Counterpoint Mutual Funds LLC Takes Position in Toast, Inc. $TOST

Key Points

• Counterpoint Mutual Funds LLC acquired a new stake in Toast, Inc. by purchasing 16,816 shares valued at approximately $745,000 during the 2nd quarter.
• Toast's most recent earnings report showed earnings per share of $0.13, missing analysts' expectations by $0.10, but revenue increased by 24.8% year-over-year to $1.55 billion.
• Analysts have set a consensus rating of "Moderate Buy" for Toast, Inc., with an average price target of $46.65, suggesting optimism in the company's growth potential.

Counterpoint Mutual Funds LLC purchased a new stake in Toast, Inc. (NYSE:TOST - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 16,816 shares of the company's stock, valued at approximately $745,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of Toast by 7.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,139 shares of the company's stock valued at $183,000 after purchasing an additional 278 shares during the last quarter. SBI Securities Co. Ltd. increased 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 during the last quarter. Stonekeep Investments LLC increased its stake in shares of Toast by 4.0% in the 1st quarter. Stonekeep Investments LLC now owns 7,791 shares of the company's stock valued at $258,000 after purchasing an additional 297 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Toast by 7.3% in the 1st quarter. Advisors Asset Management Inc. now owns 4,439 shares of the company's stock valued at $147,000 after purchasing an additional 301 shares during the last quarter. Finally, Garde Capital Inc. increased its stake in shares of Toast by 9.6% in the 2nd quarter. Garde Capital Inc. now owns 4,179 shares of the company's stock valued at $185,000 after purchasing an additional 367 shares during the last quarter. Institutional investors own 82.91% of the company's stock.

Toast Trading Down 5.3%

Shares of NYSE:TOST opened at $38.94 on Tuesday. The stock's 50-day moving average price is $44.14 and its 200-day moving average price is $40.69. Toast, Inc. has a 12-month low of $26.75 and a 12-month high of $49.66. The stock has a market capitalization of $19.86 billion, a P/E ratio of 114.53 and a beta of 2.00.

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

Insider Activity at Toast

In other news, President Stephen Fredette sold 1,720 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $48.38, for a total transaction of $83,213.60. Following the completion of the sale, the president directly owned 890,818 shares in the company, valued at approximately $43,097,774.84. This represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Aman Narang sold 1,719 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $83,165.22. Following the sale, the chief executive officer owned 304,300 shares of the company's stock, valued at approximately $14,722,034. This 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 in the last quarter. 12.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TOST has been the topic of several recent research reports. Jefferies Financial Group raised their price objective on Toast from $50.00 to $54.00 and gave the company a "buy" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods boosted their price objective on Toast from $47.00 to $50.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Robert W. Baird set a $48.00 price objective on Toast in a research note on Monday. DA Davidson boosted their target price on Toast from $40.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Finally, The Goldman Sachs Group boosted their target price on Toast from $45.00 to $51.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Toast presently has a consensus rating of "Moderate Buy" and an average price target of $46.65.

Toast 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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