Toast, Inc. (NYSE:TOST) Stock Holdings Increased by 1832 Asset Management L.P.

1832 Asset Management L.P. raised its holdings in shares of Toast, Inc. (NYSE:TOST) by 335.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 607,800 shares of the company’s stock after buying an additional 468,300 shares during the period. 1832 Asset Management L.P. owned about 0.13% of Toast worth $15,663,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. West Branch Capital LLC bought a new stake in shares of Toast during the 2nd quarter worth $26,000. LRI Investments LLC purchased a new stake in shares of Toast during the first quarter valued at $27,000. Principal Securities Inc. acquired a new position in shares of Toast in the 4th quarter valued at $30,000. Cape Investment Advisory Inc. purchased a new position in Toast in the 4th quarter worth about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Toast during the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Buying and Selling

In other Toast news, President Stephen Fredette sold 101,574 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $25.73, for a total transaction of $2,613,499.02. Following the transaction, the president now owns 2,395,685 shares in the company, valued at $61,640,975.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Aman Narang sold 6,355 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total transaction of $162,942.20. Following the completion of the sale, the chief executive officer now owns 1,131,043 shares in the company, valued at approximately $28,999,942.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Stephen Fredette sold 101,574 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $25.73, for a total value of $2,613,499.02. Following the completion of the sale, the president now directly owns 2,395,685 shares in the company, valued at approximately $61,640,975.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 652,412 shares of company stock worth $16,213,120. 13.32% of the stock is currently owned by insiders.

Toast Stock Down 0.2 %

Shares of TOST opened at $27.65 on Tuesday. The firm has a market cap of $12.53 billion, a price-to-earnings ratio of -55.30 and a beta of 1.75. The company’s fifty day moving average is $25.12 and its 200-day moving average is $24.60. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $28.19.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TOST shares. Bank of America lifted their target price on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Wedbush raised shares of Toast to a “strong-buy” rating in a research note on Friday, September 6th. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and increased their target price for the company from $21.00 to $33.00 in a report on Thursday, July 18th. Morgan Stanley lifted 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. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $27.00 price objective on shares of Toast in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $28.33.

Toast Profile

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.