LPL Financial LLC Purchases 17,026 Shares of Toast, Inc. (NYSE:TOST)

Key Points

• LPL Financial LLC increased its stake in Toast, Inc. by 14.4%, acquiring an additional 17,026 shares, bringing their total holdings to 135,044 shares worth approximately $4.48 million.
• Toast's stock has a consensus rating of “Moderate Buy” from analysts, with a target price averaging $45.54 based on reports from multiple financial institutions.
• In its latest quarterly earnings report, Toast reported $1.55 billion in revenue, surpassing expectations, but missed earnings per share estimates by $0.10.

LPL Financial LLC lifted its stake in Toast, Inc. (NYSE:TOST - Free Report) by 14.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,044 shares of the company's stock after acquiring an additional 17,026 shares during the period. LPL Financial LLC's holdings in Toast were worth $4,479,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new position in shares of Toast in the 1st quarter worth $34,000. Piscataqua Savings Bank grew its stake in 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 buying an additional 400 shares during the last quarter. West Branch Capital LLC grew its stake in 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 buying an additional 1,000 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in 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 buying an additional 284 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Toast by 227.1% during the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company's stock worth $49,000 after buying an additional 1,022 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TOST has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Toast in a research note on Thursday, July 17th. They set a "buy" rating and a $54.00 target price on the stock. 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. Wall Street Zen upgraded Toast from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. 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, Citigroup reiterated a "buy" rating on shares of Toast in a research note on Wednesday, July 16th. Eleven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Toast has a consensus rating of "Moderate Buy" and a consensus target price of $45.54.

Toast Price Performance

TOST stock opened at $42.97 on Friday. The business has a 50 day simple moving average of $44.79 and a 200-day simple moving average of $40.10. The firm has a market capitalization of $21.92 billion, a PE ratio of 126.39 and a beta of 2.01. Toast, Inc. has a 1 year low of $22.91 and a 1 year high of $49.66.

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

Insider Buying and Selling at Toast

In other news, General Counsel Brian R. Elworthy sold 300,000 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $42.60, for a total transaction of $12,780,000.00. Following the completion of the transaction, the general counsel directly owned 216,156 shares in the company, valued at $9,208,245.60. This trade represents a 58.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard Kent Bennett sold 9,712 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $43.14, for a total value of $418,975.68. Following the transaction, the director owned 534,167 shares of the company's stock, valued at approximately $23,043,964.38. This represents a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 393,054 shares of company stock valued at $16,803,936. Corporate insiders own 12.14% of the company's stock.

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.

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