Ieq Capital LLC grew its position in shares of Toast, Inc. (NYSE:TOST – Get Rating) by 39.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,189 shares of the company’s stock after purchasing an additional 22,796 shares during the quarter. Ieq Capital LLC’s holdings in Toast were worth $1,357,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of TOST. Altimeter Capital Management LP increased its position in shares of Toast by 3,508.4% during the 1st quarter. Altimeter Capital Management LP now owns 18,041,796 shares of the company’s stock valued at $3,933,007,000 after purchasing an additional 17,541,796 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Toast during the 2nd quarter valued at about $52,118,000. State Street Corp boosted its holdings in Toast by 842.9% during the 2nd quarter. State Street Corp now owns 3,070,960 shares of the company’s stock valued at $39,738,000 after acquiring an additional 2,745,261 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in Toast during the 2nd quarter valued at about $29,142,000. Finally, Park West Asset Management LLC purchased a new stake in Toast during the 2nd quarter valued at about $21,242,000. 50.82% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
TOST has been the subject of several analyst reports. The Goldman Sachs Group dropped their target price on Toast from $23.00 to $19.00 and set a “neutral” rating for the company in a report on Monday, January 9th. Wells Fargo & Company increased their target price on Toast from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, November 11th. Piper Sandler dropped their target price on Toast from $26.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, January 9th. William Blair reiterated an “outperform” rating on shares of Toast in a report on Thursday, November 10th. Finally, KeyCorp increased their price objective on Toast from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, November 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.50.
Toast Price Performance
Toast (NYSE:TOST – Get Rating) last posted its earnings results on Thursday, November 10th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.03. The business had revenue of $752.00 million during the quarter, compared to analyst estimates of $714.61 million. Toast had a negative return on equity of 25.85% and a negative net margin of 6.99%. Analysts expect that Toast, Inc. will post -0.52 earnings per share for the current fiscal year.
Insider Transactions at Toast
In other news, CEO Christopher P. Comparato sold 33,333 shares of the firm’s stock in a transaction on Thursday, January 19th. The stock was sold at an average price of $19.43, for a total value of $647,660.19. Following the transaction, the chief executive officer now directly owns 171,063 shares in the company, valued at approximately $3,323,754.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Stephen Fredette sold 404,654 shares of Toast stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $18.82, for a total transaction of $7,615,588.28. Following the transaction, the insider now directly owns 3,912,132 shares in the company, valued at $73,626,324.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher P. Comparato sold 33,333 shares of Toast stock in a transaction on Thursday, January 19th. The shares were sold at an average price of $19.43, for a total value of $647,660.19. Following the transaction, the chief executive officer now owns 171,063 shares in the company, valued at $3,323,754.09. The disclosure for this sale can be found here. Insiders have sold a total of 9,356,016 shares of company stock worth $169,711,840 in the last ninety days. Insiders own 20.16% of the company’s stock.
Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.
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