Motley Fool Wealth Management LLC Has $14.32 Million Position in Toast, Inc. (NYSE:TOST)

Key Points

• Motley Fool Wealth Management LLC reduced its stake in Toast, Inc. by 7.7%, selling 36,181 shares and retaining 431,770 shares valued at approximately $14.32 million.
• Insider transactions saw CRO Jonathan Vassil and General Counsel Brian R. Elworthy sell shares, diminishing their ownership by 2.20% and 0.47% respectively, with insiders collectively selling 474,054 shares valued at over $20 million last quarter.
• Toast's shares have a 52-week range between $22.91 and $49.66, with an average analyst rating of "Moderate Buy" and a consensus price target of $45.54.

Motley Fool Wealth Management LLC lowered its position in Toast, Inc. (NYSE:TOST - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 431,770 shares of the company's stock after selling 36,181 shares during the period. Motley Fool Wealth Management LLC owned approximately 0.09% of Toast worth $14,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. lifted its position in Toast by 14,258.8% during the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock valued at $181,587,000 after purchasing an additional 5,436,317 shares during the period. Voloridge Investment Management LLC raised its position in shares of Toast by 898.8% in the fourth quarter. Voloridge Investment Management LLC now owns 2,858,720 shares of the company's stock worth $104,200,000 after acquiring an additional 2,572,503 shares during the period. Two Sigma Investments LP raised its position in shares of Toast by 914.4% during the 4th quarter. Two Sigma Investments LP now owns 2,846,200 shares of the company's stock worth $103,744,000 after purchasing an additional 2,565,634 shares during the last quarter. Two Sigma Advisers LP acquired a new position in shares of Toast during the 4th quarter worth about $87,188,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Toast during the 4th quarter worth about $83,684,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Performance

Shares of Toast stock traded up $0.26 during trading hours on Wednesday, reaching $44.33. The company's stock had a trading volume of 10,589,765 shares, compared to its average volume of 9,312,319. The company's 50 day simple moving average is $44.79 and its 200 day simple moving average is $40.07. Toast, Inc. has a one year low of $22.91 and a one year high of $49.66. The stock has a market cap of $22.61 billion, a P/E ratio of 130.38 and a beta of 2.01.

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). Toast had a return on equity of 14.19% and a net margin of 4.07%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the business posted $0.02 earnings per share. The company's quarterly revenue was up 24.8% compared to the same quarter last year. On average, sell-side analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TOST has been the subject of several research reports. Truist Financial upped their price objective on shares of Toast from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Piper Sandler raised their price target on shares of Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. raised their price target on shares of Toast from $42.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Citigroup reaffirmed a "buy" 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 company a "buy" rating in a report on Friday, July 18th. Eleven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.54.

Insider Buying and Selling

In other Toast news, CFO Elena Gomez sold 34,170 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.56, for a total value of $1,454,275.20. Following the completion of the transaction, the chief financial officer directly owned 139,357 shares in the company, valued at $5,931,033.92. This trade represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Aman Narang sold 13,829 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total transaction of $588,977.11. Following the completion of the transaction, the chief executive officer owned 302,498 shares of the company's stock, valued at approximately $12,883,389.82. The trade was a 4.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 404,054 shares of company stock worth $17,300,366. 12.14% of the stock is owned by insiders.

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.