Ascent Group LLC Takes Position in Toast, Inc. (NYSE:TOST)

Ascent Group LLC bought a new position in shares of Toast, Inc. (NYSE:TOST) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 12,925 shares of the company’s stock, valued at approximately $333,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TOST. LRI Investments LLC acquired a new position in Toast during the first quarter worth $27,000. West Branch Capital LLC acquired a new position in Toast in the second quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Toast during the second quarter worth about $33,000. 1620 Investment Advisors Inc. bought a new position in Toast in the 2nd quarter valued at about $34,000. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of Toast during the 1st quarter worth approximately $37,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Stock Up 0.9 %

Shares of TOST opened at $28.57 on Wednesday. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $29.92. The business has a fifty day moving average of $25.19 and a 200 day moving average of $24.71. The company has a market cap of $13.17 billion, a PE ratio of -57.13 and a beta of 1.75.

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

Analysts Set New Price Targets

Several research analysts have commented on TOST shares. Needham & Company LLC reissued a “buy” rating and set a $30.00 target price on shares of Toast in a research note on Wednesday, August 7th. Mizuho raised Toast from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $21.00 to $33.00 in a research note on Thursday, July 18th. Wedbush raised shares of Toast to a “strong-buy” rating in a research report on Friday, September 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $27.00 price objective on shares of Toast in a research report on Wednesday, August 7th. Finally, Bank of America boosted their price objective on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Toast presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 1,127 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $27,048.00. Following the transaction, the president now owns 2,849,709 shares in the company, valued at approximately $68,393,016. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Christopher P. Comparato sold 90,000 shares of Toast stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $26.54, for a total value of $2,388,600.00. Following the sale, the director now owns 112,282 shares in the company, valued at $2,979,964.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Stephen Fredette sold 1,127 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $27,048.00. Following the transaction, the president now directly owns 2,849,709 shares of the company’s stock, valued at approximately $68,393,016. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 955,019 shares of company stock worth $24,770,520. 13.32% of the stock is owned by insiders.

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.