Toast, Inc. $TOST Shares Bought by Baird Financial Group Inc.

Baird Financial Group Inc. raised its stake in Toast, Inc. (NYSE:TOST) by 8.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,408 shares of the company’s stock after purchasing an additional 720 shares during the period. Baird Financial Group Inc.’s holdings in Toast were worth $312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Toast by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company’s stock valued at $1,457,675,000 after purchasing an additional 1,471,352 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Toast by 17.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock valued at $777,978,000 after purchasing an additional 3,490,686 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in Toast by 7.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company’s stock valued at $514,811,000 after purchasing an additional 1,082,958 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Toast by 2.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,755,872 shares of the company’s stock worth $190,922,000 after acquiring an additional 160,088 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Toast by 14,258.8% during the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock worth $181,587,000 after acquiring an additional 5,436,317 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Up 2.2%

TOST opened at $40.79 on Friday. The firm has a market cap of $20.80 billion, a price-to-earnings ratio of 119.97 and a beta of 2.00. Toast, Inc. has a 52 week low of $24.95 and a 52 week high of $49.66. The business’s 50 day moving average is $44.67 and its two-hundred day moving average is $40.44.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on TOST. Citigroup reissued a “buy” rating on shares of Toast in a research report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of Toast in a research report on Thursday, July 17th. They set a “buy” rating and a $54.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Toast from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Jefferies Financial Group boosted their price objective on shares of Toast from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Toast from $47.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.54.

Insider Buying and Selling

In other Toast news, CRO Jonathan Vassil sold 6,592 shares of Toast stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total value of $280,753.28. Following the transaction, the executive directly owned 61,791 shares in the company, valued at approximately $2,631,678.69. This trade represents a 9.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul D. Bell sold 12,500 shares of Toast stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $42.38, for a total value of $529,750.00. Following the completion of 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 88,342 shares of company stock worth $3,804,710. 12.14% of the stock is currently owned by insiders.

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.