Creative Planning Has $718,000 Stake in Toast, Inc. (NYSE:TOST)

Creative Planning trimmed its holdings in shares of Toast, Inc. (NYSE:TOST) by 41.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,432 shares of the company’s stock after selling 17,931 shares during the period. Creative Planning’s holdings in Toast were worth $718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital International Investors increased its stake in shares of Toast by 12.2% in the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after buying an additional 3,574,397 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Toast by 21.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock valued at $486,557,000 after buying an additional 3,445,788 shares during the period. Champlain Investment Partners LLC increased its stake in shares of Toast by 9.1% in the 1st quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock valued at $248,611,000 after buying an additional 833,390 shares during the period. Whale Rock Capital Management LLC acquired a new stake in shares of Toast in the 1st quarter valued at $179,111,000. Finally, Meritage Group LP increased its stake in shares of Toast by 37.3% in the 1st quarter. Meritage Group LP now owns 5,284,811 shares of the company’s stock valued at $131,697,000 after buying an additional 1,436,494 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Toast Price Performance

TOST stock opened at $30.98 on Monday. The stock has a market capitalization of $14.28 billion, a P/E ratio of -106.83 and a beta of 1.74. The business has a 50-day moving average of $27.37 and a 200-day moving average of $25.65. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $31.57.

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 the consensus estimate of ($0.02) by $0.04. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. Toast’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.19) earnings per share. Equities analysts expect that Toast, Inc. will post -0.1 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. DA Davidson raised their price target on Toast from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price target on Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Bank of America raised their price target on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Morgan Stanley raised their price target on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Stephens raised their price target on Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.26.

Insider Transactions at Toast

In related news, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the sale, the president now owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Brian R. Elworthy sold 2,878 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $79,922.06. Following the sale, the general counsel now owns 177,836 shares in the company, valued at approximately $4,938,505.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the sale, the president now owns 2,638,023 shares in the company, valued at $62,178,202.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,370,721 shares of company stock valued at $37,996,988 over the last three months. Company insiders own 13.32% of the company’s stock.

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.