Smith Group Asset Management LLC Buys Shares of 5,685 Toast, Inc. $TOST

Smith Group Asset Management LLC bought a new stake in shares of Toast, Inc. (NYSE:TOST) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 5,685 shares of the company’s stock, valued at approximately $252,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Toast by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company’s stock valued at $1,457,675,000 after acquiring an additional 1,471,352 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Toast by 17.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock valued at $777,978,000 after acquiring an additional 3,490,686 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Toast by 7.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company’s stock valued at $514,811,000 after acquiring an additional 1,082,958 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Toast by 2.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,755,872 shares of the company’s stock valued at $190,922,000 after acquiring an additional 160,088 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Toast by 14,258.8% during the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock valued at $181,587,000 after acquiring an additional 5,436,317 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on TOST shares. JPMorgan Chase & Co. upped their target price on shares of Toast from $42.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Weiss Ratings restated a “hold (c)” rating on shares of Toast in a research report on Wednesday, October 8th. Wells Fargo & Company upgraded shares of Toast to a “strong-buy” rating in a research report on Wednesday. Canaccord Genuity Group upped their price objective on shares of Toast from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Finally, Robert W. Baird lowered their price objective on shares of Toast from $48.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.30.

Toast Trading Up 1.9%

Shares of NYSE TOST opened at $38.85 on Friday. The firm has a market cap of $19.81 billion, a PE ratio of 114.26 and a beta of 1.94. Toast, Inc. has a 1-year low of $28.12 and a 1-year high of $49.66. The company has a fifty day moving average price of $39.79 and a 200 day moving average price of $41.06.

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

Insider Transactions at Toast

In related news, CRO Jonathan Vassil sold 6,530 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $232,206.80. Following the completion of the transaction, the executive directly owned 69,932 shares of the company’s stock, valued at approximately $2,486,781.92. This represents a 8.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul D. Bell sold 12,500 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $42.38, for a total transaction of $529,750.00. Following the completion of the transaction, the director directly owned 226,892 shares of the company’s stock, valued at approximately $9,615,682.96. The trade was a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,196 shares of company stock worth $2,398,513. Company insiders own 12.14% of the company’s stock.

Toast 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.