Northeast Investment Management Buys 27,365 Shares of Toast, Inc. $TOST

Key Points

• Northeast Investment Management increased its stake in Toast, Inc. by 52.3%, acquiring an additional 27,365 shares, bringing its total holdings to 79,690 shares valued at approximately $3.53 million.
• Multiple institutional investors have modified their positions in Toast, with 82.91% of the stock currently held by institutional investors.
• Although Toast reported earnings of $0.13 per share for the last quarter, it fell short of analysts' expectations, contributing to a price increase to around $37.54 as of recent trading.

Northeast Investment Management grew its stake in Toast, Inc. (NYSE:TOST - Free Report) by 52.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,690 shares of the company's stock after acquiring an additional 27,365 shares during the quarter. Northeast Investment Management's holdings in Toast were worth $3,529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new stake in shares of Toast in the 2nd quarter valued at about $31,000. Wayfinding Financial LLC bought a new stake in Toast during the 1st quarter worth approximately $34,000. REAP Financial Group LLC increased its stake in Toast by 173.3% during the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company's stock worth $35,000 after purchasing an additional 506 shares in the last quarter. SBI Securities Co. Ltd. increased 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 purchasing an additional 284 shares in the last quarter. Finally, Signaturefd LLC increased 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 purchasing an additional 1,022 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TOST has been the subject of a number of research reports. Canaccord Genuity Group increased their target price on Toast from $48.00 to $54.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Robert W. Baird lowered their target price on Toast from $48.00 to $36.00 and set a "neutral" rating for the company in a research note on Monday, October 6th. DA Davidson increased their target price on Toast from $40.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. The Goldman Sachs Group lowered their target price on Toast from $51.00 to $41.00 and set a "neutral" rating for the company in a research note on Monday, October 13th. Finally, JPMorgan Chase & Co. increased their target price on Toast from $42.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $46.05.

Toast Stock Up 0.4%

NYSE:TOST opened at $37.54 on Friday. Toast, Inc. has a twelve month low of $28.12 and a twelve month high of $49.66. The business has a 50 day moving average price of $40.22 and a two-hundred day moving average price of $40.93. The company has a market cap of $19.15 billion, a P/E ratio of 110.42 and a beta of 1.94.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share 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 analyst estimates of $1.52 billion. During the same period last year, the company earned $0.02 EPS. The company's revenue was up 24.8% compared to the same quarter last year. As a group, analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In other news, CRO Jonathan Vassil sold 6,530 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $232,206.80. Following the completion of the sale, the executive owned 69,932 shares of the company's stock, valued at approximately $2,486,781.92. This represents a 8.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Aman Narang sold 13,652 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $485,465.12. Following the completion of the sale, the chief executive officer directly owned 318,150 shares of the company's stock, valued at approximately $11,313,414. The trade was a 4.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,196 shares of company stock worth $2,398,513. 12.14% of the stock is currently owned by insiders.

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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