Toast, Inc. $TOST Stock Bought by Royal Fund Management LLC

Royal Fund Management LLC lifted its stake in Toast, Inc. (NYSE:TOST) by 41.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,600 shares of the company’s stock after acquiring an additional 18,800 shares during the period. Royal Fund Management LLC’s holdings in Toast were worth $1,873,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Toast by 36.0% during the first quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company’s stock valued at $211,478,000 after purchasing an additional 2,111,009 shares during the period. Bank of America Corp DE boosted its stake in shares of Toast by 10.6% in the 1st quarter. Bank of America Corp DE now owns 4,866,197 shares of the company’s stock valued at $129,003,000 after purchasing an additional 465,006 shares in the last quarter. Renaissance Technologies LLC grew its stake in Toast by 25.1% during the first quarter. Renaissance Technologies LLC now owns 4,321,437 shares of the company’s stock worth $114,561,000 after buying an additional 867,509 shares during the last quarter. Amova Asset Management Americas Inc. grew its position in Toast by 0.4% during the 1st quarter. Amova Asset Management Americas Inc. now owns 3,817,961 shares of the company’s stock worth $101,176,000 after acquiring an additional 16,614 shares during the last quarter. Finally, Amundi grew its position in Toast by 24.5% during the 1st quarter. Amundi now owns 3,329,206 shares of the company’s stock worth $88,257,000 after acquiring an additional 655,717 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.

Toast Stock Down 2.1%

TOST traded down $0.71 during trading hours on Friday, hitting $32.71. 5,281,663 shares of the company’s stock were exchanged, compared to its average volume of 8,082,986. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $39.72. The stock’s 50-day moving average is $32.35 and its two-hundred day moving average is $29.43. The stock has a market cap of $16.81 billion, a price-to-earnings ratio of 41.94 and a beta of 1.74.

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

Insider Activity

In other Toast news, CEO Aman Narang sold 14,713 shares of the stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $29.35, for a total value of $431,826.55. Following the completion of the sale, the chief executive officer owned 86,543 shares in the company, valued at $2,540,037.05. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Elena Gomez sold 11,886 shares of the firm’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $29.35, for a total transaction of $348,854.10. Following the completion of the sale, the chief financial officer owned 171,957 shares of the company’s stock, valued at $5,046,937.95. This trade represents a 6.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 534,830 shares of company stock valued at $18,566,600. 10.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TOST shares. BTIG Research restated a “neutral” rating on shares of Toast in a research note on Thursday, August 27th. Weiss Ratings raised shares of Toast from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Sanford C. Bernstein upped their price objective on Toast from $39.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Bank of America began coverage on shares of Toast in a report on Thursday, October 15th. They set a “buy” rating and a $40.00 price objective for the company. Finally, Canaccord Genuity Group set a $40.00 target price on Toast in a research note on Wednesday, August 5th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.11.

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.