Marshall Wace LLP Increases Stake in Toast, Inc. $TOST

Marshall Wace LLP lifted its position in Toast, Inc. (NYSE:TOST) by 108.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,887,409 shares of the company’s stock after buying an additional 4,100,104 shares during the period. Marshall Wace LLP owned about 1.55% of Toast worth $349,333,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Roundview Capital LLC boosted its stake in Toast by 0.6% during the 2nd quarter. Roundview Capital LLC now owns 43,619 shares of the company’s stock valued at $1,932,000 after purchasing an additional 245 shares during the last quarter. GAMMA Investing LLC lifted its stake in Toast by 7.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,139 shares of the company’s stock valued at $183,000 after acquiring an additional 278 shares during the period. True Vision MN LLC boosted its holdings in shares of Toast by 3.6% during the 2nd quarter. True Vision MN LLC now owns 8,186 shares of the company’s stock valued at $363,000 after acquiring an additional 285 shares during the last quarter. Advisors Asset Management Inc. grew its position in Toast by 7.3% in the 1st quarter. Advisors Asset Management Inc. now owns 4,439 shares of the company’s stock worth $147,000 after purchasing an additional 301 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Toast by 4.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 6,921 shares of the company’s stock valued at $307,000 after buying an additional 306 shares during the period. Institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In other news, General Counsel Brian R. Elworthy sold 4,987 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 transaction of $177,337.72. Following the completion of the transaction, the general counsel owned 227,924 shares in the company, valued at $8,104,977.44. This trade represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Stephen Fredette sold 7,550 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 value of $268,478.00. Following the completion of the sale, the president owned 898,475 shares in the company, valued at $31,949,771. This represents a 0.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 49,759 shares of company stock worth $1,769,270. Insiders own 12.14% of the company’s stock.

Toast Price Performance

TOST stock opened at $35.16 on Friday. The company has a market capitalization of $18.11 billion, a price-to-earnings ratio of 81.77 and a beta of 1.94. Toast, Inc. has a 1-year low of $28.12 and a 1-year high of $49.66. The business has a 50 day simple moving average of $36.14 and a two-hundred day simple moving average of $40.92.

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). The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. Toast had a return on equity of 15.77% and a net margin of 4.68%.Toast’s revenue was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 EPS. Sell-side analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Morgan Stanley raised their target price on Toast from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Truist Financial dropped their price target on shares of Toast from $47.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. BNP Paribas Exane raised shares of Toast from a “neutral” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Monday. DA Davidson set a $42.00 target price on Toast in a research report on Wednesday, November 5th. Finally, Wall Street Zen raised Toast from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.18.

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.