fredette sold 4,866 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $167,293.08. Following the transaction, the president owned 910,606 shares in the company, valued at $31,306,634.28. This trade represents a 0.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 102,595 shares of company stock valued at $3,634,737. 12.14% of the stock is currently owned by insiders.

Toast Price Performance

Shares of NYSE TOST opened at $33.78 on Friday. The company has a 50-day simple moving average of $34.91 and a 200-day simple moving average of $38.98. The company has a market cap of $17.40 billion, a PE ratio of 78.56 and a beta of 1.93. Toast, Inc. has a 12 month low of $28.12 and a 12 month high of $49.66.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. Toast had a return on equity of 15.77% and a net margin of 4.68%.The firm’s revenue was up 25.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. On average, analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. BNP Paribas Exane upgraded Toast from a “hold” rating to an “outperform” rating and set a $40.00 target price on the stock in a research report on Monday, December 1st. Royal Bank Of Canada set a $45.00 price objective on shares of Toast in a research report on Wednesday, November 5th. Wolfe Research cut shares of Toast from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 8th. Jefferies Financial Group cut their target price on shares of Toast from $54.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, DA Davidson set a $42.00 price target on shares of Toast in a report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.82.

About Toast

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.