Toast, Inc. $TOST Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in Toast, Inc. by 50% in the first quarter, owning 168,061 shares valued at approximately $5.57 million after selling 167,904 shares.
• Toast, Inc. reported $0.13 earnings per share for its latest quarter, missing analysts' estimates of $0.23, but achieved a revenue of $1.55 billion, exceeding expectations.
• Analysts have a consensus rating of "Moderate Buy" for Toast, Inc., with an average target price of $45.54, as some firms have recently increased their price targets.

American Century Companies Inc. decreased its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 50.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 168,061 shares of the company's stock after selling 167,904 shares during the period. American Century Companies Inc.'s holdings in Toast were worth $5,575,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wayfinding Financial LLC bought a new stake in Toast in the first quarter worth $34,000. Piscataqua Savings Bank raised its stake in shares of Toast by 57.1% in the first 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 boosted 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 worth $37,000 after purchasing an additional 1,000 shares during the period. SBI Securities Co. Ltd. grew its holdings in Toast by 29.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after purchasing an additional 284 shares during the last quarter. Finally, Signaturefd LLC raised its position 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 during the period. Hedge funds and other institutional investors own 82.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Jefferies Financial Group boosted their target price on Toast from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, July 18th. BMO Capital Markets boosted their target price on Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Wells Fargo & Company assumed coverage on Toast in a research report on Wednesday, July 16th. They set a "buy" rating for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Toast in a research report on Thursday, July 17th. They set a "buy" rating and a $54.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Toast from $42.00 to $52.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $45.54.

Insider Activity at Toast

In other Toast news, Director Paul D. Bell sold 12,500 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $42.38, for a total transaction of $529,750.00. Following the transaction, the director directly owned 226,892 shares of the company's stock, valued at $9,615,682.96. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Elena Gomez sold 34,170 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.56, for a total value of $1,454,275.20. Following the completion of the sale, the chief financial officer owned 139,357 shares of the company's stock, valued at approximately $5,931,033.92. The trade was a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 405,554 shares of company stock valued at $17,333,686 in the last three months. Company insiders own 12.14% of the company's stock.

Toast Stock Up 0.5%

Shares of Toast stock traded up $0.21 on Friday, reaching $45.16. The stock had a trading volume of 4,185,696 shares, compared to its average volume of 8,269,369. The company has a 50 day moving average price of $44.94 and a 200 day moving average price of $40.32. Toast, Inc. has a 1 year low of $22.91 and a 1 year high of $49.66. The stock has a market capitalization of $23.03 billion, a P/E ratio of 128.86 and a beta of 2.00.

Toast (NYSE:TOST - Get Free Report) last posted 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 company had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.52 billion. Toast had a return on equity of 14.19% and a net margin of 4.07%.The company's quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 EPS. On average, analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

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.