Commonwealth Equity Services LLC Purchases 40,984 Shares of Toast, Inc. $TOST

Commonwealth Equity Services LLC boosted its position in Toast, Inc. (NYSE:TOST) by 32.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 168,793 shares of the company’s stock after purchasing an additional 40,984 shares during the period. Commonwealth Equity Services LLC’s holdings in Toast were worth $6,163,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC increased its holdings in shares of Toast by 331.0% during the 2nd quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock worth $380,978,000 after acquiring an additional 6,606,245 shares during the last quarter. Norges Bank acquired a new position in Toast in the 2nd quarter valued at about $219,324,000. Marshall Wace LLP raised its holdings in Toast by 108.3% in the 2nd quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock valued at $349,333,000 after acquiring an additional 4,100,104 shares during the period. 1832 Asset Management L.P. lifted its position in Toast by 65.1% during the second quarter. 1832 Asset Management L.P. now owns 4,314,200 shares of the company’s stock worth $191,076,000 after acquiring an additional 1,701,900 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in Toast by 59.7% during the second quarter. Federated Hermes Inc. now owns 4,024,942 shares of the company’s stock worth $178,265,000 after acquiring an additional 1,504,507 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Price Performance

NYSE TOST opened at $35.68 on Thursday. Toast, Inc. has a fifty-two week low of $28.12 and a fifty-two week high of $49.66. The business has a fifty day moving average price of $35.41 and a two-hundred day moving average price of $39.47. The stock has a market capitalization of $18.37 billion, a PE ratio of 82.97 and a beta of 1.93.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.08). The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. Toast had a net margin of 4.68% and a return on equity of 15.77%. The business’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period last year, the business earned $0.07 earnings per share. As a group, sell-side analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Transactions at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 3,303 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $113,557.14. Following the sale, the general counsel owned 235,757 shares of the company’s stock, valued at approximately $8,105,325.66. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Jonathan Vassil sold 4,787 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total value of $164,577.06. Following the sale, the executive directly owned 79,802 shares in the company, valued at approximately $2,743,592.76. This trade represents a 5.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 102,595 shares of company stock valued at $3,634,737. Corporate insiders own 12.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TOST shares. Jefferies Financial Group lowered their target price on Toast from $54.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Wolfe Research downgraded Toast from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Morgan Stanley raised their price target on shares of Toast from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. raised shares of Toast from a “neutral” rating to an “overweight” rating and set a $43.00 price objective for the company in a report on Thursday, December 4th. Finally, The Goldman Sachs Group lowered their target price on shares of Toast from $51.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Toast currently has an average rating of “Moderate Buy” and a consensus price target of $45.27.

Toast Profile

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.