Bleakley Financial Group LLC Takes $495,000 Position in Toast, Inc. $TOST

Bleakley Financial Group LLC bought a new position in shares of Toast, Inc. (NYSE:TOST) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,168 shares of the company’s stock, valued at approximately $495,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TOST. GAMMA Investing LLC grew its holdings in Toast by 38.7% during the first quarter. GAMMA Investing LLC now owns 3,861 shares of the company’s stock worth $128,000 after acquiring an additional 1,077 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Toast by 14.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 26,106 shares of the company’s stock worth $866,000 after acquiring an additional 3,355 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Toast by 17.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 15,418 shares of the company’s stock worth $511,000 after acquiring an additional 2,294 shares during the period. Asset Management One Co. Ltd. grew its holdings in Toast by 3.4% during the first quarter. Asset Management One Co. Ltd. now owns 143,478 shares of the company’s stock worth $4,759,000 after acquiring an additional 4,744 shares during the period. Finally, Bessemer Group Inc. grew its holdings in Toast by 14.7% during the first quarter. Bessemer Group Inc. now owns 35,499 shares of the company’s stock worth $1,177,000 after acquiring an additional 4,554 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, President Stephen Fredette sold 7,550 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $268,478.00. Following the transaction, the president owned 898,475 shares in the company, valued at $31,949,771. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Jonathan Vassil sold 6,530 shares of the firm’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 $232,206.80. Following the completion of the transaction, the executive owned 69,932 shares in the company, valued at approximately $2,486,781.92. This trade represents a 8.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,196 shares of company stock valued at $2,398,513. 12.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TOST has been the topic of several analyst reports. Jefferies Financial Group raised their target price on Toast from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Barclays reaffirmed an “overweight” rating on shares of Toast in a report on Wednesday, July 16th. Citigroup raised Toast to a “strong-buy” rating in a report on Thursday. Wells Fargo & Company raised Toast to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Wall Street Zen raised Toast from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $46.17.

Toast Price Performance

NYSE TOST opened at $38.32 on Monday. The company has a market cap of $19.54 billion, a PE ratio of 112.71 and a beta of 1.94. The stock’s 50 day simple moving average is $39.70 and its 200-day simple moving average is $41.25. Toast, Inc. has a 1-year low of $28.12 and a 1-year high of $49.66.

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

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.