Jupiter Asset Management Ltd. Has $46.78 Million Stock Position in Toast, Inc. $TOST

Jupiter Asset Management Ltd. increased its stake in Toast, Inc. (NYSE:TOST) by 928.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,056,127 shares of the company’s stock after purchasing an additional 953,473 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.21% of Toast worth $46,776,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ameritas Advisory Services LLC bought a new position in Toast in the 2nd quarter valued at about $31,000. REAP Financial Group LLC boosted its position in shares of Toast by 173.3% during the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after acquiring an additional 506 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Toast by 29.2% in the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock valued at $42,000 after acquiring an additional 284 shares during the last quarter. Motco acquired a new position in Toast during the second quarter valued at approximately $44,000. Finally, Cullen Frost Bankers Inc. lifted its stake in Toast by 1,383.8% during the second quarter. Cullen Frost Bankers Inc. now owns 1,009 shares of the company’s stock worth $45,000 after purchasing an additional 941 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

Shares of NYSE:TOST opened at $37.52 on Wednesday. Toast, Inc. has a 52-week low of $28.12 and a 52-week high of $49.66. The business’s 50 day simple moving average is $38.06 and its two-hundred day simple moving average is $41.49. The firm has a market cap of $19.32 billion, a P/E ratio of 87.26 and a beta of 1.94.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a return on equity of 15.77% and a net margin of 4.68%.The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company earned $0.07 earnings per share. Toast’s revenue for the quarter was up 25.1% compared to the same quarter last year. On average, equities analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TOST shares. Wolfe Research reiterated an “outperform” rating and issued a $48.00 price target on shares of Toast in a research note on Wednesday, November 5th. Royal Bank Of Canada set a $45.00 target price on shares of Toast in a report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Toast in a research note on Thursday, July 17th. They issued a “buy” rating and a $54.00 price target on the stock. The Goldman Sachs Group lowered their price objective on shares of Toast from $51.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Toast in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.64.

Insider Activity

In other news, Director Paul D. Bell sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $42.38, for a total value of $529,750.00. Following the transaction, the director owned 226,892 shares in the company, valued at $9,615,682.96. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Stephen Fredette sold 7,550 shares of the company’s stock in a transaction 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 sale, the president owned 898,475 shares of the company’s stock, valued at $31,949,771. This trade represents a 0.83% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 62,259 shares of company stock valued at $2,299,020. 12.14% of the stock is currently owned by 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.