Toast, Inc. $TOST Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in shares of Toast, Inc. (NYSE:TOST) by 2.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,902,519 shares of the company’s stock after buying an additional 218,537 shares during the quarter. Geode Capital Management LLC’s holdings in Toast were worth $348,906,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TOST. IFM Investors Pty Ltd boosted its position in shares of Toast by 29.2% during the 2nd quarter. IFM Investors Pty Ltd now owns 83,803 shares of the company’s stock worth $3,712,000 after purchasing an additional 18,950 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new stake in shares of Toast in the second quarter valued at about $1,329,000. Charles Schwab Investment Management Inc. boosted its holdings in Toast by 5.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,092,210 shares of the company’s stock worth $102,569,000 after buying an additional 153,723 shares in the last quarter. Comerica Bank grew its position in Toast by 122.9% during the first quarter. Comerica Bank now owns 76,644 shares of the company’s stock worth $2,542,000 after buying an additional 42,266 shares during the period. Finally, Graham Capital Management L.P. grew its position in Toast by 373.5% during the first quarter. Graham Capital Management L.P. now owns 43,778 shares of the company’s stock worth $1,452,000 after buying an additional 34,532 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. DA Davidson set a $42.00 price target on shares of Toast in a research report on Wednesday, November 5th. Citigroup raised Toast to a “strong-buy” rating in a report on Thursday, October 23rd. The Goldman Sachs Group decreased their target price on Toast from $51.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Robert W. Baird dropped their price target on Toast from $48.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Finally, Truist Financial cut their price target on Toast from $47.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.45.

Toast Stock Down 2.4%

Shares of NYSE:TOST opened at $35.82 on Friday. The company has a market capitalization of $18.45 billion, a P/E ratio of 83.30 and a beta of 1.94. Toast, Inc. has a 52-week low of $28.12 and a 52-week high of $49.66. The stock’s fifty day simple moving average is $37.78 and its 200-day simple moving average is $41.48.

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

Insiders Place Their Bets

In other Toast news, Director Paul D. Bell sold 12,500 shares of Toast stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $42.38, for a total value of $529,750.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elena Gomez sold 9,054 shares of the business’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 $321,960.24. Following the completion of the transaction, the chief financial officer owned 149,572 shares of the company’s stock, valued at $5,318,780.32. This trade represents a 5.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 62,259 shares of company stock valued at $2,299,020. 12.14% of the stock is currently owned by insiders.

About Toast

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.