Toast, Inc. $TOST Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC grew its position in shares of Toast, Inc. (NYSE:TOST) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,139 shares of the company’s stock after purchasing an additional 278 shares during the period. GAMMA Investing LLC’s holdings in Toast were worth $183,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. IFM Investors Pty Ltd boosted its position in Toast by 29.2% during the second quarter. IFM Investors Pty Ltd now owns 83,803 shares of the company’s stock worth $3,712,000 after acquiring an additional 18,950 shares during the last quarter. Procyon Advisors LLC purchased a new position in shares of Toast during the 1st quarter worth $242,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Toast by 5.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,092,210 shares of the company’s stock worth $102,569,000 after purchasing an additional 153,723 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Toast by 19.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company’s stock worth $829,000 after purchasing an additional 3,713 shares during the last quarter. Finally, Yorktown Management & Research Co Inc purchased a new stake in shares of Toast in the first quarter valued at $252,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TOST shares. Truist Financial increased their target price on Toast from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Wall Street Zen downgraded shares of Toast from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. The Goldman Sachs Group raised their target price on shares of Toast from $45.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their target price on shares of Toast from $42.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Finally, Wells Fargo & Company started coverage on shares of Toast in a research report on Wednesday, July 16th. They set a “buy” rating for the company. Fifteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Toast presently has an average rating of “Moderate Buy” and an average price target of $46.65.

Toast Stock Performance

Shares of NYSE:TOST opened at $37.13 on Monday. The stock has a 50-day simple moving average of $43.47 and a 200-day simple moving average of $40.80. The stock has a market capitalization of $18.94 billion, a P/E ratio of 109.20 and a beta of 2.00. Toast, Inc. has a 1 year low of $26.91 and a 1 year high of $49.66.

Toast (NYSE:TOST) last posted 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). Toast had a net margin of 4.07% and a return on equity of 14.19%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the business posted $0.02 EPS. The company’s quarterly revenue was up 24.8% on a year-over-year basis. Analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Paul D. Bell sold 12,500 shares of Toast stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $42.38, for a total transaction of $529,750.00. Following the transaction, the director owned 226,892 shares in the company, valued at approximately $9,615,682.96. The trade was a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Elena Gomez sold 34,170 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.56, for a total value of $1,454,275.20. Following the completion of the sale, the chief financial officer owned 139,357 shares of the company’s stock, valued at approximately $5,931,033.92. This represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,342 shares of company stock worth $3,804,710. 12.14% of the stock is owned by company 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.