9,200 Shares in Toast, Inc. $TOST Acquired by Versor Investments LP

Key Points

• Versor Investments LP has acquired a new position in Toast, Inc. by purchasing 9,200 shares, valued at approximately $305,000.
• Toast, Inc. reported a net margin of 4.07% and a revenue increase of 24.8% year-over-year, despite missing EPS estimates for the last quarter.
• Several brokerages have raised their price targets for Toast, with Canaccord Genuity setting a new target at $54.00 and maintaining a "buy" rating.

Versor Investments LP acquired a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 9,200 shares of the company's stock, valued at approximately $305,000.

Several other large investors have also bought and sold shares of the company. Raymond James Financial Inc. boosted its position in Toast by 3.1% during the 1st quarter. Raymond James Financial Inc. now owns 607,094 shares of the company's stock valued at $20,137,000 after acquiring an additional 18,213 shares in the last quarter. RMR Capital Management LLC bought a new stake in Toast during the 1st quarter valued at approximately $275,000. Cresset Asset Management LLC boosted its position in Toast by 7.5% during the 1st quarter. Cresset Asset Management LLC now owns 61,891 shares of the company's stock valued at $2,053,000 after acquiring an additional 4,298 shares in the last quarter. Ethic Inc. boosted its position in Toast by 137.1% during the 1st quarter. Ethic Inc. now owns 21,719 shares of the company's stock valued at $744,000 after acquiring an additional 12,559 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Toast during the 1st quarter valued at approximately $1,679,000. 82.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TOST has been the subject of a number of analyst reports. Wells Fargo & Company began coverage on shares of Toast in a research note on Wednesday, July 16th. They set a "buy" rating for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Toast in a research note on Thursday, July 17th. They set a "buy" rating and a $54.00 target price for the company. Canaccord Genuity Group raised their target price on shares of Toast from $48.00 to $54.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Keefe, Bruyette & Woods raised their target price on shares of Toast from $47.00 to $50.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Toast from $42.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $45.54.

Toast Stock Performance

Shares of TOST traded up $1.3010 on Friday, hitting $43.9010. 5,377,983 shares of the stock traded hands, compared to its average volume of 8,614,547. The company has a market capitalization of $22.39 billion, a PE ratio of 125.71 and a beta of 2.01. The business has a 50 day simple moving average of $44.76 and a 200 day simple moving average of $40.19. Toast, Inc. has a one year low of $22.91 and a one year high of $49.66.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share 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%. Toast's revenue was up 24.8% on a year-over-year basis. During the same period last year, the business earned $0.02 EPS. On average, equities analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Activity at Toast

In related news, General Counsel Brian R. Elworthy sold 1,051 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $48.38, for a total transaction of $50,847.38. Following the completion of the sale, the general counsel owned 222,868 shares of the company's stock, valued at $10,782,353.84. This trade represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jonathan Vassil sold 1,427 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $48.38, for a total transaction of $69,038.26. Following the sale, the executive directly owned 63,298 shares of the company's stock, valued at $3,062,357.24. This trade represents a 2.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 405,554 shares of company stock valued at $17,333,686 over the last ninety days. Corporate insiders own 12.14% of the company's stock.

Toast 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.