Charles Schwab Investment Management Inc. Raises Stake in Toast, Inc. (NYSE:TOST)

Charles Schwab Investment Management Inc. lifted its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 5.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,092,210 shares of the company's stock after acquiring an additional 153,723 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.62% of Toast worth $102,569,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Procyon Advisors LLC bought a new stake in shares of Toast during the 1st quarter worth $242,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Toast by 19.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company's stock worth $829,000 after acquiring an additional 3,713 shares during the last quarter. Yorktown Management & Research Co Inc bought a new stake in shares of Toast during the 1st quarter worth $252,000. Principal Financial Group Inc. lifted its holdings in shares of Toast by 14,258.8% during the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock worth $181,587,000 after acquiring an additional 5,436,317 shares during the last quarter. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of Toast during the 1st quarter worth $757,000. 82.91% of the stock is owned by institutional investors.

Insider Activity

In other news, General Counsel Brian R. Elworthy sold 1,051 shares of Toast 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 sale, the general counsel owned 222,868 shares of the company's stock, valued at approximately $10,782,353.84. The trade was a 0.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Stephen Fredette sold 1,720 shares of Toast stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $48.38, for a total transaction of $83,213.60. Following the sale, the president directly owned 890,818 shares in the company, valued at $43,097,774.84. The trade was a 0.19% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 393,054 shares of company stock worth $16,803,936. 12.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. BMO Capital Markets lifted their target price on shares of Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Canaccord Genuity Group lifted their target price 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. Piper Sandler lifted their target price on shares of Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Wall Street Zen upgraded shares of Toast from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company assumed coverage on shares of Toast in a research report on Wednesday, July 16th. They issued a "buy" rating on the stock. Eleven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $45.54.

Toast Stock Down 3.1%

Shares of TOST traded down $1.36 during trading hours on Thursday, reaching $42.97. 5,876,159 shares of the company traded hands, compared to its average volume of 9,542,764. The company's fifty day moving average price is $44.79 and its two-hundred day moving average price is $40.10. The company has a market capitalization of $21.92 billion, a price-to-earnings ratio of 126.66 and a beta of 2.01. Toast, Inc. has a 12 month low of $22.91 and a 12 month high of $49.66.

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

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.