7,802 Shares in Toast, Inc. (NYSE:TOST) Purchased by SP Asset Management LLC

SP Asset Management LLC acquired a new stake in Toast, Inc. (NYSE:TOST) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,802 shares of the company’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in Toast by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after acquiring an additional 1,598,248 shares during the period. Capital International Investors increased its stake in shares of Toast by 12.2% during the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after purchasing an additional 3,574,397 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Toast by 21.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after purchasing an additional 3,445,788 shares during the last quarter. Abdiel Capital Advisors LP lifted its stake in Toast by 0.3% in the 4th quarter. Abdiel Capital Advisors LP now owns 10,913,464 shares of the company’s stock valued at $199,280,000 after buying an additional 37,091 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its holdings in Toast by 9.1% in the 1st quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock worth $248,611,000 after buying an additional 833,390 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Stock Performance

Shares of Toast stock opened at $23.69 on Wednesday. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $27.90. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of -47.38 and a beta of 1.75. The stock has a 50 day moving average of $24.90 and a 200 day moving average of $24.38.

Toast (NYSE:TOST) last released its quarterly earnings results 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 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%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.19) EPS. Analysts forecast that Toast, Inc. will post -0.1 EPS for the current year.

Insiders Place Their Bets

In other news, CRO Jonathan Vassil sold 1,541 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $36,984.00. Following the sale, the executive now directly owns 33,312 shares of the company’s stock, valued at approximately $799,488. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CRO Jonathan Vassil sold 1,541 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $36,984.00. Following the completion of the transaction, the executive now directly owns 33,312 shares in the company, valued at $799,488. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Aman Narang sold 6,355 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 418,352 shares of company stock valued at $10,526,982 over the last 90 days. 13.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TOST. Robert W. Baird downgraded Toast from an “outperform” rating to a “neutral” rating and set a $28.00 target price on the stock. in a research report on Tuesday, May 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $27.00 target price on shares of Toast in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $26.00 target price on shares of Toast in a research report on Wednesday, May 29th. Bank of America lowered their price target on shares of Toast from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Toast from $25.00 to $28.00 and gave the company 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $28.22.

Toast Company 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.