Toast, Inc. (NYSE:TOST) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in Toast, Inc. (NYSE:TOST) by 46.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 333,013 shares of the company’s stock after purchasing an additional 105,739 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Toast were worth $8,582,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its position in shares of Toast by 4.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 84,919 shares of the company’s stock worth $2,188,000 after purchasing an additional 3,616 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Toast by 7.7% in the second quarter. Federated Hermes Inc. now owns 1,731,600 shares of the company’s stock worth $44,623,000 after purchasing an additional 124,406 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Toast by 36.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 49,871 shares of the company’s stock valued at $1,267,000 after acquiring an additional 13,388 shares during the last quarter. NINE MASTS CAPITAL Ltd bought a new position in shares of Toast in the second quarter valued at approximately $258,000. Finally, American Century Companies Inc. increased its holdings in Toast by 25.5% in the 2nd quarter. American Century Companies Inc. now owns 27,844 shares of the company’s stock valued at $718,000 after buying an additional 5,651 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Stock Performance

Shares of TOST opened at $27.99 on Friday. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $29.92. The firm has a 50 day moving average price of $25.17 and a 200-day moving average price of $24.69. The firm has a market cap of $12.90 billion, a price-to-earnings ratio of -55.98 and a beta of 1.75.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the company earned ($0.19) earnings per share. Toast’s quarterly revenue was up 27.0% on a year-over-year basis. As a group, equities research analysts predict that Toast, Inc. will post -0.1 earnings per share for the current year.

Insider Buying and Selling

In related news, President Stephen Fredette sold 211,686 shares of the stock in a transaction that occurred on 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 sale, the president now directly owns 2,638,023 shares of the company’s stock, 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. In related news, President Stephen Fredette sold 211,686 shares of Toast stock in a transaction dated Tuesday, September 10th. The stock was 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 $62,178,202.11. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Jonathan Vassil sold 1,541 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $36,984.00. Following the completion of the sale, the executive now owns 33,312 shares in the company, valued at $799,488. The disclosure for this sale can be found here. In the last ninety days, insiders sold 804,707 shares of company stock worth $20,382,344. 13.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TOST has been the topic of several research reports. Needham & Company LLC reiterated a “buy” rating and set a $30.00 price target on shares of Toast in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $27.00 price target on shares of Toast in a research report on Wednesday, August 7th. Bank of America upped their price objective on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Toast in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.