30,098 Shares in Toast, Inc. $TOST Bought by Talon Private Wealth LLC

Talon Private Wealth LLC acquired a new stake in shares of Toast, Inc. (NYSE:TOST) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,098 shares of the company’s stock, valued at approximately $837,000.

Several other institutional investors have also recently made changes to their positions in the company. Arkfeld Wealth Strategies L.L.C. increased its position in shares of Toast by 138.8% in the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 264,821 shares of the company’s stock valued at $7,807,000 after buying an additional 153,928 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Toast by 47.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 970,799 shares of the company’s stock worth $27,008,000 after purchasing an additional 312,077 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Toast by 1,925.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 985,653 shares of the company’s stock worth $35,001,000 after buying an additional 936,987 shares in the last quarter. Lavelle Capital LP acquired a new stake in Toast during the first quarter worth about $1,458,000. Finally, Quantitative Investment Management LLC increased its stake in Toast by 120.1% during the second quarter. Quantitative Investment Management LLC now owns 63,823 shares of the company’s stock worth $1,775,000 after acquiring an additional 34,831 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Stock Up 0.6%

TOST traded up $0.20 during trading on Friday, hitting $32.14. 6,699,794 shares of the stock were exchanged, compared to its average volume of 11,360,081. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $42.15. The stock has a fifty day moving average price of $32.77 and a two-hundred day moving average price of $28.70. The firm has a market capitalization of $16.52 billion, a P/E ratio of 41.21 and a beta of 1.72.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share 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 analyst estimates of $1.87 billion. Toast had a net margin of 7.14% and a return on equity of 23.90%. Toast’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 earnings per share. Analysts predict that Toast, Inc. will post 1 EPS for the current year.

Insider Activity at Toast

In other Toast news, CRO Jonathan Vassil sold 14,280 shares of Toast stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $33.90, for a total value of $484,092.00. Following the transaction, the executive directly owned 69,966 shares in the company, valued at approximately $2,371,847.40. The trade was a 16.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Elena Gomez sold 5,761 shares of Toast stock in a transaction on Monday, August 10th. The shares were sold at an average price of $35.37, for a total transaction of $203,766.57. Following the completion of the transaction, the chief financial officer owned 160,150 shares in the company, valued at approximately $5,664,505.50. This represents a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 522,533 shares of company stock worth $18,172,786 in the last 90 days. 10.03% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Piper Sandler raised their price target on Toast from $32.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Zacks Research lowered shares of Toast from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Sanford C. Bernstein boosted their price objective on shares of Toast from $39.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. DA Davidson upped their target price on shares of Toast from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Finally, BMO Capital Markets increased their target price on shares of Toast from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Sixteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $39.12.

Toast Profile

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.