Toast, Inc. (NYSE:TOST) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its holdings in shares of Toast, Inc. (NYSE:TOST) by 15.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 79,765 shares of the company’s stock after purchasing an additional 10,601 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Toast were worth $2,056,000 as of its most recent SEC filing.

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

Insider Activity at Toast

In other news, CEO Aman Narang sold 6,355 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 1,131,043 shares of the company’s stock, valued at approximately $28,999,942.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Aman Narang sold 6,355 shares of the firm’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 sale, the chief executive officer now directly owns 1,131,043 shares of the company’s stock, valued at $28,999,942.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Brian R. Elworthy sold 2,573 shares of the 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 transaction, the general counsel now directly owns 170,531 shares of the company’s stock, valued at approximately $4,372,414.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 368,352 shares of company stock worth $9,381,482. Company insiders own 13.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Toast from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $30.00 price objective on shares of Toast in a research report on Thursday, May 30th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective on shares of Toast in a research report on Wednesday. Canaccord Genuity Group increased their price objective on shares of Toast from $22.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, Robert W. Baird cut Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price target for the company. in a research note on Tuesday, May 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Toast presently has an average rating of “Hold” and a consensus price target of $27.85.

Toast Price Performance

TOST traded down $1.34 during trading on Wednesday, hitting $22.85. The stock had a trading volume of 14,159,120 shares, compared to its average volume of 7,895,095. Toast, Inc. has a one year low of $13.77 and a one year high of $27.90. The firm has a market cap of $10.35 billion, a price-to-earnings ratio of -45.86 and a beta of 1.76. The company has a 50 day moving average price of $24.76 and a 200-day moving average price of $23.53.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the firm earned ($0.19) earnings per share. Toast’s revenue for the quarter was up 27.0% compared to the same quarter last year. As a group, sell-side analysts predict that Toast, Inc. will post -0.14 EPS for the current fiscal 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.