Saudi Central Bank Acquires 15,905 Shares of Toast, Inc. $TOST

Saudi Central Bank lifted its holdings in Toast, Inc. (NYSE:TOST) by 93.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,013 shares of the company’s stock after acquiring an additional 15,905 shares during the period. Saudi Central Bank’s holdings in Toast were worth $918,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Odyssean LLC raised its stake in Toast by 144.1% during the 2nd quarter. Odyssean LLC now owns 119,775 shares of the company’s stock valued at $3,332,000 after purchasing an additional 70,700 shares during the period. BAM Wealth Management LLC grew its holdings in Toast by 23.2% during the 2nd quarter. BAM Wealth Management LLC now owns 15,098 shares of the company’s stock valued at $420,000 after buying an additional 2,844 shares in the last quarter. AXQ Capital LP purchased a new stake in Toast during the 2nd quarter valued at approximately $1,746,000. Nykredit A S bought a new stake in shares of Toast during the second quarter valued at approximately $5,270,000. Finally, Quantitative Investment Management LLC raised its position in shares of Toast by 120.1% during the second quarter. Quantitative Investment Management LLC now owns 63,823 shares of the company’s stock valued at $1,775,000 after buying an additional 34,831 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Down 2.7%

Toast stock opened at $32.40 on Thursday. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $42.15. The company has a market cap of $16.66 billion, a price-to-earnings ratio of 41.54 and a beta of 1.72. The firm’s fifty day moving average is $32.71 and its 200 day moving average is $28.66.

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

Insider Buying and Selling at Toast

In related news, CEO Aman Narang sold 119,843 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $35.38, for a total transaction of $4,240,045.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Vassil sold 14,280 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $33.90, for a total value of $484,092.00. Following the completion of the sale, the executive owned 69,966 shares of the company’s stock, valued at approximately $2,371,847.40. This represents a 16.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 522,533 shares of company stock worth $18,172,786 over the last ninety days. Company insiders own 10.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TOST shares. Zacks Research lowered shares of Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. The Goldman Sachs Group upgraded shares of Toast from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Thursday, July 9th. Jefferies Financial Group set a $40.00 price objective on shares of Toast in a report on Wednesday, August 5th. Wells Fargo & Company increased their price objective on shares of Toast from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, Barclays raised their price objective on Toast from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Sixteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.12.

About Toast

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other food-service businesses. Its platform combines point-of-sale hardware and software with tools for order management, payments, menu management, reporting and business operations.

The company also offers products and services that support employee management, payroll, inventory, scheduling, online ordering, delivery, gift cards, loyalty programs and guest engagement. Toast’s integrated approach is intended to help restaurants manage front-of-house and back-of-house activities through a single platform.

Toast was founded in 2011 and is headquartered in Boston, Massachusetts.