11,168 Shares in Toast, Inc. $TOST Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC acquired a new position in shares of Toast, Inc. (NYSE:TOST) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,168 shares of the company’s stock, valued at approximately $495,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ethic Inc. lifted its position in Toast by 32.7% during the second quarter. Ethic Inc. now owns 28,820 shares of the company’s stock worth $1,265,000 after buying an additional 7,101 shares in the last quarter. TFB Advisors LLC purchased a new stake in Toast in the second quarter valued at $371,000. Cookson Peirce & Co. Inc. raised its position in Toast by 6.0% in the second quarter. Cookson Peirce & Co. Inc. now owns 264,285 shares of the company’s stock valued at $11,705,000 after purchasing an additional 15,071 shares during the period. Cullen Frost Bankers Inc. raised its position in Toast by 1,383.8% in the second quarter. Cullen Frost Bankers Inc. now owns 1,009 shares of the company’s stock valued at $45,000 after purchasing an additional 941 shares during the period. Finally, Northeast Investment Management raised its position in Toast by 52.3% in the second quarter. Northeast Investment Management now owns 79,690 shares of the company’s stock valued at $3,529,000 after purchasing an additional 27,365 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Trading Down 1.2%

Shares of NYSE TOST opened at $38.32 on Monday. Toast, Inc. has a twelve month low of $28.12 and a twelve month high of $49.66. The stock has a fifty day simple moving average of $39.70 and a 200-day simple moving average of $41.25. The stock has a market capitalization of $19.54 billion, a PE ratio of 112.71 and a beta of 1.94.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). Toast had a return on equity of 14.19% and a net margin of 4.07%.The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the firm earned $0.02 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TOST. Jefferies Financial Group lifted their target price on Toast from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods reduced their target price on Toast from $50.00 to $42.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 1st. Citigroup upgraded Toast to a “strong-buy” rating in a research report on Thursday. Robert W. Baird reduced their target price on Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Finally, Barclays restated an “overweight” rating on shares of Toast in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.17.

Insider Activity

In other news, CRO Jonathan Vassil sold 6,530 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $232,206.80. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Aman Narang sold 13,652 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $485,465.12. Following the sale, the chief executive officer directly owned 318,150 shares of the company’s stock, valued at approximately $11,313,414. This represents a 4.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,196 shares of company stock worth $2,398,513 over the last three months. Company insiders own 12.14% of the company’s stock.

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.