Seamount Financial Group Inc. bought a new position in Toast, Inc. (NYSE:TOST - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,858 shares of the company's stock, valued at approximately $348,000.
Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of Toast by 14,258.8% during the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock valued at $181,587,000 after acquiring an additional 5,436,317 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Toast by 17.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company's stock valued at $777,978,000 after acquiring an additional 3,490,686 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in Toast in the first quarter worth about $86,650,000. HMI Capital Management L.P. lifted its holdings in shares of Toast by 57.7% during the first quarter. HMI Capital Management L.P. now owns 5,203,183 shares of the company's stock valued at $172,590,000 after acquiring an additional 1,904,040 shares during the period. Finally, Nuveen LLC bought a new position in Toast in the 1st quarter valued at $56,473,000. Institutional investors and hedge funds own 82.91% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently commented on TOST shares. JPMorgan Chase & Co. lifted their price objective on Toast from $42.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Robert W. Baird reduced their target price on shares of Toast from $48.00 to $36.00 and set a "neutral" rating for the company in a report on Monday. Jefferies Financial Group raised their price objective on Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Barclays reaffirmed an "overweight" rating on shares of Toast in a research note on Wednesday, July 16th. Finally, Morgan Stanley lifted their target price on shares of Toast from $50.00 to $54.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Fifteen research 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $45.78.
Read Our Latest Stock Analysis on TOST
Insider Activity
In related news, 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. This represents a 4.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Jonathan Vassil sold 6,530 shares of the stock in a transaction 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 $2,486,781.92. The trade was a 8.54% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,196 shares of company stock worth $2,398,513. 12.14% of the stock is currently owned by corporate insiders.
Toast Stock Up 0.9%
Shares of TOST opened at $36.98 on Tuesday. Toast, Inc. has a 52 week low of $27.65 and a 52 week high of $49.66. The stock has a market cap of $18.86 billion, a P/E ratio of 108.76 and a beta of 1.94. The business's 50 day moving average price is $42.08 and its 200-day moving average price is $40.86.
Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The business's revenue was up 24.8% compared to the same quarter last year. During the same period last year, the company posted $0.02 earnings per share. On average, equities analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.
Toast Profile
(
Free Report)
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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