Intech Investment Management LLC Acquires 347,576 Shares of Toast, Inc. $TOST

Key Points

• Intech Investment Management LLC significantly increased its stake in Toast, Inc. by 547.7% during Q1, now owning 411,041 shares valued at approximately $13.6 million.
• Multiple analysts have raised their target prices for Toast shares, with estimates ranging from $46 to $54, while the stock maintains a consensus rating of "Moderate Buy."
• Toast, Inc. recently reported a quarterly revenue of $1.55 billion, showing a year-over-year increase of 24.8%, though it missed EPS expectations by $0.10.

Intech Investment Management LLC raised its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 547.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 411,041 shares of the company's stock after buying an additional 347,576 shares during the quarter. Intech Investment Management LLC owned 0.08% of Toast worth $13,634,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new stake in Toast in the 1st quarter valued at $34,000. Piscataqua Savings Bank increased its holdings in 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 buying an additional 400 shares during the period. West Branch Capital LLC increased its holdings in 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 buying an additional 1,000 shares during the period. SBI Securities Co. Ltd. increased 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 period. Finally, Signaturefd LLC grew its holdings in shares of Toast by 227.1% in the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company's stock worth $49,000 after purchasing an additional 1,022 shares during the last quarter. Institutional investors own 82.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TOST. DA Davidson upped their target price on shares of Toast from $40.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Canaccord Genuity Group upped their target price on shares of Toast from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. The Goldman Sachs Group upped their target price on shares of Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Barclays reaffirmed an "overweight" rating on shares of Toast in a report on Wednesday, July 16th. Finally, Jefferies Financial Group upped their target price on shares of Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Fifteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $45.54.

Toast Stock Down 2.6%

Shares of NYSE TOST opened at $39.84 on Thursday. The firm's 50-day simple moving average is $44.72 and its 200 day simple moving average is $40.41. The company has a market cap of $20.32 billion, a price-to-earnings ratio of 117.19 and a beta of 2.00. Toast, Inc. has a 12-month low of $23.06 and a 12-month high of $49.66.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings results 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). The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. Toast had a return on equity of 14.19% and a net margin of 4.07%.The firm's quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the company earned $0.02 EPS. On average, equities analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 7,647 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $325,685.73. Following the transaction, the president directly owned 889,017 shares in the company, valued at approximately $37,863,234.03. This represents a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul D. Bell sold 12,500 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $42.38, for a total transaction of $529,750.00. Following the transaction, the director owned 226,892 shares in the company, valued at approximately $9,615,682.96. The trade was a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,342 shares of company stock worth $3,804,710 over the last quarter. Corporate insiders own 12.14% of the company's stock.

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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