Voleon Capital Management LP Buys 63,532 Shares of Toast, Inc. $TOST

Key Points

• Voleon Capital Management LP increased its holdings in Toast, Inc. by 28.3% in Q1, owning 287,969 shares, which now represent about 0.7% of its portfolio.
• Toast reported $1.55 billion in revenue for its recent quarter, exceeding analyst estimates of $1.52 billion, but missed earnings per share expectations.
• Most analysts maintain a buy rating on Toast's stock, with a consensus price target of $45.54 per share.

Voleon Capital Management LP raised its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 28.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 287,969 shares of the company's stock after purchasing an additional 63,532 shares during the quarter. Toast accounts for approximately 0.7% of Voleon Capital Management LP's holdings, making the stock its 27th biggest position. Voleon Capital Management LP owned about 0.06% of Toast worth $9,552,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TOST. Wayfinding Financial LLC bought a new stake in shares of Toast during the 1st quarter valued at about $34,000. Piscataqua Savings Bank grew its stake in shares of Toast by 57.1% during the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after acquiring an additional 400 shares during the period. West Branch Capital LLC grew its stake in shares of Toast by 862.1% during the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after acquiring an additional 1,000 shares during the period. SBI Securities Co. Ltd. lifted 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 worth $42,000 after purchasing an additional 284 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in Toast by 227.1% in the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company's stock worth $49,000 after purchasing an additional 1,022 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Toast

In other news, CFO Elena Gomez sold 34,170 shares of the 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 transaction, the chief financial officer owned 139,357 shares of the company's stock, valued at approximately $5,931,033.92. This represents a 19.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Jonathan Vassil sold 6,592 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were 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 in the company, valued at approximately $2,631,678.69. The trade was a 9.64% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,342 shares of company stock worth $3,804,710. Insiders own 12.14% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TOST. Wall Street Zen cut Toast from a "buy" rating to a "hold" rating in a report on Saturday. Barclays restated an "overweight" rating on shares of Toast in a report on Wednesday, July 16th. Truist Financial increased their price target on Toast from $48.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, July 17th. The Goldman Sachs Group increased their price target on Toast from $45.00 to $51.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Finally, Needham & Company LLC increased their price target on Toast from $50.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $45.54.

Toast Stock Performance

Toast stock traded down $1.08 during mid-day trading on Wednesday, hitting $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 50 day moving average of $44.72 and a 200-day moving average of $40.41. The stock has a market cap of $20.32 billion, a PE ratio of 117.19 and a beta of 2.00. Toast, Inc. has a one year low of $23.06 and a one year high of $49.66.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). The business had revenue of $1.55 billion during 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 business's revenue was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $0.02 EPS. On average, equities research analysts forecast that Toast, Inc. will post 0.39 EPS for the current fiscal year.

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.