Bosman Wealth Management LLC Acquires New Position in Toast, Inc. $TOST

Key Points

• Bosman Wealth Management LLC acquired a new position in Toast, Inc. by purchasing 54,455 shares valued at approximately $2.41 million, making it the 20th biggest position in their portfolio.
• Several hedge funds have significantly increased their holdings, with Principal Financial Group Inc. raising its stake by 14,258.8%, now owning 5,474,443 shares worth $181.59 million.
• Analysts have given Toast a consensus rating of "Moderate Buy" with a price target around $46.65, indicating positive market sentiment towards the stock's future performance.

Bosman Wealth Management LLC acquired a new stake in Toast, Inc. (NYSE:TOST - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 54,455 shares of the company's stock, valued at approximately $2,412,000. Toast comprises approximately 2.1% of Bosman Wealth Management LLC's holdings, making the stock its 20th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TOST. Principal Financial Group Inc. increased its holdings in Toast by 14,258.8% in the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock valued at $181,587,000 after buying an additional 5,436,317 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Toast by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company's stock valued at $777,978,000 after purchasing an additional 3,490,686 shares during the last quarter. 1832 Asset Management L.P. bought a new position in shares of Toast during the first quarter valued at approximately $86,650,000. HMI Capital Management L.P. grew its holdings in shares of Toast by 57.7% during the first quarter. HMI Capital Management L.P. now owns 5,203,183 shares of the company's stock valued at $172,590,000 after purchasing an additional 1,904,040 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Toast during the first quarter valued at approximately $56,473,000. 82.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Toast from $42.00 to $52.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Jefferies Financial Group upped their target price on Toast from $50.00 to $54.00 and gave the company a "buy" rating in a report on Friday, July 18th. Barclays reaffirmed an "overweight" rating on shares of Toast in a report on Wednesday, July 16th. Wells Fargo & Company assumed coverage on Toast in a report on Wednesday, July 16th. They set a "buy" rating for the company. Finally, Robert W. Baird set a $48.00 target price on Toast in a report on Monday, September 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $46.65.

Toast Trading Down 0.2%

Shares of NYSE TOST opened at $37.14 on Tuesday. The stock has a 50 day simple moving average of $43.27 and a 200-day simple moving average of $40.81. The company has a market cap of $18.94 billion, a PE ratio of 109.24 and a beta of 2.00. Toast, Inc. has a 12-month low of $26.91 and a 12-month high of $49.66.

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

Insider Transactions at Toast

In other Toast news, CFO Elena Gomez sold 2,006 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $48.38, for a total value of $97,050.28. Following the completion of the sale, the chief financial officer directly owned 141,263 shares in the company, valued at $6,834,303.94. This represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Aman Narang sold 1,719 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $48.38, for a total value of $83,165.22. Following the completion of the sale, the chief executive officer owned 304,300 shares of the company's stock, valued at $14,722,034. This trade represents a 0.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,342 shares of company stock valued at $3,804,710 over the last three months. 12.14% of the stock is owned by company insiders.

Toast Company 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.

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