Yarbrough Capital LLC Trims Holdings in Toast, Inc. $TOST

Key Points

• Yarbrough Capital LLC reduced its holdings in Toast, Inc. by 16.2%, owning 53,796 shares worth $2.38 million after selling 10,419 shares during Q2.
• Toast's CEO, Aman Narang, and CRO Jonathan Vassil both sold shares at an average price of $48.38, decreasing their ownership by 0.56% and 2.20%, respectively.
• Despite a revenue increase of 24.8% year-over-year, Toast reported an earnings miss, with EPS of $0.13 compared to the consensus estimate of $0.23.

Yarbrough Capital LLC lowered its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 16.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,796 shares of the company's stock after selling 10,419 shares during the quarter. Yarbrough Capital LLC's holdings in Toast were worth $2,383,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TOST. Wayfinding Financial LLC purchased a new position in shares of Toast during the 1st quarter valued at $34,000. Piscataqua Savings Bank lifted its position in shares of Toast by 57.1% in the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after acquiring an additional 400 shares in the last quarter. West Branch Capital LLC boosted its stake in shares of Toast by 862.1% in 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 period. SBI Securities Co. Ltd. grew 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 purchasing an additional 284 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Toast by 227.1% during the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company's stock valued at $49,000 after purchasing an additional 1,022 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Toast

In other Toast news, CEO Aman Narang sold 1,719 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $83,165.22. Following the completion of the transaction, the chief executive officer owned 304,300 shares in the company, valued at $14,722,034. The trade was a 0.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Jonathan Vassil sold 1,427 shares of the company'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 value of $69,038.26. Following the transaction, the executive directly owned 63,298 shares in the company, valued at approximately $3,062,357.24. This represents a 2.20% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,342 shares of company stock worth $3,804,710. 12.14% of the stock is currently owned by insiders.

Toast Stock Performance

Shares of Toast stock opened at $37.93 on Wednesday. The stock has a market cap of $19.34 billion, a price-to-earnings ratio of 111.55 and a beta of 2.00. The stock has a 50 day moving average price of $44.01 and a 200-day moving average price of $40.67. Toast, Inc. has a one year low of $26.75 and a one year high of $49.66.

Toast (NYSE:TOST - Get Free Report) last released 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 company had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The business's quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.02 EPS. Sell-side analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on TOST shares. JPMorgan Chase & Co. upped their price target on Toast from $42.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft started 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. Barclays reiterated an "overweight" rating on shares of Toast in a research note on Wednesday, July 16th. Morgan Stanley raised their price objective on Toast from $50.00 to $54.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Finally, Canaccord Genuity Group boosted their target price on Toast from $48.00 to $54.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Fifteen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Toast presently has an average rating of "Moderate Buy" and an average target price of $46.65.

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.

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