Saudi Central Bank Boosts Stake in Toast, Inc. $TOST

Saudi Central Bank boosted its position in Toast, Inc. (NYSE:TOST) by 93.0% in the 2nd quarter, Holdings Channel reports. The firm owned 33,013 shares of the company’s stock after buying an additional 15,905 shares during the quarter. Saudi Central Bank’s holdings in Toast were worth $918,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TOST. Arkfeld Wealth Strategies L.L.C. increased its stake in Toast by 138.8% in the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 264,821 shares of the company’s stock worth $7,807,000 after purchasing an additional 153,928 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Toast by 47.4% during the second quarter. Assenagon Asset Management S.A. now owns 970,799 shares of the company’s stock valued at $27,008,000 after purchasing an additional 312,077 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Toast by 1,925.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 985,653 shares of the company’s stock worth $35,001,000 after purchasing an additional 936,987 shares during the last quarter. Lavelle Capital LP bought a new position in shares of Toast in the first quarter worth about $1,458,000. Finally, Quantitative Investment Management LLC grew its holdings in shares of Toast by 120.1% in the second quarter. Quantitative Investment Management LLC now owns 63,823 shares of the company’s stock worth $1,775,000 after purchasing an additional 34,831 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Price Performance

TOST stock opened at $32.40 on Thursday. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $42.15. The business has a 50-day moving average price of $32.71 and a 200 day moving average price of $28.66. The company has a market capitalization of $16.66 billion, a P/E ratio of 41.54 and a beta of 1.72.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.87 billion. Toast had a return on equity of 23.90% and a net margin of 7.14%.The firm’s revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 earnings per share. On average, analysts anticipate that Toast, Inc. will post 1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TOST has been the subject of a number of research analyst reports. Zacks Research lowered shares of Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Truist Financial upped their target price on shares of Toast from $33.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. BTIG Research reaffirmed a “neutral” rating on shares of Toast in a research report on Thursday, August 27th. Oppenheimer lifted their price target on shares of Toast from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, BMO Capital Markets lifted their price target on shares of Toast from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Sixteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.12.

Insider Activity at Toast

In related news, CFO Elena Gomez sold 16,176 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 $570,851.04. Following the completion of the transaction, the chief financial officer owned 168,974 shares of the company’s stock, valued at $5,963,092.46. The trade was a 8.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Vassil sold 85,280 shares of the company’s stock in a transaction 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 owned 69,966 shares of the company’s stock, valued at approximately $2,542,564.44. This represents a 54.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 522,533 shares of company stock valued at $18,172,786 over the last ninety days. 10.03% of the stock is owned by company insiders.

Toast Company Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other food-service businesses. Its platform combines point-of-sale hardware and software with tools for order management, payments, menu management, reporting and business operations.

The company also offers products and services that support employee management, payroll, inventory, scheduling, online ordering, delivery, gift cards, loyalty programs and guest engagement. Toast’s integrated approach is intended to help restaurants manage front-of-house and back-of-house activities through a single platform.

Toast was founded in 2011 and is headquartered in Boston, Massachusetts.