Toast, Inc. $TOST Position Reduced by Lee Johnson Capital Management LLC

Lee Johnson Capital Management LLC decreased its position in shares of Toast, Inc. (NYSE:TOST) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,910 shares of the company’s stock after selling 1,621 shares during the period. Toast accounts for about 1.7% of Lee Johnson Capital Management LLC’s investment portfolio, making the stock its 20th largest holding. Lee Johnson Capital Management LLC’s holdings in Toast were worth $5,001,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TOST. Principal Financial Group Inc. increased its holdings in shares of Toast by 14,258.8% in the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock valued at $181,587,000 after buying an additional 5,436,317 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 valued at $777,978,000 after buying an additional 3,490,686 shares in the last quarter. 1832 Asset Management L.P. bought a new position in shares of Toast in the first quarter valued at $86,650,000. HMI Capital Management L.P. increased its holdings in shares of Toast by 57.7% in the first quarter. HMI Capital Management L.P. now owns 5,203,183 shares of the company’s stock valued at $172,590,000 after buying an additional 1,904,040 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Toast in the first quarter valued at $56,473,000. Institutional investors own 82.91% of the company’s stock.

Toast Stock Down 0.2%

Toast stock opened at $37.14 on Tuesday. The company’s fifty day simple moving average is $43.27 and its 200-day simple moving average is $40.81. Toast, Inc. has a 12 month low of $26.91 and a 12 month high of $49.66. The stock has a market cap of $18.94 billion, a P/E ratio of 109.24 and a beta of 2.00.

Toast (NYSE:TOST) last posted its quarterly 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 net margin of 4.07% and a return on equity of 14.19%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the firm earned $0.02 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. On average, equities research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Toast

In other news, Director Paul D. Bell sold 12,500 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $42.38, for a total transaction of $529,750.00. Following the transaction, the director directly owned 226,892 shares in the company, valued at $9,615,682.96. The trade was a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Jonathan Vassil sold 6,592 shares of the business’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $280,753.28. Following the transaction, the executive owned 61,791 shares in the company, valued at approximately $2,631,678.69. This represents a 9.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,342 shares of company stock worth $3,804,710 over the last 90 days. 12.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

TOST has been the topic of several research reports. Robert W. Baird set a $48.00 price target on Toast in a report on Monday, September 22nd. Jefferies Financial Group upped their price target on Toast from $50.00 to $54.00 and gave the company a “buy” rating in a report on Friday, July 18th. Canaccord Genuity Group boosted their target price on shares of Toast from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. The Goldman Sachs Group boosted their target price on shares of Toast from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Finally, Barclays reissued an “overweight” rating on shares of Toast in a research note on Wednesday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.65.

Toast Company 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.