Jump Financial LLC Has $32.81 Million Stock Position in Toast, Inc. $TOST

Key Points

• Jump Financial LLC significantly increased its stake in Toast, Inc. by 186.6%, now owning 989,049 shares valued at approximately $32.81 million.
• Institutional investors control 82.91% of Toast's stock, with notable increases from several firms, including Principal Financial Group, which raised its holdings by an astounding 14,258.8%.
• Analysts are optimistic about Toast's growth, with several firms raising their price targets—Jefferies Financial Group now rates it as a "buy" with a target of $54.00.

Jump Financial LLC grew its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 186.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 989,049 shares of the company's stock after purchasing an additional 643,993 shares during the quarter. Jump Financial LLC owned about 0.20% of Toast worth $32,807,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Procyon Advisors LLC acquired a new position in shares of Toast during the 1st quarter worth approximately $242,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Toast by 19.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company's stock worth $829,000 after acquiring an additional 3,713 shares during the last quarter. Yorktown Management & Research Co Inc acquired a new position in shares of Toast during the 1st quarter worth approximately $252,000. Principal Financial Group Inc. increased its holdings in shares of Toast by 14,258.8% during the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock worth $181,587,000 after acquiring an additional 5,436,317 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Toast by 5.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,092,210 shares of the company's stock worth $102,569,000 after acquiring an additional 153,723 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Piper Sandler boosted their target price on Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Jefferies Financial Group boosted their price target on Toast from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Friday, July 18th. The Goldman Sachs Group boosted their price target on Toast from $45.00 to $51.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. BMO Capital Markets boosted their price target on Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Finally, Wall Street Zen upgraded Toast from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Fifteen investment 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.com, the company currently has an average rating of "Moderate Buy" and an average price target of $45.54.

Toast Stock Performance

TOST opened at $43.9010 on Friday. The firm has a market cap of $22.39 billion, a P/E ratio of 129.12 and a beta of 2.01. Toast, Inc. has a 52-week low of $22.91 and a 52-week high of $49.66. The business's fifty day moving average is $44.76 and its 200-day moving average is $40.21.

Toast (NYSE:TOST - Get Free Report) last released its 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 business's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the company posted $0.02 earnings per share. On average, research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Activity at Toast

In related news, CRO Jonathan Vassil sold 1,427 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $48.38, for a total value of $69,038.26. Following the sale, the executive directly owned 63,298 shares of the company's stock, valued at $3,062,357.24. This trade represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul D. Bell sold 12,500 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $42.38, for a total value of $529,750.00. Following the completion of the sale, the director directly owned 226,892 shares in the company, valued at $9,615,682.96. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 405,554 shares of company stock worth $17,333,686 in the last quarter. 12.14% of the stock is currently owned by corporate insiders.

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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