Toast, Inc. $TOST Stake Raised by Ascent Group LLC

Ascent Group LLC raised its holdings in shares of Toast, Inc. (NYSE:TOST) by 9.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,030 shares of the company’s stock after acquiring an additional 2,026 shares during the quarter. Ascent Group LLC’s holdings in Toast were worth $1,020,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TOST. Principal Financial Group Inc. grew its holdings in shares of Toast by 14,258.8% during the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock valued at $181,587,000 after acquiring an additional 5,436,317 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Toast by 17.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock valued at $777,978,000 after purchasing an additional 3,490,686 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in Toast in the 1st quarter worth about $86,650,000. HMI Capital Management L.P. raised its stake in shares of Toast by 57.7% during the 1st quarter. HMI Capital Management L.P. now owns 5,203,183 shares of the company’s stock worth $172,590,000 after purchasing an additional 1,904,040 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Toast during the 1st quarter valued at about $56,473,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

TOST has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price target on shares of Toast from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Morgan Stanley raised their target price on Toast from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Citigroup reiterated a “buy” rating on shares of Toast in a research note on Wednesday, July 16th. Wall Street Zen upgraded Toast from a “hold” rating to a “buy” rating in a report on Friday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Toast in a research report on Saturday, September 27th. Fifteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.30.

Toast Trading Up 1.3%

TOST opened at $36.58 on Monday. The business has a 50 day moving average of $42.32 and a 200-day moving average of $40.85. The stock has a market capitalization of $18.66 billion, a price-to-earnings ratio of 107.60 and a beta of 1.94. Toast, Inc. has a 1-year low of $27.65 and a 1-year high of $49.66.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). Toast had a return on equity of 14.19% and a net margin of 4.07%.The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the firm posted $0.02 EPS. The company’s revenue was up 24.8% compared to the same quarter last year. Equities analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

Insider Buying and Selling at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 4,987 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $177,337.72. Following the completion of the sale, the general counsel owned 227,924 shares in the company, valued at approximately $8,104,977.44. This trade represents a 2.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jonathan Vassil sold 6,530 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $232,206.80. Following the sale, the executive owned 69,932 shares in the company, valued at approximately $2,486,781.92. This represents a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,196 shares of company stock valued at $2,398,513 over the last quarter. Company insiders own 12.14% of the company’s stock.

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.