20,158 Shares in Toast, Inc. $TOST Purchased by ProShare Advisors LLC

ProShare Advisors LLC purchased a new stake in shares of Toast, Inc. (NYSE:TOST) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 20,158 shares of the company’s stock, valued at approximately $584,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in shares of Toast by 36.0% in the first quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company’s stock worth $211,478,000 after buying an additional 2,111,009 shares during the last quarter. Junto Capital Management LP bought a new stake in shares of Toast during the 2nd quarter worth $54,320,000. Wellington Management Group LLP boosted its holdings in shares of Toast by 131.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,456,114 shares of the company’s stock worth $68,329,000 after buying an additional 1,397,021 shares during the period. Lead Edge Capital Management LLC bought a new stake in shares of Toast during the 1st quarter worth $34,632,000. Finally, Light Street Capital Management LLC acquired a new position in Toast in the 2nd quarter valued at $32,480,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Transactions at Toast

In other Toast news, President Stephen Fredette sold 9,368 shares of the firm’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $29.35, for a total value of $274,950.80. Following the sale, the president directly owned 941,692 shares in the company, valued at $27,638,660.20. This trade represents a 0.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Brian Elworthy sold 6,507 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $29.35, for a total transaction of $190,980.45. Following the completion of the sale, the general counsel owned 204,023 shares in the company, valued at $5,988,075.05. This represents a 3.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 209,730 shares of company stock worth $7,105,015. 10.03% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Truist Financial dropped their target price on shares of Toast from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, October 19th. DA Davidson boosted their target price on shares of Toast from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Evercore restated an “outperform” rating on shares of Toast in a report on Wednesday, August 5th. Citigroup raised their price target on Toast from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group set a $40.00 price objective on Toast in a research note on Wednesday, August 5th. Seventeen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.65.

Toast Trading Down 0.1%

TOST opened at $34.64 on Monday. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $38.64. The stock has a market capitalization of $17.98 billion, a price-to-earnings ratio of 38.06 and a beta of 1.74. The business has a 50 day moving average of $31.86 and a 200-day moving average of $29.41.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, November 3rd. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Toast had a return on equity of 26.39% and a net margin of 7.69%. The company’s revenue was up 21.3% compared to the same quarter last year. During the same period last year, the firm posted $0.16 EPS. Equities analysts predict that Toast, Inc. will post 1.00 EPS for the current year.

About Toast

Toast, Inc provides a cloud-based technology platform designed for restaurants. Its products combine point-of-sale software and hardware with payment processing, helping restaurants manage in-person transactions and day-to-day operations.

The platform includes tools for online ordering, delivery, marketing, customer loyalty, payroll, and team management, alongside features for managing menus and restaurant operations. Restaurants can use Toast’s products together or select services to fit their needs.

Founded in 2011 and headquartered in Boston, Toast serves restaurants in the United States and selected international markets.