Ethic Inc. Grows Holdings in Toast, Inc. $TOST

Ethic Inc. grew its holdings in Toast, Inc. (NYSE:TOST) by 32.7% during the second quarter, HoldingsChannel.com reports. The firm owned 28,820 shares of the company’s stock after acquiring an additional 7,101 shares during the quarter. Ethic Inc.’s holdings in Toast were worth $1,265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Roundview Capital LLC increased its stake in Toast by 0.6% in the second quarter. Roundview Capital LLC now owns 43,619 shares of the company’s stock worth $1,932,000 after purchasing an additional 245 shares during the period. GAMMA Investing LLC increased its stake in Toast by 7.2% in the second quarter. GAMMA Investing LLC now owns 4,139 shares of the company’s stock worth $183,000 after purchasing an additional 278 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Toast by 29.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock valued at $42,000 after buying an additional 284 shares during the period. True Vision MN LLC increased its stake in shares of Toast by 3.6% during the second quarter. True Vision MN LLC now owns 8,186 shares of the company’s stock valued at $363,000 after buying an additional 285 shares during the period. Finally, Stonekeep Investments LLC increased its stake in shares of Toast by 4.0% during the first quarter. Stonekeep Investments LLC now owns 7,791 shares of the company’s stock valued at $258,000 after buying an additional 297 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Price Performance

TOST opened at $38.32 on Monday. The business’s 50-day moving average is $39.70 and its two-hundred day moving average is $41.25. Toast, Inc. has a 1 year low of $28.12 and a 1 year high of $49.66. The firm has a market capitalization of $19.54 billion, a PE ratio of 112.71 and a beta of 1.94.

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 net margin of 4.07% and a return on equity of 14.19%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the firm earned $0.02 EPS. Toast’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, sell-side analysts expect that Toast, Inc. will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

TOST has been the topic of several research reports. Needham & Company LLC raised their price target on Toast from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. The Goldman Sachs Group cut their price target on Toast from $51.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Wall Street Zen upgraded Toast from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Truist Financial set a $47.00 price target on Toast in a research note on Friday. Finally, Keefe, Bruyette & Woods cut their price target on Toast from $50.00 to $42.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.17.

Insiders Place Their Bets

In other Toast news, CEO Aman Narang sold 13,652 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 value of $485,465.12. Following the completion of the sale, the chief executive officer owned 318,150 shares of the company’s stock, valued at approximately $11,313,414. This trade represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 9,054 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 value of $321,960.24. Following the completion of the sale, the chief financial officer directly owned 149,572 shares of the company’s stock, valued at approximately $5,318,780.32. This represents a 5.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,196 shares of company stock valued at $2,398,513. 12.14% of the stock is currently owned by corporate insiders.

About Toast

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.