Scientech Research LLC Acquires Shares of 32,104 Toast, Inc. $TOST

Key Points

• Scientech Research LLC acquired 32,104 shares of Toast, Inc., valued at approximately $1,065,000, highlighting growing institutional interest in the company.
• Toast's stock reported a 24.8% year-over-year revenue increase, although its earnings per share of $0.13 fell short of analyst expectations of $0.23.
• JPMorgan Chase & Co. raised its target price for Toast from $42.00 to $52.00, reflecting positive analyst sentiment on the stock.

Scientech Research LLC bought a new position in Toast, Inc. (NYSE:TOST - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 32,104 shares of the company's stock, valued at approximately $1,065,000.

Several other institutional investors have also recently bought and sold shares of TOST. Wayfinding Financial LLC bought a new position in Toast in the 1st quarter worth $34,000. Piscataqua Savings Bank boosted its holdings in Toast by 57.1% in the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after purchasing an additional 400 shares during the period. West Branch Capital LLC boosted its holdings in Toast by 862.1% in the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after purchasing an additional 1,000 shares during the period. SBI Securities Co. Ltd. boosted its holdings in Toast by 29.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after purchasing an additional 284 shares during the period. Finally, Signaturefd LLC boosted its holdings in Toast by 227.1% in the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company's stock valued at $49,000 after purchasing an additional 1,022 shares during the period. Institutional investors own 82.91% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on TOST shares. The Goldman Sachs Group increased their price target on shares of Toast from $45.00 to $51.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Citigroup reissued a "buy" rating on shares of Toast in a report on Wednesday, July 16th. Wells Fargo & Company started coverage on shares of Toast in a report on Wednesday, July 16th. They issued a "buy" rating for the company. Wall Street Zen downgraded shares of Toast from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Toast in a report on Thursday, July 17th. They issued a "buy" rating and a $54.00 price target for the company. Fifteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $45.54.

Toast Stock Performance

Shares of TOST stock traded down $1.08 during mid-day trading on Wednesday, reaching $39.84. The company's stock had a trading volume of 10,767,254 shares, compared to its average volume of 7,454,505. Toast, Inc. has a 1-year low of $23.06 and a 1-year high of $49.66. The company has a market cap of $20.32 billion, a P/E ratio of 117.19 and a beta of 2.00. The firm's 50-day moving average is $44.78 and its two-hundred day moving average is $40.42.

Toast (NYSE:TOST - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The firm's revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 EPS. Sell-side analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Insider Buying and Selling at Toast

In related news, CEO Aman Narang sold 1,719 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $48.38, for a total transaction of $83,165.22. Following the completion of the sale, the chief executive officer owned 304,300 shares in the company, valued at $14,722,034. This trade represents a 0.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Elena Gomez sold 2,006 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $97,050.28. Following the sale, the chief financial officer owned 141,263 shares of the company's stock, valued at $6,834,303.94. This trade represents a 1.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,342 shares of company stock worth $3,804,710 over the last ninety days. Company insiders own 12.14% 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.