Toast, Inc. $TOST Shares Bought by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp dramatically increased its stake in Toast, Inc. by 12,082.6% during the first quarter, owning approximately 439,670 shares valued at about $14.58 million.
• Toast reported earnings of $0.13 per share, missing estimates, but its revenue of $1.55 billion exceeded analyst expectations and showed a year-over-year increase of 24.8%.
• Institutional investors own 82.91% of Toast, with recent analyst ratings showing a consensus of Moderate Buy and an average price target of $45.54.

Jones Financial Companies Lllp boosted its position in Toast, Inc. (NYSE:TOST - Free Report) by 12,082.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 439,670 shares of the company's stock after purchasing an additional 436,061 shares during the quarter. Jones Financial Companies Lllp owned approximately 0.09% of Toast worth $14,584,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TOST. Principal Financial Group Inc. grew its stake 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 worth $181,587,000 after acquiring an additional 5,436,317 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Toast by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company's stock worth $777,978,000 after acquiring an additional 3,490,686 shares during the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Toast during the first quarter worth about $86,650,000. Voloridge Investment Management LLC grew its stake in shares of Toast by 898.8% during the fourth quarter. Voloridge Investment Management LLC now owns 2,858,720 shares of the company's stock worth $104,200,000 after acquiring an additional 2,572,503 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Toast by 914.4% during the fourth quarter. Two Sigma Investments LP now owns 2,846,200 shares of the company's stock worth $103,744,000 after acquiring an additional 2,565,634 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.

Toast Stock Down 2.6%

Shares of Toast stock traded down $1.08 on Wednesday, reaching $39.84. The company's stock had a trading volume of 10,767,254 shares, compared to its average volume of 7,799,813. The company has a market capitalization of $20.32 billion, a P/E ratio of 117.19 and a beta of 2.00. Toast, Inc. has a 52-week low of $23.06 and a 52-week high of $49.66. The stock has a 50-day moving average price of $44.72 and a 200-day moving average price of $40.41.

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 firm had revenue of $1.55 billion during 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 business's revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 earnings per share. Sell-side analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TOST has been the topic of a number of research analyst reports. Canaccord Genuity Group boosted their price target on Toast from $48.00 to $54.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. DA Davidson increased their price target on shares of Toast from $40.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Truist Financial increased their price target on shares of Toast from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. The Goldman Sachs Group increased their price target on shares of Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Finally, Morgan Stanley increased their price target on shares of Toast from $50.00 to $54.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Fifteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $45.54.

Insider Activity

In related news, CFO Elena Gomez sold 34,170 shares of Toast stock in a transaction that occurred 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 transaction, the chief financial officer owned 139,357 shares in the company, valued at approximately $5,931,033.92. This trade represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Jonathan Vassil sold 6,592 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total value of $280,753.28. Following the sale, the executive directly owned 61,791 shares of the company's stock, valued at approximately $2,631,678.69. This trade represents a 9.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,342 shares of company stock valued at $3,804,710 in the last 90 days. 12.14% of the stock is owned by insiders.

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.