Ascent Group LLC Makes New $333,000 Investment in Toast, Inc. (NYSE:TOST)

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

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

Toast Stock Up 0.9 %

NYSE TOST opened at $28.57 on Wednesday. The stock has a market cap of $13.17 billion, a price-to-earnings ratio of -57.13 and a beta of 1.75. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two 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.

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

Insider Activity at Toast

In other news, President Stephen Fredette sold 181,304 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $28.56, for a total transaction of $5,178,042.24. Following the completion of the transaction, the president now owns 1,897,378 shares of the company’s stock, valued at approximately $54,189,115.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CRO Jonathan Vassil sold 1,541 shares of the stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Stephen Fredette sold 181,304 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $28.56, for a total value of $5,178,042.24. Following the completion of the transaction, the president now owns 1,897,378 shares of the company’s stock, valued at approximately $54,189,115.68. 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 currently owned by insiders.

Analyst Upgrades and Downgrades

TOST has been the subject of several analyst reports. Mizuho upgraded shares of 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 report on Thursday, July 18th. Morgan Stanley increased their price objective on Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $27.00 price target on shares of Toast in a research note on Wednesday, August 7th. Bank of America increased their target price on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Finally, Wedbush raised shares of Toast to a “strong-buy” rating in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.33.

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.