RMR Capital Management LLC Invests $275,000 in Toast, Inc. (NYSE:TOST)

Key Points

• RMR Capital Management LLC has invested $275,000 in Toast, Inc. by acquiring 8,291 shares, as reported in their latest filing with the SEC.
• Institutional ownership of Toast is high, with 82.91% of shares held by institutional investors, including significant stakes from Vanguard and Principal Financial Group.
• Analyst sentiment is generally positive, with Toast receiving a consensus rating of "Moderate Buy" and a target price averaging $45.54 after several firms adjusted their price targets upward.

RMR Capital Management LLC acquired a new position in Toast, Inc. (NYSE:TOST - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,291 shares of the company's stock, valued at approximately $275,000.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Toast by 3.5% in the first quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company's stock valued at $1,457,675,000 after buying an additional 1,471,352 shares in the last quarter. Capital International Investors boosted its position in Toast by 1.9% during the fourth quarter. Capital International Investors now owns 41,961,233 shares of the company's stock worth $1,529,657,000 after purchasing an additional 785,641 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in Toast by 2.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,755,872 shares of the company's stock worth $190,922,000 after purchasing an additional 160,088 shares during the period. Principal Financial Group Inc. boosted 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 worth $181,587,000 after purchasing an additional 5,436,317 shares during the period. Finally, Nikko Asset Management Americas Inc. boosted its position in Toast by 3.2% during the first quarter. Nikko Asset Management Americas Inc. now owns 5,002,752 shares of the company's stock worth $165,941,000 after purchasing an additional 155,831 shares during the period. Institutional investors own 82.91% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on TOST. 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 research report on Wednesday, August 6th. DA Davidson boosted their price target on Toast from $40.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. The Goldman Sachs Group upped their target price on Toast from $45.00 to $51.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. increased their target price on Toast from $42.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Toast in a report on Thursday, July 17th. They issued a "buy" rating and a $54.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $45.54.

Insiders Place Their Bets

In other news, General Counsel Brian R. Elworthy sold 300,000 shares of Toast stock in a transaction dated 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 sale, the general counsel owned 216,156 shares in the company, valued at approximately $9,208,245.60. This trade represents a 58.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard Kent Bennett sold 9,712 shares of Toast stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $43.14, for a total value of $418,975.68. Following the sale, the director owned 534,167 shares of the company's stock, valued at approximately $23,043,964.38. This trade represents a 1.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 393,054 shares of company stock worth $16,803,936 over the last quarter. Insiders own 12.14% of the company's stock.

Toast Stock Performance

Shares of TOST opened at $43.11 on Friday. The business has a 50-day moving average of $44.77 and a 200 day moving average of $40.12. Toast, Inc. has a fifty-two week low of $22.91 and a fifty-two week high of $49.66. The firm has a market cap of $21.99 billion, a P/E ratio of 126.79 and a beta of 2.01.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.52 billion. During the same period last year, the business posted $0.02 EPS. The company's revenue was up 24.8% compared to the same quarter last year. As a group, research analysts predict that Toast, Inc. will post 0.39 earnings per share 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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