Citigroup Inc. Boosts Holdings in Toast, Inc. (NYSE:TOST)

Citigroup Inc. raised its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 231.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 610,891 shares of the company's stock after purchasing an additional 426,784 shares during the period. Citigroup Inc. owned 0.12% of Toast worth $20,263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TOST. Wayfinding Financial LLC purchased a new position in shares of Toast in the first quarter worth about $34,000. Piscataqua Savings Bank lifted its stake in shares of Toast by 57.1% in the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after buying an additional 400 shares in the last quarter. West Branch Capital LLC lifted its stake in shares of Toast by 862.1% in the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after buying an additional 1,000 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Toast by 29.2% in the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock worth $42,000 after buying an additional 284 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Toast by 227.1% in the first quarter. Signaturefd LLC now owns 1,472 shares of the company's stock worth $49,000 after buying an additional 1,022 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Performance

TOST opened at $44.33 on Thursday. The firm has a 50 day moving average price of $44.79 and a 200 day moving average price of $40.07. The company has a market cap of $22.61 billion, a PE ratio of 130.38 and a beta of 2.01. Toast, Inc. has a 1 year low of $22.91 and a 1 year high of $49.66.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Toast in a research report on Thursday, July 17th. They set a "buy" rating and a $54.00 price objective for the company. Barclays restated an "overweight" rating on shares of Toast in a research report on Wednesday, July 16th. Wolfe Research upgraded shares of Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price target for the company in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company started coverage on shares of Toast in a research report on Wednesday, July 16th. They set a "buy" rating for the company. Eleven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $45.54.

Insider Buying and Selling

In other news, CFO Elena Gomez sold 2,006 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $48.38, for a total transaction of $97,050.28. Following the completion of the sale, the chief financial officer owned 141,263 shares of the company's stock, valued at approximately $6,834,303.94. This trade represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 1,720 shares of Toast stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $83,213.60. Following the completion of the transaction, the president directly owned 890,818 shares of the company's stock, valued at approximately $43,097,774.84. This represents a 0.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 393,054 shares of company stock valued at $16,803,936 over the last three months. Company insiders own 12.14% of the company's stock.

About Toast

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.