Cookson Peirce & Co. Inc. Purchases Shares of 249,214 Toast, Inc. (NYSE:TOST)

Key Points

• Cookson Peirce & Co. Inc. has acquired 249,214 shares of Toast, Inc. valued at approximately $8.3 million, representing a 0.05% ownership stake.
• In the most recent quarter, several large investors have either increased or established new stakes in Toast, with hedge funds owning 82.91% of the company's stock.
• Toast recently reported a net margin of 4.07% and earnings of $0.13 per share, missing analyst expectations while revenue grew by 24.8% year-over-year.

Cookson Peirce & Co. Inc. purchased a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 249,214 shares of the company's stock, valued at approximately $8,266,000. Cookson Peirce & Co. Inc. owned about 0.05% of Toast as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in TOST. Advisory Services Network LLC purchased a new stake in Toast during the 4th quarter valued at about $202,000. Raymond James Financial Inc. purchased a new stake in Toast during the 4th quarter valued at about $21,465,000. Barclays PLC grew its stake in Toast by 103.7% during the 4th quarter. Barclays PLC now owns 630,172 shares of the company's stock valued at $22,969,000 after purchasing an additional 320,746 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Toast during the 4th quarter valued at about $614,000. Finally, Marshall Wace LLP grew its stake in Toast by 22.1% during the 4th quarter. Marshall Wace LLP now owns 3,484,427 shares of the company's stock valued at $127,007,000 after purchasing an additional 629,736 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Insider Buying and Selling at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $42.60, for a total transaction of $12,780,000.00. Following the completion of the transaction, the general counsel owned 216,156 shares of the company's stock, valued at $9,208,245.60. This represents a 58.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Aman Narang sold 13,829 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 value of $588,977.11. Following the transaction, the chief executive officer directly owned 302,498 shares of the company's stock, valued at $12,883,389.82. The trade was a 4.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 393,054 shares of company stock valued at $16,803,936. 12.14% of the stock is owned by insiders.

Toast Price Performance

Shares of Toast stock opened at $44.33 on Thursday. The business has a 50 day simple moving average of $44.79 and a two-hundred day simple moving average of $40.07. Toast, Inc. has a 12 month low of $22.91 and a 12 month high of $49.66. The stock has a market capitalization of $22.61 billion, a P/E ratio of 130.38 and a beta of 2.01.

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

Wall Street Analyst Weigh In

TOST has been the topic of several research analyst reports. DA Davidson boosted their price target on Toast from $40.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Piper Sandler upped their target price on Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Citigroup restated a "buy" rating on shares of Toast in a research note on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft initiated coverage on Toast in a research note on Thursday, July 17th. They issued a "buy" rating and a $54.00 target price on the stock. Finally, BMO Capital Markets upped their target price on Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Eleven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $45.54.

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.

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