Wellington Management Group LLP Grows Stake in Toast, Inc. $TOST

Key Points

• Wellington Management Group LLP increased its position in Toast, Inc. by 102.6%, owning 37,469 shares valued at approximately $1.24 million after purchasing additional shares in Q1.
• Toast reported a quarterly earnings per share of $0.13, missing the consensus estimate, while its revenue was up 24.8% year-over-year, totaling $1.55 billion.
• Research analysts show a strong sentiment towards Toast, with the stock receiving multiple "buy" ratings and an average price target of $45.54.

Wellington Management Group LLP increased its stake in Toast, Inc. (NYSE:TOST - Free Report) by 102.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,469 shares of the company's stock after acquiring an additional 18,971 shares during the quarter. Wellington Management Group LLP's holdings in Toast were worth $1,243,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wayfinding Financial LLC purchased a new stake in shares of Toast in the first quarter worth $34,000. Piscataqua Savings Bank increased its position 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 buying an additional 400 shares in the last quarter. West Branch Capital LLC grew its holdings 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. boosted its stake in shares of 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 holdings in shares of Toast by 227.1% in the first quarter. Signaturefd LLC now owns 1,472 shares of the company's stock valued at $49,000 after purchasing an additional 1,022 shares during the period. Institutional investors own 82.91% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on TOST shares. Wall Street Zen upgraded Toast from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Barclays reiterated an "overweight" rating on shares of Toast in a research note on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft started coverage on Toast in a research report on Thursday, July 17th. They issued a "buy" rating and a $54.00 price objective for the company. DA Davidson lifted their target price on Toast from $40.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Finally, BMO Capital Markets increased their price objective on Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Fifteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Toast currently has an average rating of "Moderate Buy" and a consensus price target of $45.54.

Insider Activity at Toast

In other news, CEO Aman Narang sold 13,829 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $588,977.11. Following the sale, the chief executive officer directly owned 302,498 shares in the company, valued at $12,883,389.82. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul D. Bell sold 12,500 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $42.38, for a total value of $529,750.00. Following the sale, the director owned 226,892 shares of the company's stock, valued at $9,615,682.96. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 98,054 shares of company stock worth $4,223,686 in the last three months. 12.14% of the stock is currently owned by corporate insiders.

Toast Trading Down 1.1%

NYSE:TOST traded down $0.47 during trading hours on Friday, reaching $40.64. 1,876,514 shares of the company traded hands, compared to its average volume of 7,340,385. 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 $20.73 billion, a P/E ratio of 119.70 and a beta of 2.00. The business's 50-day moving average price is $44.95 and its two-hundred day moving average price is $40.40.

Toast (NYSE:TOST - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.13 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 analysts' expectations of $1.52 billion. Toast had a return on equity of 14.19% and a net margin of 4.07%.Toast's quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 earnings per share. As a group, equities analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

About Toast

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.