Motley Fool Asset Management LLC Decreases Position in Toast, Inc. $TOST

Motley Fool Asset Management LLC cut its position in Toast, Inc. (NYSE:TOST) by 3.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 314,619 shares of the company’s stock after selling 11,524 shares during the quarter. Toast accounts for approximately 0.6% of Motley Fool Asset Management LLC’s investment portfolio, making the stock its 28th biggest holding. Motley Fool Asset Management LLC’s holdings in Toast were worth $13,934,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TOST. Principal Financial Group Inc. raised its holdings in Toast by 14,258.8% in the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock worth $181,587,000 after buying an additional 5,436,317 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Toast by 17.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock worth $777,978,000 after buying an additional 3,490,686 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in Toast in the first quarter worth about $86,650,000. HMI Capital Management L.P. raised its holdings in Toast by 57.7% in the first quarter. HMI Capital Management L.P. now owns 5,203,183 shares of the company’s stock worth $172,590,000 after buying an additional 1,904,040 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Toast in the first quarter worth about $56,473,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Toast

In other Toast news, CRO Jonathan Vassil sold 6,530 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 transaction 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. This represents a 8.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brian R. Elworthy sold 4,987 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 transaction of $177,337.72. Following the sale, the general counsel directly owned 227,924 shares of the company’s stock, valued at approximately $8,104,977.44. This represents a 2.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,196 shares of company stock valued at $2,398,513 in the last quarter. Insiders own 12.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TOST shares. Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a report on Wednesday, October 8th. Citigroup raised shares of Toast to a “strong-buy” rating in a report on Thursday, October 23rd. Robert W. Baird decreased their price objective on shares of Toast from $48.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Finally, Truist Financial set a $47.00 price objective on shares of Toast in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.17.

Toast Stock Up 1.5%

TOST opened at $38.94 on Tuesday. Toast, Inc. has a twelve month low of $28.12 and a twelve month high of $49.66. The stock has a market capitalization of $19.86 billion, a price-to-earnings ratio of 114.54 and a beta of 1.94. The firm has a 50 day moving average price of $39.63 and a 200-day moving average price of $41.28.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, August 5th. The company reported $0.13 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 period in the prior year, the company posted $0.02 earnings per share. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. As a group, analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

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.