Toast, Inc. (NYSE:TOST) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its stake in Toast, Inc. (NYSE:TOST) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,919 shares of the company’s stock after acquiring an additional 3,616 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Toast were worth $2,188,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Principal Securities Inc. bought a new position in Toast during the 4th quarter worth $30,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Toast by 5.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock valued at $255,000 after acquiring an additional 774 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of Toast by 8,092.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 69,386 shares of the company’s stock worth $1,267,000 after acquiring an additional 68,539 shares during the last quarter. Norges Bank acquired a new stake in shares of Toast in the 4th quarter worth about $76,699,000. Finally, Dynamic Technology Lab Private Ltd lifted its position in Toast by 65.5% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 47,523 shares of the company’s stock valued at $868,000 after purchasing an additional 18,808 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, President Stephen Fredette sold 211,686 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the sale, the president now owns 2,638,023 shares in the company, valued at $62,178,202.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Toast news, General Counsel Brian R. Elworthy sold 2,573 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $25.64, for a total transaction of $65,971.72. Following the completion of the sale, the general counsel now directly owns 170,531 shares in the company, valued at approximately $4,372,414.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the transaction, the president now owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. The disclosure for this sale can be found here. Insiders sold a total of 651,612 shares of company stock worth $16,191,520 over the last ninety days. 13.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TOST has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Baird R W cut Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $21.00 to $33.00 in a research report on Thursday, July 18th. Robert W. Baird cut Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price target for the company. in a research note on Tuesday, May 21st. Finally, Wedbush upgraded shares of Toast to a “strong-buy” rating in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Toast Stock Performance

NYSE TOST opened at $26.75 on Wednesday. Toast, Inc. has a 1 year low of $13.77 and a 1 year high of $27.90. The business’s fifty day moving average is $24.93 and its two-hundred day moving average is $24.53. The stock has a market capitalization of $12.12 billion, a P/E ratio of -53.50 and a beta of 1.75.

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 analysts’ consensus estimates of ($0.02) by $0.04. The company 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 for the quarter was up 27.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.19) earnings per share. On average, research analysts forecast that Toast, Inc. will post -0.1 earnings per share 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.