Toast, Inc. $TOST Shares Purchased by Integrated Wealth Concepts LLC

Key Points

• Integrated Wealth Concepts LLC increased its Toast stake by 454.2% in the second quarter, ending with 51,196 shares valued at approximately $1.42 million. Institutional investors collectively own 82.91% of Toast.
• Toast insiders sold 522,533 shares worth about $18.17 million over the past 90 days, including sales by CEO Aman Narang and CRO Jonathan Vassil under pre-arranged Rule 10b5-1 plans.
• Toast reported quarterly revenue of $1.91 billion, up 23.1% year over year, but earnings per share of $0.26 fell short of the $0.32 analyst estimate. Analysts maintain a “Moderate Buy” consensus with an average price target of $39.12, compared with a recent share price of $31.11.

Integrated Wealth Concepts LLC boosted its stake in Toast, Inc. (NYSE:TOST - Free Report) by 454.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,196 shares of the company's stock after acquiring an additional 41,959 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Toast were worth $1,424,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TOST. Geode Capital Management LLC raised its stake in shares of Toast by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company's stock valued at $307,214,000 after purchasing an additional 169,230 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Toast by 36.0% in the first quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company's stock valued at $211,478,000 after purchasing an additional 2,111,009 shares during the period. Norges Bank acquired a new stake in Toast during the 4th quarter valued at $202,808,000. Bank of America Corp DE grew its holdings in Toast by 10.6% during the 1st quarter. Bank of America Corp DE now owns 4,866,197 shares of the company's stock valued at $129,003,000 after purchasing an additional 465,006 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Toast by 5.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,579,046 shares of the company's stock worth $162,602,000 after buying an additional 235,572 shares during the period. Hedge funds and other institutional investors own 82.91% of the company's stock.

Insider Activity at Toast

In related news, CEO Aman Narang sold 119,843 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $35.38, for a total transaction of $4,240,045.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Vassil sold 14,280 shares of Toast stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $33.90, for a total transaction of $484,092.00. Following the completion of the transaction, the executive directly owned 69,966 shares of the company's stock, valued at approximately $2,371,847.40. This represents a 16.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 522,533 shares of company stock valued at $18,172,786. Corporate insiders own 10.03% of the company's stock.

Toast Stock Down 2.3%

Shares of Toast stock opened at $31.11 on Thursday. The firm has a market cap of $15.99 billion, a P/E ratio of 39.89 and a beta of 1.72. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $42.15. The business has a 50-day moving average price of $33.01 and a 200 day moving average price of $28.86.

Toast (NYSE:TOST - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.06). The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.87 billion. Toast had a return on equity of 23.90% and a net margin of 7.14%.The company's quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 EPS. As a group, equities research analysts anticipate that Toast, Inc. will post 1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TOST shares. Truist Financial boosted their price objective on shares of Toast from $33.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Oppenheimer raised their target price on Toast from $36.00 to $38.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Evercore reaffirmed an "outperform" rating on shares of Toast in a research report on Wednesday, August 5th. Jefferies Financial Group set a $40.00 price target on Toast in a research note on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods increased their price target on Toast from $30.00 to $35.00 and gave the company a "market perform" rating in a report on Wednesday, August 5th. Sixteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, Toast has an average rating of "Moderate Buy" and a consensus target price of $39.12.

About Toast

Toast, Inc NYSE: TOST provides a cloud-based technology platform designed for restaurants and other food-service businesses. Its platform combines point-of-sale hardware and software with tools for order management, payments, menu management, reporting and business operations.

The company also offers products and services that support employee management, payroll, inventory, scheduling, online ordering, delivery, gift cards, loyalty programs and guest engagement. Toast's integrated approach is intended to help restaurants manage front-of-house and back-of-house activities through a single platform.

Toast was founded in 2011 and is headquartered in Boston, Massachusetts.

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