Toast, Inc. (NYSE:TOST) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP raised its stake in Toast, Inc. (NYSE:TOST) by 175.8% in the second quarter, HoldingsChannel.com reports. The fund owned 2,517,288 shares of the company’s stock after purchasing an additional 1,604,716 shares during the quarter. Marshall Wace LLP’s holdings in Toast were worth $64,871,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. West Branch Capital LLC acquired a new position in Toast in the 2nd quarter valued at about $26,000. LRI Investments LLC purchased a new stake in shares of Toast during the first quarter worth about $27,000. Principal Securities Inc. acquired a new position in shares of Toast in the fourth quarter valued at approximately $30,000. Cape Investment Advisory Inc. purchased a new position in shares of Toast during the fourth quarter valued at approximately $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Toast during the second quarter worth approximately $33,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 211,686 shares of the firm’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 completion of the sale, the president now owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Toast news, President Stephen Fredette sold 211,686 shares of the stock in a transaction 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 transaction, the president now directly owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Jonathan Vassil sold 4,712 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total transaction of $120,815.68. Following the transaction, the executive now directly owns 31,919 shares of the company’s stock, valued at $818,403.16. The disclosure for this sale can be found here. Insiders have sold a total of 804,707 shares of company stock valued at $20,382,344 in the last three months. Corporate insiders own 13.32% of the company’s stock.

Toast Stock Up 1.3 %

TOST opened at $28.00 on Wednesday. Toast, Inc. has a twelve month low of $13.77 and a twelve month high of $28.19. The company has a fifty day simple moving average of $25.13 and a 200 day simple moving average of $24.63.

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 business 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%. The company’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 company earned ($0.19) earnings per share. Equities research analysts forecast that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on TOST shares. Bank of America boosted their price target on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. The Goldman Sachs Group reiterated a “buy” rating and set a $29.00 target price on shares of Toast in a research report on Thursday, September 12th. JPMorgan Chase & Co. lifted their price target on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Wedbush upgraded shares of Toast to a “strong-buy” rating in a report on Friday, September 6th. Finally, Stephens restated an “equal weight” rating and issued a $28.00 target price on shares of Toast in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Toast currently has an average rating of “Moderate Buy” and an average target price of $28.33.

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.