Total Wealth Planning & Management Inc. Invests $814,000 in Toast, Inc. $TOST

Key Points

• Total Wealth Planning & Management Inc. invested approximately $814,000 in Toast, Inc. by acquiring 18,388 shares in the second quarter, indicating a growing interest from institutional investors in the company.
• Multiple brokerages have raised their target prices for Toast, Inc., with DA Davidson setting a new target of $46.00 and Deutsche Bank giving a $54.00 target price, reflecting positive sentiment in the stock's outlook.
• CEO Aman Narang and General Counsel Brian R. Elworthy both sold shares of Toast, resulting in an ownership decrease, with insiders collectively selling 62,196 shares valued at about $2.4 million in the past 90 days.

Total Wealth Planning & Management Inc. acquired a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,388 shares of the company's stock, valued at approximately $814,000.

A number of other hedge funds also recently made changes to their positions in TOST. Ameritas Advisory Services LLC bought a new position in shares of Toast during the second quarter worth about $31,000. Wayfinding Financial LLC bought a new position in shares of Toast during the first quarter worth about $34,000. REAP Financial Group LLC raised its position in shares of Toast by 173.3% during the second quarter. REAP Financial Group LLC now owns 798 shares of the company's stock worth $35,000 after acquiring an additional 506 shares during the last quarter. West Branch Capital LLC raised its position in shares of Toast by 862.1% during the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after acquiring an additional 1,000 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its position in shares of Toast by 29.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock worth $42,000 after acquiring an additional 284 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Aman Narang sold 13,652 shares of the company's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $485,465.12. Following the completion of the sale, the chief executive officer owned 318,150 shares in the company, valued at approximately $11,313,414. This represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Brian R. Elworthy sold 4,987 shares of the company's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $177,337.72. Following the sale, the general counsel owned 227,924 shares of the company's stock, valued at $8,104,977.44. This trade represents a 2.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,196 shares of company stock valued at $2,398,513. Corporate insiders own 12.14% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TOST. DA Davidson lifted their target price on Toast from $40.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft began coverage on Toast in a report on Thursday, July 17th. They issued a "buy" rating and a $54.00 target price for the company. Wells Fargo & Company began coverage on Toast in a report on Wednesday, July 16th. They issued a "buy" rating for the company. Morgan Stanley lifted their target price on Toast from $50.00 to $54.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Finally, Barclays reiterated an "overweight" rating on shares of Toast in a report on Wednesday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have given 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 $45.78.

Toast Stock Up 0.5%

NYSE TOST opened at $36.87 on Friday. The company has a market cap of $18.80 billion, a price-to-earnings ratio of 108.44 and a beta of 1.94. Toast, Inc. has a 52 week low of $27.65 and a 52 week high of $49.66. The business has a 50 day moving average price of $41.37 and a 200-day moving average price of $40.81.

Toast (NYSE:TOST - Get Free Report) last released 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 firm had revenue of $1.55 billion for 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 company's revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.02 EPS. On average, equities research analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current 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.

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