Toast, Inc. (NYSE:TOST) Holdings Raised by Commerce Bank

Key Points

• Commerce Bank has increased its stake in Toast, Inc. by 14.2%, now owning approximately 0.20% of the company, which is valued at $32.5 million.
• Insider trading activity includes CEO Aman Narang selling 13,829 shares and General Counsel Brian R. Elworthy selling 300,000 shares, contributing to a total insider sale of 466,131 shares worth over $20 million in the past three months.
• Twelve analysts have rated Toast with a hold rating while fifteen have rated it a buy, resulting in a consensus price target of $43.42 and an average rating of "Moderate Buy".

Commerce Bank boosted its position in Toast, Inc. (NYSE:TOST - Free Report) by 14.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 980,424 shares of the company's stock after buying an additional 121,584 shares during the quarter. Commerce Bank owned 0.20% of Toast worth $32,521,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Toast

In related news, CRO Jonathan Vassil sold 6,592 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $280,753.28. Following the completion of the sale, the executive directly owned 61,791 shares of the company's stock, valued at $2,631,678.69. This represents a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Brian R. Elworthy sold 5,681 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $241,953.79. Following the sale, the general counsel directly owned 221,767 shares of the company's stock, valued at approximately $9,445,056.53. This represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 466,131 shares of company stock valued at $20,048,851. Corporate insiders own 13.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Evercore ISI assumed coverage on shares of Toast in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 target price on the stock. Morgan Stanley upped their target price on shares of Toast from $50.00 to $54.00 and gave the company an "overweight" rating in a research note on Wednesday. Truist Financial upped their target price on shares of Toast from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Piper Sandler upped their target price on shares of Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Toast in a research note on Thursday, July 17th. They set a "buy" rating and a $54.00 price objective on the stock. Twelve investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.13.

Toast Price Performance

Shares of Toast stock traded down $1.52 on Wednesday, hitting $46.19. The company had a trading volume of 17,714,090 shares, compared to its average volume of 7,283,418. The business has a 50-day simple moving average of $44.52 and a 200-day simple moving average of $39.85. The company has a market cap of $23.00 billion, a PE ratio of 200.96 and a beta of 2.01. Toast, Inc. has a 52 week low of $22.10 and a 52 week high of $49.66.

Toast (NYSE:TOST - Get Free Report) last posted 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). Toast had a net margin of 3.04% and a return on equity of 11.01%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the business earned $0.02 earnings per share. The company's revenue was up 24.8% on a year-over-year basis. On average, equities research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

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.