Toast, Inc. (NYSE:TOST) Shares Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its position in shares of Toast, Inc. (NYSE:TOST) by 133.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 339,101 shares of the company’s stock after purchasing an additional 194,044 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Toast were worth $8,739,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. West Branch Capital LLC bought a new position in Toast during the second quarter worth $26,000. LRI Investments LLC bought a new position in Toast during the first quarter worth $27,000. Principal Securities Inc. bought a new position in Toast during the fourth quarter worth $30,000. Cape Investment Advisory Inc. bought a new position in Toast during the fourth quarter worth $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Toast during the second quarter worth $33,000. 82.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on TOST shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $26.00 price objective on shares of Toast in a research note on Wednesday, May 29th. JPMorgan Chase & Co. raised their target price on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Morgan Stanley raised their target price on Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Bank of America cut their target price on Toast from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $27.00 target price on shares of Toast in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Toast presently has a consensus rating of “Hold” and a consensus price target of $28.22.

Insider Buying and Selling

In related news, Director Christopher P. Comparato sold 90,000 shares of Toast stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $26.54, for a total transaction of $2,388,600.00. Following the transaction, the director now directly owns 112,282 shares of the company’s stock, valued at $2,979,964.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Christopher P. Comparato sold 100,000 shares of Toast stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $24.35, for a total value of $2,435,000.00. Following the transaction, the director now owns 120,107 shares of the company’s stock, valued at approximately $2,924,605.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher P. Comparato sold 90,000 shares of Toast stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $26.54, for a total value of $2,388,600.00. Following the completion of the transaction, the director now directly owns 112,282 shares in the company, valued at approximately $2,979,964.28. The disclosure for this sale can be found here. Insiders have sold a total of 418,352 shares of company stock valued at $10,526,982 over the last three months. Company insiders own 13.32% of the company’s stock.

Toast Price Performance

NYSE:TOST opened at $24.12 on Friday. The business’s 50-day moving average price is $24.98 and its 200 day moving average price is $24.31. The firm has a market cap of $11.12 billion, a P/E ratio of -48.24 and a beta of 1.75. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $27.90.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. Toast’s revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.19) earnings per share. Sell-side analysts expect that Toast, Inc. will post -0.1 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.