Vanguard Group Inc. Boosts Stake in Toast, Inc. $TOST

Vanguard Group Inc. boosted its position in Toast, Inc. (NYSE:TOST) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,411,722 shares of the company’s stock after purchasing an additional 466,138 shares during the period. Vanguard Group Inc. owned approximately 8.71% of Toast worth $1,966,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of TOST. Ameritas Advisory Services LLC purchased a new stake in shares of Toast in the second quarter worth approximately $31,000. REAP Financial Group LLC increased its stake in Toast by 173.3% in the second quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after purchasing an additional 506 shares during the period. Motco bought a new stake in shares of Toast during the second quarter worth $44,000. Cullen Frost Bankers Inc. lifted its position in shares of Toast by 1,383.8% during the second quarter. Cullen Frost Bankers Inc. now owns 1,009 shares of the company’s stock worth $45,000 after purchasing an additional 941 shares during the last quarter. Finally, Whipplewood Advisors LLC boosted its stake in shares of Toast by 2,356.1% during the second quarter. Whipplewood Advisors LLC now owns 1,007 shares of the company’s stock valued at $45,000 after purchasing an additional 966 shares during the period. Institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TOST shares. DA Davidson set a $42.00 price target on shares of Toast in a research note on Wednesday, November 5th. Robert W. Baird reduced their target price on shares of Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Jefferies Financial Group decreased their price target on shares of Toast from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. JPMorgan Chase & Co. dropped their price objective on Toast from $52.00 to $43.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Finally, Truist Financial decreased their target price on Toast from $47.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.29.

Insider Buying and Selling

In other Toast news, CRO Jonathan Vassil sold 6,530 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $232,206.80. Following the completion of the transaction, the executive directly owned 69,932 shares in the company, valued at approximately $2,486,781.92. The trade was a 8.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Brian R. Elworthy sold 4,987 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $177,337.72. Following the sale, the general counsel directly owned 227,924 shares of the company’s stock, valued at approximately $8,104,977.44. The trade was a 2.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 49,759 shares of company stock valued at $1,769,270 over the last three months. Corporate insiders own 12.14% of the company’s stock.

Toast Stock Up 4.3%

Shares of NYSE:TOST opened at $33.99 on Friday. The firm has a 50 day moving average of $37.10 and a 200 day moving average of $41.36. The company has a market capitalization of $17.50 billion, a price-to-earnings ratio of 79.05 and a beta of 1.94. Toast, Inc. has a 52 week low of $28.12 and a 52 week 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 the consensus estimate of $0.24 by ($0.08). The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. Toast had a net margin of 4.68% and a return on equity of 15.77%. The firm’s revenue was up 25.1% compared to the same quarter last year. During the same period last year, the business posted $0.07 EPS. On average, sell-side analysts expect that Toast, Inc. will post 0.39 EPS for the current year.

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.