Motley Fool Asset Management LLC Decreases Position in Toast, Inc. $TOST

Motley Fool Asset Management LLC lessened its holdings in Toast, Inc. (NYSE:TOST) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 314,619 shares of the company’s stock after selling 11,524 shares during the quarter. Toast accounts for 0.6% of Motley Fool Asset Management LLC’s investment portfolio, making the stock its 28th biggest position. Motley Fool Asset Management LLC owned 0.06% of Toast worth $13,934,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Roundview Capital LLC raised its position in Toast by 0.6% in the 2nd 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 grew its holdings in Toast by 7.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,139 shares of the company’s stock worth $183,000 after acquiring an additional 278 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in Toast by 29.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock worth $42,000 after acquiring an additional 284 shares during the last quarter. True Vision MN LLC grew its holdings in Toast by 3.6% in the 2nd quarter. True Vision MN LLC now owns 8,186 shares of the company’s stock worth $363,000 after acquiring an additional 285 shares during the last quarter. Finally, Stonekeep Investments LLC grew its holdings in Toast by 4.0% in the 1st quarter. Stonekeep Investments LLC now owns 7,791 shares of the company’s stock worth $258,000 after acquiring an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In related news, CRO Jonathan Vassil sold 6,530 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $232,206.80. Following the sale, the executive owned 69,932 shares of the company’s stock, valued at $2,486,781.92. The trade was a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Aman Narang sold 13,652 shares of the business’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 $485,465.12. Following the sale, the chief executive officer directly owned 318,150 shares in the company, valued at $11,313,414. The trade was a 4.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,196 shares of company stock valued at $2,398,513 over the last three months. 12.14% of the stock is currently owned by corporate insiders.

Toast Trading Up 1.5%

Shares of TOST opened at $38.94 on Tuesday. The firm’s 50-day moving average price is $39.63 and its 200-day moving average price is $41.28. The firm has a market capitalization of $19.86 billion, a price-to-earnings ratio of 114.54 and a beta of 1.94. Toast, Inc. has a 1-year low of $28.12 and a 1-year high of $49.66.

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

Wall Street Analyst Weigh In

TOST has been the topic of a number of recent analyst reports. Canaccord Genuity Group raised their price target on shares of Toast from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Jefferies Financial Group raised their price target on shares of Toast from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Morgan Stanley raised their price target on shares of Toast from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. Wells Fargo & Company raised shares of Toast to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Toast from $42.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.