62,778 Shares in Toast, Inc. $TOST Acquired by AXQ Capital LP

AXQ Capital LP purchased a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 62,778 shares of the company's stock, valued at approximately $1,746,000.

Other large investors also recently modified their holdings of the company. Arkfeld Wealth Strategies L.L.C. grew its stake in Toast by 138.8% during the 2nd quarter. Arkfeld Wealth Strategies L.L.C. now owns 264,821 shares of the company's stock worth $7,807,000 after buying an additional 153,928 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Toast by 1,925.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 985,653 shares of the company's stock worth $35,001,000 after acquiring an additional 936,987 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Toast by 47.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 970,799 shares of the company's stock worth $27,008,000 after buying an additional 312,077 shares in the last quarter. Lavelle Capital LP purchased a new stake in shares of Toast during the 1st quarter worth $1,458,000. Finally, Geode Capital Management LLC boosted its position in shares of Toast by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company's stock worth $307,214,000 after purchasing an additional 169,230 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Price Performance

Shares of TOST stock opened at $33.94 on Friday. The firm's 50-day simple moving average is $32.41 and its 200-day simple moving average is $28.54. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $42.15. The firm has a market cap of $17.45 billion, a P/E ratio of 43.51 and a beta of 1.72.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). The company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.87 billion. Toast had a net margin of 7.14% and a return on equity of 23.90%. The firm's quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 earnings per share. Analysts expect that Toast, Inc. will post 1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Elena Gomez sold 5,761 shares of the business's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $35.37, for a total transaction of $203,766.57. Following the completion of the sale, the chief financial officer owned 160,150 shares in the company, valued at approximately $5,664,505.50. The trade was a 3.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 119,843 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $35.38, for a total transaction of $4,240,045.34. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 522,533 shares of company stock worth $18,172,786 over the last three months. 10.03% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TOST. Needham & Company LLC increased their price target on shares of Toast from $35.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. BMO Capital Markets upped their target price on shares of Toast from $35.00 to $40.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. BTIG Research reaffirmed a "neutral" rating on shares of Toast in a report on Thursday, August 27th. Weiss Ratings reiterated a "hold (c)" rating on shares of Toast in a research report on Monday, August 17th. Finally, Barclays boosted their price target on Toast from $35.00 to $39.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Sixteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $39.12.

Toast Profile

Toast, Inc NYSE: TOST is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast's product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.

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