Federated Hermes Inc. Purchases 124,406 Shares of Toast, Inc. (NYSE:TOST)

Federated Hermes Inc. grew its position in shares of Toast, Inc. (NYSE:TOST) by 7.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,731,600 shares of the company’s stock after buying an additional 124,406 shares during the quarter. Federated Hermes Inc. owned 0.38% of Toast worth $44,623,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TOST. LRI Investments LLC bought a new stake in Toast during the first quarter worth $27,000. West Branch Capital LLC purchased a new stake in shares of Toast during the 2nd quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Toast during the 2nd quarter worth $33,000. 1620 Investment Advisors Inc. purchased a new position in shares of Toast in the 2nd quarter worth about $34,000. Finally, Harbor Investment Advisory LLC bought a new position in Toast during the first quarter valued at about $37,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

NYSE:TOST opened at $26.19 on Friday. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of -52.38 and a beta of 1.75. The stock has a fifty day moving average of $24.87 and a 200 day moving average of $24.45. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $27.90.

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

Insider Activity

In other Toast news, CEO Aman Narang sold 6,355 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total value of $162,942.20. Following the completion of the sale, the chief executive officer now owns 1,131,043 shares of the company’s stock, valued at $28,999,942.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Toast news, CEO Aman Narang sold 6,355 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total value of $162,942.20. Following the completion of the sale, the chief executive officer now directly owns 1,131,043 shares of the company’s stock, valued at $28,999,942.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher P. Comparato sold 80,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $24.23, for a total transaction of $1,938,400.00. Following the sale, the director now owns 97,762 shares of the company’s stock, valued at $2,368,773.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 731,612 shares of company stock worth $18,129,920. 13.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on TOST. Stephens reaffirmed an “equal weight” rating and issued a $28.00 price objective on shares of Toast in a research report on Thursday, May 30th. Morgan Stanley upped their price objective 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 decreased their target price on Toast from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Robert W. Baird cut Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research report on Tuesday, May 21st. Finally, Baird R W lowered Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.22.

Toast Company 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.