Harbour Capital Advisors LLC Makes New $289,000 Investment in Toast, Inc. $TOST

Key Points

• Harbour Capital Advisors LLC acquired a new position in Toast, Inc. by purchasing 6,800 shares valued at approximately $289,000.
• Many other large investors have increased their holdings in Toast, with Assenagon Asset Management boosting their stake by 216.9%, now owning over 556,000 shares.
• Toast reported a net margin of 4.07% with revenue of $1.55 billion for the last quarter, showing a year-over-year revenue increase of 24.8%.

Harbour Capital Advisors LLC bought a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,800 shares of the company's stock, valued at approximately $289,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Toast by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company's stock valued at $1,457,675,000 after buying an additional 1,471,352 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Toast by 17.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company's stock valued at $777,978,000 after buying an additional 3,490,686 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Toast by 7.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company's stock valued at $514,811,000 after buying an additional 1,082,958 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Toast by 2.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,755,872 shares of the company's stock valued at $190,922,000 after buying an additional 160,088 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Toast by 14,258.8% in the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock valued at $181,587,000 after buying an additional 5,436,317 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CRO Jonathan Vassil sold 6,592 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total transaction of $280,753.28. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Aman Narang sold 13,829 shares of the company's stock in a transaction 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 in the company, valued at approximately $12,883,389.82. The trade was a 4.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,342 shares of company stock valued at $3,804,710. Corporate insiders own 12.14% of the company's stock.

Toast Trading Down 2.7%

Toast stock traded down $1.04 during mid-day trading on Tuesday, hitting $37.88. The company had a trading volume of 6,063,645 shares, compared to its average volume of 7,532,384. The stock's 50 day moving average price is $44.14 and its two-hundred 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 company has a market capitalization of $19.32 billion, a PE ratio of 111.55 and a beta of 2.00.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Robert W. Baird set a $48.00 price target on Toast in a research report on Monday. Truist Financial upped their price objective on Toast from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Keefe, Bruyette & Woods upped 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. JPMorgan Chase & Co. upped their price objective on Toast from $42.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, The Goldman Sachs Group upped their price objective on Toast from $45.00 to $51.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Toast presently has an average rating of "Moderate Buy" and a consensus target price of $46.65.

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.