Retireful LLC Reduces Stock Position in Toast, Inc. $TOST

Key Points

• Retireful LLC has reduced its holdings in Toast, Inc. by 30.2%, selling 9,938 shares during the second quarter, now owning 23,011 shares valued at approximately $1,019,000.
• Insider trading activity includes the CFO Elena Gomez selling 34,170 shares and the CEO Aman Narang selling 13,829 shares, indicating significant movements within the company's leadership.
• Analysts have raised their price targets for Toast, with Truist Financial increasing theirs to $50.00, reflecting a positive outlook amidst a consensus rating of "Moderate Buy" across 15 analysts.

Retireful LLC trimmed its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 30.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,011 shares of the company's stock after selling 9,938 shares during the period. Retireful LLC's holdings in Toast were worth $1,019,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TOST. Ballentine Partners LLC increased its stake in shares of Toast by 13.8% in the second quarter. Ballentine Partners LLC now owns 7,868 shares of the company's stock worth $348,000 after buying an additional 957 shares during the last quarter. Norden Group LLC bought a new stake in shares of Toast in the 2nd quarter worth about $237,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Toast in the 2nd quarter valued at about $745,000. Gries Financial LLC bought a new position in shares of Toast during the second quarter worth about $217,000. Finally, GAMMA Investing LLC lifted its position in shares of Toast by 7.2% during the second quarter. GAMMA Investing LLC now owns 4,139 shares of the company's stock worth $183,000 after purchasing an additional 278 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Toast

In other Toast news, CFO Elena Gomez sold 34,170 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.56, for a total transaction of $1,454,275.20. Following the sale, the chief financial officer directly owned 139,357 shares in the company, valued at approximately $5,931,033.92. The trade was a 19.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aman Narang sold 13,829 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were 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 $12,883,389.82. This trade represents a 4.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 88,342 shares of company stock worth $3,804,710 in the last ninety days. 12.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Truist Financial upped their price objective on Toast from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Toast in a research report on Thursday, July 17th. They set a "buy" rating and a $54.00 price target on the stock. Canaccord Genuity Group lifted their price objective on shares of Toast from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. DA Davidson increased their target price on shares of Toast from $40.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Finally, Citigroup restated a "buy" rating on shares of Toast in a research report on Wednesday, July 16th. Fifteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $46.65.

Toast Stock Down 1.3%

TOST stock opened at $37.48 on Thursday. The stock has a market cap of $19.12 billion, a PE ratio of 110.24 and a beta of 2.00. The firm's 50-day simple moving average is $43.86 and its 200 day simple moving average is $40.65. Toast, Inc. has a fifty-two week low of $26.75 and a fifty-two week high of $49.66.

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

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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