Lecap Asset Management Ltd. Has $941,000 Stake in Toast, Inc. $TOST

Key Points

• Lecap Asset Management Ltd. has reduced its stake in Toast, Inc. by 51.9% during Q2, now holding 21,246 shares valued at $941,000.
• Institutional investors currently own 82.91% of Toast's stock as several funds have either increased or initiated their stakes in the company recently.
• Toast reported a net margin of 4.07% and a revenue increase of 24.8% year-over-year for the last quarter, although it missed earnings expectations.

Lecap Asset Management Ltd. reduced its stake in Toast, Inc. (NYSE:TOST - Free Report) by 51.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 21,246 shares of the company's stock after selling 22,966 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Toast were worth $941,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in Toast in the 1st quarter worth approximately $34,000. Piscataqua Savings Bank lifted its holdings in Toast by 57.1% in 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. West Branch Capital LLC lifted 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 worth $37,000 after purchasing an additional 1,000 shares during the last quarter. SBI Securities Co. Ltd. lifted 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 worth $42,000 after purchasing an additional 284 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in 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. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Toast

In other Toast news, CFO Elena Gomez sold 2,006 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 value of $97,050.28. Following the sale, the chief financial officer directly owned 141,263 shares in the company, valued at $6,834,303.94. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Jonathan Vassil sold 1,427 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 value of $69,038.26. Following the completion of the sale, the executive owned 63,298 shares in the company, valued at $3,062,357.24. This trade represents a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,423 shares of company stock valued at $913,065. 12.14% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TOST has been the subject of several analyst reports. Jefferies Financial Group boosted their target price on Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, July 18th. The Goldman Sachs Group upped their price target on Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Citigroup reiterated a "buy" rating on shares of Toast in a report on Wednesday, July 16th. Wells Fargo & Company began coverage on Toast in a report on Wednesday, July 16th. They set a "buy" rating for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on Toast in a report on Thursday, July 17th. They set a "buy" rating and a $54.00 price target for the company. Fifteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $46.30.

Toast Trading Up 1.4%

TOST opened at $36.09 on Friday. The stock has a market cap of $18.41 billion, a PE ratio of 106.15 and a beta of 1.94. Toast, Inc. has a 1 year low of $26.91 and a 1 year high of $49.66. The stock's 50 day simple moving average is $42.57 and its 200-day simple moving average is $40.76.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data 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). The firm 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 earnings per share. Equities analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Toast 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.

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