341,186 Shares of Toast, Inc. $TOST Acquired by Trek Financial LLC

Trek Financial LLC acquired a new position in shares of Toast, Inc. (NYSE:TOST) during the third quarter, HoldingsChannel.com reports. The fund acquired 341,186 shares of the company’s stock, valued at approximately $9,891,000.

Several other institutional investors and hedge funds also recently modified their holdings of TOST. Principal Financial Group Inc. raised its holdings in shares of Toast by 36.0% during the 1st quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company’s stock valued at $211,478,000 after buying an additional 2,111,009 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Toast by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,950,962 shares of the company’s stock valued at $201,508,000 after acquiring an additional 89,316 shares in the last quarter. Bank of America Corp DE grew its position in Toast by 10.6% in the first quarter. Bank of America Corp DE now owns 4,866,197 shares of the company’s stock valued at $129,003,000 after acquiring an additional 465,006 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Toast by 25.1% during the first quarter. Renaissance Technologies LLC now owns 4,321,437 shares of the company’s stock valued at $114,561,000 after purchasing an additional 867,509 shares during the period. Finally, Amova Asset Management Americas Inc. raised its stake in shares of Toast by 0.4% during the first quarter. Amova Asset Management Americas Inc. now owns 3,817,961 shares of the company’s stock valued at $101,176,000 after purchasing an additional 16,614 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Trading Up 0.0%

Toast stock opened at $31.69 on Monday. The stock has a market cap of $16.29 billion, a P/E ratio of 40.63 and a beta of 1.74. The stock has a 50 day moving average of $32.06 and a 200-day moving average of $29.40. Toast, Inc. has a 52 week low of $22.26 and a 52 week high of $39.67.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.87 billion. Toast had a return on equity of 23.90% and a net margin of 7.14%. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 EPS. As a group, equities analysts predict that Toast, Inc. will post 1.00 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TOST has been the subject of several analyst reports. Sanford C. Bernstein upped their target price on shares of Toast from $39.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Canaccord Genuity Group set a $40.00 price target on shares of Toast in a research note on Wednesday, August 5th. BTIG Research reiterated a “neutral” rating on shares of Toast in a report on Thursday, August 27th. BMO Capital Markets boosted their price objective on shares of Toast from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Finally, Zacks Research cut shares of Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.11.

Insider Buying and Selling at Toast

In other news, CRO Jonathan Vassil sold 85,280 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $36.34, for a total value of $3,099,075.20. Following the sale, the executive owned 69,966 shares in the company, valued at approximately $2,542,564.44. This represents a 54.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 124,542 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $35.29, for a total transaction of $4,395,087.18. Following the completion of the sale, the chief executive officer owned 175,458 shares in the company, valued at approximately $6,191,912.82. This trade represents a 41.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 520,550 shares of company stock worth $18,096,931 in the last ninety days. 10.03% of the stock is owned by insiders.

Toast Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants. Its integrated system combines point-of-sale software and hardware with payment processing, helping restaurants manage sales, orders, menus, guest interactions and day-to-day operations from a unified platform.

The company offers products and services including online ordering, delivery management, digital ordering and payment tools, restaurant websites, gift cards, loyalty programs, marketing, labor management, payroll, inventory management, reporting and analytics.