Toast, Inc. $TOST Position Raised by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in Toast, Inc. (NYSE:TOST) by 11.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 458,261 shares of the company’s stock after purchasing an additional 47,220 shares during the period. Intech Investment Management LLC’s holdings in Toast were worth $20,296,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Ameritas Advisory Services LLC acquired a new stake in shares of Toast in the second quarter valued at $31,000. REAP Financial Group LLC grew its stake in shares of Toast by 173.3% in the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after purchasing an additional 506 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of 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 purchasing an additional 284 shares in the last quarter. Motco acquired a new stake in Toast during the second quarter valued at approximately $44,000. Finally, Cullen Frost Bankers Inc. boosted its holdings 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 buying an additional 941 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Aman Narang sold 1,732 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total value of $61,555.28. Following the completion of the sale, the chief executive officer owned 319,939 shares of the company’s stock, valued at approximately $11,370,632.06. The trade was a 0.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Jonathan Vassil sold 1,442 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $51,248.68. Following the transaction, the executive directly owned 71,424 shares in the company, valued at approximately $2,538,408.96. The trade was a 1.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 62,259 shares of company stock valued at $2,299,020. 12.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TOST. Morgan Stanley upped their price target on Toast from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Wells Fargo & Company upgraded Toast to a “strong-buy” rating in a research report on Wednesday, October 22nd. Canaccord Genuity Group boosted their price objective on Toast from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. DA Davidson set a $42.00 price objective on shares of Toast in a research note on Wednesday, November 5th. Finally, Wolfe Research reissued an “outperform” rating and issued a $48.00 target price on shares of Toast in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $45.45.

Toast Stock Performance

TOST stock opened at $35.82 on Friday. The firm has a 50 day simple moving average of $37.78 and a 200 day simple moving average of $41.44. Toast, Inc. has a 52 week low of $28.12 and a 52 week high of $49.66. The stock has a market cap of $18.45 billion, a P/E ratio of 83.30 and a beta of 1.94.

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

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.