Oppenheimer Asset Management Inc. Increases Stock Position in Toast, Inc. $TOST

Oppenheimer Asset Management Inc. grew its stake in Toast, Inc. (NYSE:TOST) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,554 shares of the company’s stock after buying an additional 811 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Toast were worth $3,523,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in TOST. Vanguard Group Inc. grew its position in Toast by 3.5% in the first quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company’s stock worth $1,457,675,000 after acquiring an additional 1,471,352 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Toast by 17.5% during 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 purchasing an additional 3,490,686 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Toast by 7.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company’s stock worth $514,811,000 after purchasing an additional 1,082,958 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Toast by 14,258.8% in the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock worth $181,587,000 after purchasing an additional 5,436,317 shares in the last quarter. Finally, HMI Capital Management L.P. increased its position in shares of Toast by 57.7% during the 1st quarter. HMI Capital Management L.P. now owns 5,203,183 shares of the company’s stock valued at $172,590,000 after purchasing an additional 1,904,040 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Trading Down 3.7%

TOST stock opened at $37.46 on Wednesday. The stock has a market capitalization of $19.10 billion, a price-to-earnings ratio of 110.16 and a beta of 1.94. The firm’s 50-day moving average price is $39.54 and its two-hundred day moving average price is $41.31. Toast, Inc. has a 12-month low of $28.12 and a 12-month high of $49.66.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share (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 business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the business earned $0.02 earnings per share. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. Equities analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

Insider Activity at Toast

In other Toast news, CRO Jonathan Vassil sold 6,530 shares of the business’s stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Fredette sold 7,550 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $268,478.00. Following the completion of the sale, the president directly owned 898,475 shares of the company’s stock, valued at approximately $31,949,771. This represents a 0.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 62,196 shares of company stock valued at $2,398,513 over the last 90 days. Company insiders own 12.14% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on TOST shares. Truist Financial set a $47.00 target price on Toast in a research report on Friday. Citigroup upgraded shares of Toast to a “strong-buy” rating in a report on Thursday, October 23rd. Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. DA Davidson lifted their target price on shares of Toast from $40.00 to $46.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Toast in a research note on Thursday, July 17th. They issued a “buy” rating and a $54.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Toast currently has a consensus rating of “Moderate Buy” and an average price target of $46.17.

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.