Toast, Inc. (NYSE:TOST) Shares Sold by Bradley Foster & Sargent Inc. CT

Bradley Foster & Sargent Inc. CT reduced its position in Toast, Inc. (NYSE:TOST) by 72.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,841 shares of the company’s stock after selling 56,464 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Toast were worth $563,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in shares of Toast in the second quarter valued at about $2,879,000. Menard Financial Group LLC acquired a new stake in Toast in the 2nd quarter valued at about $350,000. Dimensional Fund Advisors LP raised its holdings in Toast by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,161,572 shares of the company’s stock valued at $29,933,000 after acquiring an additional 68,875 shares during the last quarter. Nia Impact Advisors LLC purchased a new position in Toast in the 2nd quarter worth approximately $1,659,000. Finally, J.W. Cole Advisors Inc. acquired a new position in shares of Toast during the 2nd quarter worth approximately $269,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Up 2.5 %

Shares of TOST opened at $26.97 on Friday. The company has a market cap of $12.43 billion, a P/E ratio of -53.94 and a beta of 1.75. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $27.90. The firm’s 50 day moving average price is $25.03 and its 200 day moving average price is $24.56.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The company’s revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) earnings per share. Research analysts forecast that Toast, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TOST has been the subject of several recent research reports. Morgan Stanley increased their price target on Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $26.00 price target on shares of Toast in a report on Wednesday, May 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $27.00 price target on shares of Toast in a research report on Wednesday, August 7th. The Goldman Sachs Group restated a “buy” rating and set a $29.00 price objective on shares of Toast in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.33.

Insider Activity

In related news, CEO Aman Narang sold 6,355 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total transaction of $162,942.20. Following the sale, the chief executive officer now directly owns 1,131,043 shares in the company, valued at $28,999,942.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Toast news, General Counsel Brian R. Elworthy sold 2,573 shares of Toast stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $25.64, for a total transaction of $65,971.72. Following the completion of the sale, the general counsel now directly owns 170,531 shares of the company’s stock, valued at approximately $4,372,414.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aman Narang sold 6,355 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total value of $162,942.20. Following the transaction, the chief executive officer now directly owns 1,131,043 shares of the company’s stock, valued at $28,999,942.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 651,612 shares of company stock worth $16,191,520. 13.32% of the stock is currently owned by company insiders.

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.