Strs Ohio Boosts Stake in Toast, Inc. $TOST

Strs Ohio grew its position in shares of Toast, Inc. (NYSE:TOST) by 108.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 57,848 shares of the company’s stock after acquiring an additional 30,113 shares during the period. Strs Ohio’s holdings in Toast were worth $2,562,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Roundview Capital LLC grew its stake in shares of Toast by 0.6% in the 2nd quarter. Roundview Capital LLC now owns 43,619 shares of the company’s stock worth $1,932,000 after buying an additional 245 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Toast by 7.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,139 shares of the company’s stock worth $183,000 after buying an additional 278 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Toast by 29.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock worth $42,000 after buying an additional 284 shares during the last quarter. True Vision MN LLC grew its stake in shares of Toast by 3.6% in the 2nd quarter. True Vision MN LLC now owns 8,186 shares of the company’s stock worth $363,000 after buying an additional 285 shares during the last quarter. Finally, Stonekeep Investments LLC grew its stake in shares of Toast by 4.0% in the 1st quarter. Stonekeep Investments LLC now owns 7,791 shares of the company’s stock worth $258,000 after buying an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on TOST. JPMorgan Chase & Co. upped their price target on Toast from $42.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. DA Davidson upped their price objective on Toast from $40.00 to $46.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. Canaccord Genuity Group upped their price objective on Toast from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a research report on Wednesday, October 8th. Finally, Needham & Company LLC upped their price objective on Toast from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.17.

Toast Price Performance

NYSE TOST opened at $35.65 on Tuesday. The business’s fifty day moving average price is $38.92 and its 200-day moving average price is $41.39. The stock has a market capitalization of $18.18 billion, a price-to-earnings ratio of 104.85 and a beta of 1.94. Toast, Inc. has a 1-year low of $28.12 and a 1-year high of $49.66.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. Toast’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 earnings per share. Equities research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Insider Activity

In other news, President Stephen Fredette sold 7,550 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $268,478.00. Following the transaction, the president directly owned 898,475 shares of the company’s stock, valued at $31,949,771. This represents a 0.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Elena Gomez sold 9,054 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $321,960.24. Following the transaction, the chief financial officer directly owned 149,572 shares in the company, valued at $5,318,780.32. The trade was a 5.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 54,273 shares of company stock worth $2,015,198. Insiders own 12.14% of the company’s stock.

Toast Company Profile

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.