RMR Capital Management LLC Takes Position in Toast, Inc. $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 bought a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,291 shares of the company's stock, valued at approximately $275,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wayfinding Financial LLC bought a new stake in Toast during the first quarter worth about $34,000. Piscataqua Savings Bank raised its stake in Toast by 57.1% in the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after buying an additional 400 shares during the period. West Branch Capital LLC raised its stake in Toast by 862.1% in the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after buying an additional 1,000 shares during the period. SBI Securities Co. Ltd. raised its stake in Toast by 29.2% in the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after buying an additional 284 shares during the period. Finally, Signaturefd LLC raised its stake in Toast by 227.1% in the first quarter. Signaturefd LLC now owns 1,472 shares of the company's stock valued at $49,000 after buying an additional 1,022 shares during the period. Institutional investors own 82.91% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TOST. JPMorgan Chase & Co. upped their price objective on Toast from $42.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. 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. Citigroup reiterated a "buy" rating on shares of Toast in a research note on Wednesday, July 16th. Morgan Stanley increased their target price on Toast from $50.00 to $54.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Toast in a research note on Thursday, July 17th. They set a "buy" rating and a $54.00 target price on the stock. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Toast currently has a consensus rating of "Moderate Buy" and an average price target of $45.54.

Insider Transactions at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 1,051 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total value of $50,847.38. Following the sale, the general counsel owned 222,868 shares of the company's stock, valued at approximately $10,782,353.84. This trade represents a 0.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 2,006 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $48.38, for a total value of $97,050.28. Following the completion of the sale, the chief financial officer directly owned 141,263 shares in the company, valued at approximately $6,834,303.94. This represents a 1.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 393,054 shares of company stock worth $16,803,936. 12.14% of the stock is owned by insiders.

Toast Price Performance

NYSE:TOST traded down $0.2310 during trading hours on Thursday, reaching $42.1790. 2,843,642 shares of the company were exchanged, compared to its average volume of 7,314,776. The company has a market capitalization of $21.51 billion, a P/E ratio of 124.10 and a beta of 2.01. Toast, Inc. has a 1-year low of $22.91 and a 1-year high of $49.66. The business has a 50 day moving average of $44.71 and a 200 day moving average of $40.16.

Toast (NYSE:TOST - Get Free Report) last issued 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). The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. Toast had a return on equity of 14.19% and a net margin of 4.07%.The company's quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 EPS. As a group, equities research analysts anticipate 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.