341,186 Shares in Toast, Inc. $TOST Bought by Trek Financial LLC

Key Points

• Trek Financial LLC acquired 341,186 Toast shares worth approximately $9.9 million, while institutional investors collectively owned 82.91% of the company.
• Toast shares opened at $31.69, compared with a consensus analyst price target of $39.11. Analysts’ overall rating is “Moderate Buy,” with 17 Buy ratings and 11 Holds.
• The company’s latest quarter showed revenue growth of 23.1% year over year to $1.91 billion, though adjusted EPS of $0.26 missed the $0.32 consensus estimate. Insiders have sold about $18.1 million of stock over the past 90 days.

Trek Financial LLC acquired a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 341,186 shares of the company's stock, valued at approximately $9,891,000. Trek Financial LLC owned 0.07% of Toast at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Toast by 39.6% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 13,199 shares of the company's stock worth $388,000 after purchasing an additional 3,742 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Toast by 1.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,950,962 shares of the company's stock worth $201,508,000 after buying an additional 89,316 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Toast during the third quarter worth about $32,000. Aviance Capital Partners LLC grew its position in Toast by 9.7% during the third quarter. Aviance Capital Partners LLC now owns 25,343 shares of the company's stock worth $735,000 after buying an additional 2,235 shares during the period. Finally, Profund Advisors LLC increased its holdings in Toast by 5.3% in the third quarter. Profund Advisors LLC now owns 11,226 shares of the company's stock valued at $325,000 after buying an additional 568 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Toast Price Performance

Shares of NYSE TOST opened at $31.69 on Monday. The company has a 50-day simple moving average of $32.06 and a 200-day simple moving average of $29.40. The company has a market cap of $16.29 billion, a PE ratio of 40.63 and a beta of 1.74. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $39.67.

Toast (NYSE:TOST - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.06). The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.87 billion. Toast had a return on equity of 23.90% and a net margin of 7.14%. The firm's revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. On average, analysts anticipate that Toast, Inc. will post 1.00 EPS for the current year.

Insider Buying and Selling at Toast

In related news, CEO Aman Narang sold 14,713 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $29.35, for a total transaction of $431,826.55. Following the transaction, the chief executive officer directly owned 86,543 shares in the company, valued at approximately $2,540,037.05. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Jonathan Vassil sold 7,623 shares of Toast stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $30.19, for a total value of $230,138.37. Following the completion of the sale, the executive owned 77,424 shares of the company's stock, valued at $2,337,430.56. This trade represents a 8.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 520,550 shares of company stock valued at $18,096,931. 10.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TOST shares. Sanford C. Bernstein boosted their price target on Toast from $39.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. DA Davidson lifted their price objective on Toast from $30.00 to $34.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Royal Bank Of Canada boosted their target price on Toast from $36.00 to $44.00 and gave the stock a "sector perform" rating in a research report on Monday, August 31st. Keefe, Bruyette & Woods raised their price target on Toast from $30.00 to $35.00 and gave the company a "market perform" rating in a research report on Wednesday, August 5th. Finally, Oppenheimer lifted their price target on Toast from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, Toast presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.11.

About Toast

Toast, Inc NYSE: TOST provides a cloud-based technology platform designed for restaurants. Its integrated system combines point-of-sale software and hardware with payment processing, helping restaurants manage sales, orders, menus, guest interactions and day-to-day operations from a unified platform.

The company offers products and services including online ordering, delivery management, digital ordering and payment tools, restaurant websites, gift cards, loyalty programs, marketing, labor management, payroll, inventory management, reporting and analytics.

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