Quantitative Investment Management LLC Boosts Position in Toast, Inc. $TOST

Quantitative Investment Management LLC raised its position in Toast, Inc. (NYSE:TOST) by 120.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 63,823 shares of the company’s stock after acquiring an additional 34,831 shares during the quarter. Quantitative Investment Management LLC’s holdings in Toast were worth $1,775,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BOKF NA grew its position in Toast by 4.5% during the third quarter. BOKF NA now owns 8,023 shares of the company’s stock valued at $293,000 after buying an additional 345 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in shares of Toast by 0.5% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 67,909 shares of the company’s stock worth $1,800,000 after purchasing an additional 358 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Toast by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock valued at $1,012,000 after purchasing an additional 380 shares during the period. Seven Mile Advisory increased its position in Toast by 3.1% in the third quarter. Seven Mile Advisory now owns 12,689 shares of the company’s stock worth $463,000 after buying an additional 381 shares in the last quarter. Finally, HM Payson & Co. raised its stake in shares of Toast by 6.2% in the fourth quarter. HM Payson & Co. now owns 6,742 shares of the company’s stock worth $239,000 after buying an additional 392 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analysts Set New Price Targets

TOST has been the subject of a number of analyst reports. Robert W. Baird increased their price objective on shares of Toast from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Morgan Stanley set a $45.00 price objective on Toast in a research report on Friday, May 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Toast in a research report on Monday, August 17th. Rothschild & Co Redburn reissued a “neutral” rating and issued a $35.00 price target on shares of Toast in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada upped their price target on Toast from $36.00 to $44.00 and gave the stock a “sector perform” rating in a research note on Monday. Seventeen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.31.

Insider Transactions at Toast

In other Toast news, CEO Aman Narang sold 124,542 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $35.29, for a total transaction of $4,395,087.18. Following the transaction, the chief executive officer directly owned 175,458 shares in the company, valued at $6,191,912.82. This represents a 41.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Vassil sold 85,280 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $36.34, for a total transaction of $3,099,075.20. Following the transaction, the executive directly owned 69,966 shares in the company, valued at $2,542,564.44. This trade represents a 54.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 508,253 shares of company stock valued at $17,688,694. 10.03% of the stock is currently owned by corporate insiders.

Toast Stock Down 2.7%

NYSE TOST opened at $34.21 on Tuesday. Toast, Inc. has a 52 week low of $22.26 and a 52 week high of $45.64. The firm has a market capitalization of $17.58 billion, a price-to-earnings ratio of 43.86 and a beta of 1.72. The company has a fifty day moving average of $31.77 and a two-hundred day moving average of $28.36.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.87 billion. Toast had a return on equity of 23.90% and a net margin of 7.14%.The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 EPS. Equities research analysts anticipate that Toast, Inc. will post 1 EPS for the current year.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.