Ballentine Partners LLC Acquires 957 Shares of Toast, Inc. $TOST

Ballentine Partners LLC grew its holdings in Toast, Inc. (NYSE:TOST) by 13.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,868 shares of the company’s stock after buying an additional 957 shares during the period. Ballentine Partners LLC’s holdings in Toast were worth $348,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Wayfinding Financial LLC purchased a new position in Toast in the first quarter worth about $34,000. Piscataqua Savings Bank raised its position in Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company’s stock valued at $36,000 after purchasing an additional 400 shares during the period. West Branch Capital LLC lifted its stake in shares of Toast by 862.1% in the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares during the last quarter. SBI Securities Co. Ltd. boosted 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 during the period. Finally, Signaturefd LLC boosted its holdings in shares of Toast by 227.1% in the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company’s stock worth $49,000 after purchasing an additional 1,022 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Insider Activity at Toast

In related news, CEO Aman Narang sold 13,829 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total transaction of $588,977.11. Following the sale, the chief executive officer owned 302,498 shares of the company’s stock, valued at $12,883,389.82. This trade represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Stephen Fredette sold 7,647 shares of Toast stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $325,685.73. Following the completion of the transaction, the president owned 889,017 shares in the company, valued at $37,863,234.03. This trade represents a 0.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,342 shares of company stock worth $3,804,710 over the last quarter. Corporate insiders own 12.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Robert W. Baird set a $48.00 price target on Toast in a report on Monday, September 22nd. DA Davidson increased their target price on shares of Toast from $40.00 to $46.00 and gave the company a “neutral” rating in a research note on Tuesday, July 29th. The Goldman Sachs Group lifted their price target on shares of Toast from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Wall Street Zen downgraded shares of Toast from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, Wells Fargo & Company started coverage on shares of Toast in a research report on Wednesday, July 16th. They issued a “buy” rating on the stock. Fifteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.65.

Toast Stock Performance

Shares of NYSE:TOST opened at $37.13 on Monday. Toast, Inc. has a one year low of $26.91 and a one year high of $49.66. The firm has a market cap of $18.94 billion, a PE ratio of 109.20 and a beta of 2.00. The firm’s 50 day simple moving average is $43.47 and its 200-day simple moving average is $40.80.

Toast (NYSE:TOST) last issued 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). Toast had a net margin of 4.07% and a return on equity of 14.19%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the firm earned $0.02 earnings per share. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. Equities research analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal year.

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.