Udine Wealth Management Inc. Takes $1.28 Million Position in Toast, Inc. $TOST

Key Points

• Udine Wealth Management Inc. has acquired a new stake in Toast, Inc. worth approximately $1.28 million, buying 28,901 shares of the company.
• CEO Aman Narang sold 13,652 shares of Toast stock for over $485,000, reducing his ownership by 4.11% to 318,150 shares valued at about $11.31 million.
• Toast's stock is currently trading down by 5.0%, with a market cap of $17.87 billion and a year-over-year revenue increase of 24.8%.

Udine Wealth Management Inc. bought a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 28,901 shares of the company's stock, valued at approximately $1,280,000.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Toast by 3.5% during the first quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company's stock valued at $1,457,675,000 after purchasing an additional 1,471,352 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Toast by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company's stock valued at $777,978,000 after purchasing an additional 3,490,686 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Toast by 7.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company's stock valued at $514,811,000 after purchasing an additional 1,082,958 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Toast by 2.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,755,872 shares of the company's stock valued at $190,922,000 after purchasing an additional 160,088 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Toast by 14,258.8% during the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock valued at $181,587,000 after purchasing an additional 5,436,317 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Aman Narang sold 13,652 shares of the business's stock in a transaction on Thursday, October 2nd. The shares were 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 of the company's stock, valued at $11,313,414. The trade was a 4.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Jonathan Vassil sold 6,530 shares of the business's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $232,206.80. Following the sale, the executive directly owned 69,932 shares of the company's stock, valued at approximately $2,486,781.92. The trade was a 8.54% 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 worth $2,398,513. Company insiders own 12.14% of the company's stock.

Toast Trading Down 5.0%

NYSE:TOST opened at $35.04 on Friday. Toast, Inc. has a 12 month low of $27.65 and a 12 month high of $49.66. The company has a market cap of $17.87 billion, a PE ratio of 103.04 and a beta of 1.94. The company has a 50 day simple moving average of $41.14 and a two-hundred day simple moving average of $40.84.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TOST shares. Truist Financial lifted their target price on shares of Toast from $48.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Morgan Stanley boosted their price objective on shares of Toast from $50.00 to $54.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. The Goldman Sachs Group boosted their price objective on shares of Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Jefferies Financial Group boosted their price objective on shares of Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Toast from $50.00 to $42.00 and set a "market perform" rating for the company in a report on Wednesday, October 1st. Fifteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $45.78.

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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