Andra AP fonden Sells 252,600 Shares of Toast, Inc. $TOST

Key Points

• Andra AP fonden cut its Toast stake by 63.3%, selling 252,600 shares in the second quarter and retaining 146,667 shares valued at approximately $4.08 million. Institutional investors collectively own 82.91% of the stock.
• Toast reported quarterly revenue of $1.91 billion, up 23.1% year over year and above expectations, but earnings per share of $0.26 missed estimates of $0.32.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $39.12, while insiders sold 522,533 shares worth approximately $18.2 million over the past three months.

Andra AP fonden reduced its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 63.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 146,667 shares of the company's stock after selling 252,600 shares during the quarter. Andra AP fonden's holdings in Toast were worth $4,080,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Talon Private Wealth LLC purchased a new stake in Toast in the second quarter worth about $837,000. Junto Capital Management LP purchased a new position in Toast during the 2nd quarter valued at about $54,320,000. Tidal Investments LLC increased its position in Toast by 31.9% during the 2nd quarter. Tidal Investments LLC now owns 18,071 shares of the company's stock valued at $503,000 after purchasing an additional 4,372 shares during the period. Scholtz & Company LLC bought a new stake in shares of Toast in the 2nd quarter valued at about $2,321,000. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of Toast by 454.2% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 51,196 shares of the company's stock valued at $1,424,000 after purchasing an additional 41,959 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Toast Trading Up 0.5%

NYSE TOST opened at $29.80 on Thursday. The firm's fifty day simple moving average is $33.03 and its two-hundred day simple moving average is $28.90. Toast, Inc. has a 12-month low of $22.26 and a 12-month high of $39.72. The firm has a market capitalization of $15.31 billion, a P/E ratio of 38.20 and a beta of 1.72.

Toast (NYSE:TOST - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $1.87 billion. Toast had a return on equity of 23.90% and a net margin of 7.14%.The business's revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the business earned $0.13 EPS. As a group, sell-side analysts predict that Toast, Inc. will post 1 earnings per share for the current fiscal year.

Insider Transactions at Toast

In related news, CEO Aman Narang sold 124,542 shares of Toast stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $35.29, for a total transaction of $4,395,087.18. Following the completion of the sale, the chief executive officer owned 175,458 shares of the company's stock, valued at $6,191,912.82. The trade was a 41.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Vassil sold 85,280 shares of the company's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $36.34, for a total value of $3,099,075.20. Following the completion of the sale, the executive owned 69,966 shares in the company, valued at approximately $2,542,564.44. This represents a 54.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 522,533 shares of company stock worth $18,172,786 over the last three months. 10.03% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TOST. Robert W. Baird lifted their price objective on shares of Toast from $30.00 to $33.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Piper Sandler upped their target price on Toast from $32.00 to $39.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. DA Davidson increased their target price on Toast from $30.00 to $34.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. BMO Capital Markets lifted their price target on Toast from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Finally, UBS Group boosted their price target on Toast from $34.00 to $39.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Sixteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $39.12.

About Toast

Toast, Inc NYSE: TOST provides a cloud-based technology platform designed for restaurants and other food-service businesses. Its platform combines point-of-sale hardware and software with tools for order management, payments, menu management, reporting and business operations.

The company also offers products and services that support employee management, payroll, inventory, scheduling, online ordering, delivery, gift cards, loyalty programs and guest engagement. Toast's integrated approach is intended to help restaurants manage front-of-house and back-of-house activities through a single platform.

Toast was founded in 2011 and is headquartered in Boston, Massachusetts.

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