Northern Trust Corp Increases Position in Toast, Inc. $TOST

Key Points

• Northern Trust Corp increased its holdings in Toast, Inc. by 3.2%, owning approximately 2.88 million shares valued at about $95.6 million at the end of Q1.
• Toast, Inc. reported $1.55 billion in revenue for the last quarter, a 24.8% increase year-over-year, but missed earnings per share estimates by $0.10.
• Analyst ratings for Toast, Inc. showed a consensus of 15 Buy ratings and 11 Hold ratings, with a target price of around $45.54.

Northern Trust Corp lifted its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,881,962 shares of the company's stock after buying an additional 90,221 shares during the quarter. Northern Trust Corp owned approximately 0.58% of Toast worth $95,595,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new stake in Toast in the first quarter worth $34,000. Piscataqua Savings Bank boosted its stake in shares of Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after purchasing an additional 400 shares during the period. West Branch Capital LLC grew its holdings in shares of Toast by 862.1% in the first 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. increased its stake 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 buying an additional 284 shares during the period. Finally, Signaturefd LLC increased its stake 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 buying an additional 1,022 shares during the period. 82.91% of the stock is owned by institutional investors.

Insider Activity

In other Toast news, CFO Elena Gomez sold 2,006 shares of the stock in a transaction dated 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 sale, the chief financial officer directly owned 141,263 shares of the company's stock, 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 filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 1,051 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $48.38, for a total transaction of $50,847.38. Following the completion of the sale, the general counsel owned 222,868 shares in the company, valued at $10,782,353.84. This represents a 0.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 405,554 shares of company stock worth $17,333,686 over the last ninety days. 12.14% of the stock is currently owned by corporate insiders.

Toast Stock Up 3.1%

Shares of NYSE:TOST opened at $43.9010 on Friday. The company has a market capitalization of $22.39 billion, a price-to-earnings ratio of 129.12 and a beta of 2.01. Toast, Inc. has a 52 week low of $22.91 and a 52 week high of $49.66. The firm has a 50 day moving average of $44.76 and a 200 day moving average of $40.20.

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

Analyst Ratings Changes

A number of equities analysts have commented on TOST shares. Citigroup restated a "buy" rating on shares of Toast in a research note on Wednesday, July 16th. Barclays reaffirmed an "overweight" rating on shares of Toast in a research note on Wednesday, July 16th. The Goldman Sachs Group increased their price objective on Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Truist Financial raised their price objective on Toast from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Piper Sandler lifted their target price on Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $45.54.

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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