Toast, Inc. (NYSE:TOST) Shares Bought by US Bancorp DE

US Bancorp DE lifted its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 23.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,513 shares of the company's stock after acquiring an additional 9,748 shares during the quarter. US Bancorp DE's holdings in Toast were worth $1,709,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Menard Financial Group LLC raised its position in Toast by 11.8% in the first quarter. Menard Financial Group LLC now owns 13,713 shares of the company's stock valued at $483,000 after purchasing an additional 1,450 shares during the period. Bayforest Capital Ltd raised its holdings in shares of Toast by 213.8% during the 1st quarter. Bayforest Capital Ltd now owns 30,116 shares of the company's stock valued at $999,000 after buying an additional 20,518 shares during the period. XTX Topco Ltd acquired a new position in Toast during the 1st quarter worth approximately $2,263,000. Banque Cantonale Vaudoise acquired a new position in Toast during the 1st quarter worth approximately $226,000. Finally, GSA Capital Partners LLP boosted its holdings in Toast by 126.8% in the 1st quarter. GSA Capital Partners LLP now owns 67,188 shares of the company's stock worth $2,229,000 after acquiring an additional 37,568 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 300,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $42.60, for a total value of $12,780,000.00. Following the completion of the transaction, the general counsel owned 216,156 shares in the company, valued at approximately $9,208,245.60. This represents a 58.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Aman Narang sold 13,829 shares of Toast stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $588,977.11. Following the sale, the chief executive officer directly owned 302,498 shares in the company, valued at approximately $12,883,389.82. This trade represents a 4.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 474,054 shares of company stock valued at $20,432,166. Company insiders own 13.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TOST shares. Keefe, Bruyette & Woods lifted their price objective on shares of Toast from $47.00 to $50.00 and gave the company a "market perform" rating in a research note on Wednesday. Piper Sandler raised their price target on shares of Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Barclays reiterated an "overweight" rating on shares of Toast in a report on Wednesday, July 16th. Needham & Company LLC upped their price objective on shares of Toast from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Wolfe Research raised Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 target price on the stock in a research report on Wednesday, April 23rd. Twelve research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $45.54.

Toast Stock Down 0.8%

Shares of TOST stock opened at $45.58 on Friday. The company has a market cap of $22.70 billion, a P/E ratio of 134.05 and a beta of 2.01. The business has a 50 day moving average of $44.67 and a two-hundred day moving average of $39.94. Toast, Inc. has a 52 week low of $22.27 and a 52 week high of $49.66.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results 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 company 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 14.81% and a net margin of 4.07%. The company's revenue for the quarter was up 24.8% on a year-over-year basis. During the same period last year, the business posted $0.02 EPS. Analysts expect that Toast, Inc. will post 0.39 EPS for the current fiscal year.

About Toast

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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