50,604 Shares in Toast, Inc. $TOST Purchased by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. invested approximately $1.68 million in Toast, Inc. by purchasing 50,604 shares in the 1st quarter of the year.
• Toast's recent quarterly earnings revealed $1.55 billion in revenue, outperforming analyst estimates, but the company missed EPS expectations, reporting $0.13 per share instead of the anticipated $0.23.
• Analysts have a positive outlook on Toast, with several firms raising price targets, including Needham & Company increasing their target from $50.00 to $60.00 and JPMorgan Chase setting a target of $52.00.

Fox Run Management L.L.C. bought a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 50,604 shares of the company's stock, valued at approximately $1,679,000.

Several other institutional investors have also recently bought and sold shares of TOST. SBI Securities Co. Ltd. raised its holdings in 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 buying an additional 284 shares during the last quarter. Stonekeep Investments LLC raised its holdings in 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 buying an additional 297 shares during the last quarter. Keel Point LLC raised its holdings in Toast by 2.7% in the 4th quarter. Keel Point LLC now owns 12,269 shares of the company's stock valued at $447,000 after buying an additional 326 shares during the last quarter. Piscataqua Savings Bank raised its holdings in Toast by 57.1% during the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after purchasing an additional 400 shares during the last quarter. Finally, Legacy Advisors LLC raised its holdings in Toast by 1.7% during the 1st quarter. Legacy Advisors LLC now owns 26,318 shares of the company's stock worth $873,000 after purchasing an additional 438 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Toast Stock Down 1.6%

TOST stock traded down $0.68 during midday trading on Monday, reaching $42.47. 8,260,034 shares of the company's stock traded hands, compared to its average volume of 7,338,230. The company has a market cap of $21.66 billion, a price-to-earnings ratio of 124.91 and a beta of 2.01. The firm's fifty day moving average price is $44.77 and its 200-day moving average price is $40.12. Toast, Inc. has a 52 week low of $22.91 and a 52 week high of $49.66.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly 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). The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The business's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 EPS. Analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on TOST shares. JPMorgan Chase & Co. raised their price target on shares of Toast from $42.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. The Goldman Sachs Group raised their price target on shares of Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. 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 report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Toast from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Wells Fargo & Company started coverage on shares of Toast in a report on Wednesday, July 16th. They set a "buy" rating for the company. Eleven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $45.54.

Insider Activity

In other Toast news, CEO Aman Narang sold 13,829 shares of Toast stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elena Gomez sold 34,170 shares of Toast stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.56, for a total transaction of $1,454,275.20. Following the transaction, the chief financial officer directly owned 139,357 shares in the company, valued at $5,931,033.92. This represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 393,054 shares of company stock worth $16,803,936. Company insiders own 12.14% of the company's stock.

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.