Toast, Inc. $TOST is HMI Capital Management L.P.'s 8th Largest Position

Key Points

• HMI Capital Management L.P. increased its stake in Toast, Inc. by 57.7% in Q1, owning over 5.2 million shares, making Toast approximately 9.4% of its investment portfolio.
• Toast reported $1.55 billion in revenue for the recent quarter, surpassing analyst expectations, but missed EPS estimates with $0.13 earnings per share.
• Research analysts have a generally positive outlook on Toast, with 15 analysts rating it as a "Buy" and a consensus target price of around $45.54.

HMI Capital Management L.P. increased its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 57.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,203,183 shares of the company's stock after acquiring an additional 1,904,040 shares during the quarter. Toast makes up approximately 9.4% of HMI Capital Management L.P.'s holdings, making the stock its 8th biggest holding. HMI Capital Management L.P. owned approximately 1.04% of Toast worth $172,590,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Wayfinding Financial LLC acquired a new stake in shares of Toast during the first quarter worth $34,000. Piscataqua Savings Bank lifted its position in Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after buying an additional 400 shares during the period. West Branch Capital LLC boosted its stake in Toast by 862.1% in the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after buying an additional 1,000 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in Toast by 29.2% in the 1st 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 increased its stake in shares of Toast by 227.1% during the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company's stock valued at $49,000 after acquiring an additional 1,022 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Stock Up 0.1%

Shares of NYSE TOST traded up $0.05 on Friday, hitting $41.16. The company had a trading volume of 7,073,236 shares, compared to its average volume of 7,271,626. Toast, Inc. has a 12-month low of $22.91 and a 12-month high of $49.66. The firm has a market capitalization of $20.99 billion, a P/E ratio of 121.06 and a beta of 2.00. The business has a 50 day moving average of $44.89 and a two-hundred day moving average of $40.39.

Toast (NYSE:TOST - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). The company had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The business's quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.02 earnings per share. On average, sell-side analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling at Toast

In other news, Director Paul D. Bell sold 12,500 shares of the company's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $42.38, for a total value of $529,750.00. Following the completion of the transaction, the director directly owned 226,892 shares in the company, valued at approximately $9,615,682.96. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elena Gomez sold 34,170 shares of Toast stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.56, for a total transaction of $1,454,275.20. Following the sale, the chief financial officer directly owned 139,357 shares in the company, valued at $5,931,033.92. This trade represents a 19.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,054 shares of company stock valued at $4,223,686. 12.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup reissued a "buy" rating on shares of Toast in a research report on Wednesday, July 16th. Wells Fargo & Company began coverage on shares of Toast in a report on Wednesday, July 16th. They issued a "buy" rating on the stock. Morgan Stanley boosted their price objective on shares of Toast from $50.00 to $54.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Needham & Company LLC increased their target price on Toast from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group lifted their target price on Toast from $50.00 to $54.00 and gave the company a "buy" rating in a report on Friday, July 18th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $45.54.

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.