Vanguard Group Inc. Raises Holdings in Toast, Inc. (NYSE:TOST)

Vanguard Group Inc. lifted its stake in Toast, Inc. (NYSE:TOST - Free Report) by 3.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,945,584 shares of the company's stock after buying an additional 1,471,352 shares during the quarter. Vanguard Group Inc. owned about 8.84% of Toast worth $1,457,675,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. iA Global Asset Management Inc. raised its stake in shares of Toast by 24.6% in the first quarter. iA Global Asset Management Inc. now owns 17,866 shares of the company's stock worth $593,000 after buying an additional 3,522 shares during the period. Westfield Capital Management Co. LP bought a new position in Toast in the 1st quarter worth approximately $7,628,000. Blair William & Co. IL boosted its stake in Toast by 2.4% in the 1st quarter. Blair William & Co. IL now owns 1,631,067 shares of the company's stock worth $54,102,000 after purchasing an additional 38,616 shares during the period. Manchester Capital Management LLC boosted its stake in Toast by 97.9% in the 1st quarter. Manchester Capital Management LLC now owns 2,598 shares of the company's stock worth $86,000 after purchasing an additional 1,285 shares during the period. Finally, Bank of Nova Scotia boosted its stake in Toast by 6.0% in the 1st quarter. Bank of Nova Scotia now owns 249,527 shares of the company's stock worth $8,277,000 after purchasing an additional 14,015 shares during the period. Institutional investors own 82.91% of the company's stock.

Insider Activity at Toast

In other Toast news, CEO Aman Narang sold 13,829 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total value of $588,977.11. Following the completion of the sale, the chief executive officer directly owned 302,498 shares in the company, valued at approximately $12,883,389.82. This represents a 4.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $42.60, for a total value of $12,780,000.00. Following the completion of the sale, the general counsel owned 216,156 shares of the company's stock, valued at $9,208,245.60. This represents a 58.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 404,054 shares of company stock worth $17,300,366 over the last quarter. 12.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Piper Sandler upped their price target on Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Needham & Company LLC lifted their price objective on Toast from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group lifted their price objective on Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Wolfe Research raised Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective on the stock in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Toast from $42.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Eleven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Toast has a consensus rating of "Moderate Buy" and an average target price of $45.54.

Toast Stock Up 0.6%

TOST traded up $0.26 during trading hours on Wednesday, reaching $44.33. 10,589,765 shares of the company's stock traded hands, compared to its average volume of 7,359,497. The firm has a 50-day moving average price of $44.74 and a 200 day moving average price of $40.04. Toast, Inc. has a 52-week low of $22.91 and a 52-week high of $49.66. The firm has a market capitalization of $22.61 billion, a PE ratio of 130.38 and a beta of 2.01.

Toast (NYSE:TOST - Get Free Report) last posted 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 analysts' expectations of $1.52 billion. During the same quarter in the previous year, the firm earned $0.02 EPS. Toast's revenue was up 24.8% compared to the same quarter last year. Equities analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal 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.