Toast, Inc. $TOST Stock Purchased by Arkfeld Wealth Strategies L.L.C.

Key Points

• Arkfeld Wealth Strategies increased its Toast stake by 38.2% in the third quarter, purchasing 101,226 additional shares to reach 366,047 shares valued at approximately $11.18 million.
• Institutional investors own 82.91% of Toast, while analysts maintain a “Moderate Buy” consensus with an average price target of $39.11.
• Toast shares recently traded at $31.55, with the company reporting 23.1% year-over-year revenue growth but missing quarterly earnings expectations; insiders have also sold $18.57 million in shares over the past three months, primarily for tax obligations.

Arkfeld Wealth Strategies L.L.C. grew its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 38.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 366,047 shares of the company's stock after purchasing an additional 101,226 shares during the period. Toast makes up 2.9% of Arkfeld Wealth Strategies L.L.C.'s investment portfolio, making the stock its 10th largest holding. Arkfeld Wealth Strategies L.L.C. owned approximately 0.07% of Toast worth $11,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Principal Financial Group Inc. raised its stake in Toast by 36.0% in the first quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company's stock worth $211,478,000 after buying an additional 2,111,009 shares in the last quarter. Bank of America Corp DE boosted its position 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 acquiring an additional 465,006 shares in the last quarter. Renaissance Technologies LLC boosted its position in Toast by 25.1% during the 1st quarter. Renaissance Technologies LLC now owns 4,321,437 shares of the company's stock valued at $114,561,000 after acquiring an additional 867,509 shares in the last quarter. Amova Asset Management Americas Inc. boosted its position in Toast by 0.4% during the 1st quarter. Amova Asset Management Americas Inc. now owns 3,817,961 shares of the company's stock valued at $101,176,000 after acquiring an additional 16,614 shares in the last quarter. Finally, Amundi grew its holdings in shares of Toast by 24.5% during the 1st quarter. Amundi now owns 3,329,206 shares of the company's stock worth $88,257,000 after acquiring an additional 655,717 shares during the period. Institutional investors own 82.91% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Robert W. Baird increased their target price on Toast from $30.00 to $33.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. BTIG Research restated a "neutral" rating on shares of Toast in a research report on Thursday, August 27th. UBS Group upped their price target on Toast from $34.00 to $39.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Royal Bank Of Canada upped their price target on Toast from $36.00 to $44.00 and gave the stock a "sector perform" rating in a research note on Monday, August 31st. Finally, BNP Paribas Exane downgraded Toast from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $38.00 to $35.00 in a report on Wednesday, September 2nd. Seventeen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, Toast presently has an average rating of "Moderate Buy" and an average price target of $39.11.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 9,368 shares of Toast stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $29.35, for a total value of $274,950.80. Following the sale, the president directly owned 941,692 shares in the company, valued at approximately $27,638,660.20. The trade was a 0.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Brian Elworthy sold 6,507 shares of the business's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $29.35, for a total value of $190,980.45. Following the completion of the sale, the general counsel owned 204,023 shares in the company, valued at $5,988,075.05. This represents a 3.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 534,830 shares of company stock worth $18,566,600 in the last three months. Corporate insiders own 10.03% of the company's stock.

Toast Stock Performance

Shares of NYSE:TOST traded down $0.07 during trading on Monday, reaching $31.55. 1,459,535 shares of the stock traded hands, compared to its average volume of 10,952,259. The stock has a 50-day moving average of $32.59 and a two-hundred day moving average of $29.23. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $39.72. The stock has a market cap of $16.22 billion, a P/E ratio of 40.50 and a beta of 1.74.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.06). The business had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.87 billion. Toast had a net margin of 7.14% and a return on equity of 23.90%. The company's quarterly revenue was up 23.1% on a year-over-year basis. During the same period last year, the business earned $0.13 earnings per share. Sell-side analysts expect that Toast, Inc. will post 1.00 earnings per share for the current year.

Toast Company Profile

Toast, Inc NYSE: TOST provides a cloud-based technology platform designed for restaurants. Its integrated system combines point-of-sale software and hardware with payment processing, helping restaurants manage sales, orders, menus, guest interactions and day-to-day operations from a unified platform.

The company offers products and services including online ordering, delivery management, digital ordering and payment tools, restaurant websites, gift cards, loyalty programs, marketing, labor management, payroll, inventory management, reporting and analytics.

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