Junto Capital Management LP Acquires New Position in Toast, Inc. $TOST

Key Points

• Junto Capital Management LP made a new investment of approximately $19.18 million in Toast, Inc., acquiring 578,260 shares, which represents about 0.12% of the company.
• Institutional investors currently own 82.91% of Toast's stock, with several firms, including Baird Financial Group and Vident Advisory, increasing their stakes significantly in the first quarter.
• Toast's stock has been rated favorably by analysts, with multiple price target increases, resulting in an average target of $45.54 and a "Moderate Buy" consensus rating.

Junto Capital Management LP purchased a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 578,260 shares of the company's stock, valued at approximately $19,181,000. Junto Capital Management LP owned 0.12% of Toast at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new stake in shares of Toast in the 1st quarter valued at about $34,000. Piscataqua Savings Bank raised its stake in shares of 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 acquiring an additional 400 shares in the last quarter. West Branch Capital LLC raised its stake in shares of Toast by 862.1% during the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after acquiring an additional 1,000 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Toast by 29.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock worth $42,000 after acquiring an additional 284 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Toast by 227.1% during the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company's stock worth $49,000 after acquiring an additional 1,022 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Toast Stock Performance

NYSE TOST traded down $1.22 during mid-day trading on Wednesday, reaching $42.57. 15,355,708 shares of the stock were exchanged, compared to its average volume of 7,352,807. The business's 50 day moving average is $44.95 and its 200-day moving average is $40.38. Toast, Inc. has a 1 year low of $22.91 and a 1 year high of $49.66. The company has a market capitalization of $21.71 billion, a P/E ratio of 125.21 and a beta of 2.00.

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

Insider Activity

In other Toast news, CFO Elena Gomez sold 2,006 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $48.38, for a total transaction of $97,050.28. Following the completion of the transaction, the chief financial officer directly owned 141,263 shares in the company, valued at approximately $6,834,303.94. This represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Stephen Fredette sold 1,720 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $83,213.60. Following the transaction, the president owned 890,818 shares of the company's stock, valued at $43,097,774.84. This represents a 0.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 105,554 shares of company stock valued at $4,553,686 in the last three months. Corporate insiders own 12.14% of the company's stock.

Wall Street Analysts Forecast Growth

TOST has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Toast from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Jefferies Financial Group boosted their price objective on shares of Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods boosted their price objective on shares of Toast from $47.00 to $50.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. Truist Financial boosted their price objective on shares of Toast from $48.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Canaccord Genuity Group boosted their price objective on shares of Toast from $48.00 to $54.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, Toast presently has an average rating of "Moderate Buy" and an average target price of $45.54.

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.