Odyssean LLC Acquires 70,700 Shares of Toast, Inc. $TOST

Odyssean LLC grew its holdings in shares of Toast, Inc. (NYSE:TOST) by 144.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,775 shares of the company’s stock after buying an additional 70,700 shares during the quarter. Toast accounts for approximately 0.5% of Odyssean LLC’s holdings, making the stock its 13th biggest holding. Odyssean LLC’s holdings in Toast were worth $3,332,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. NewEdge Advisors LLC grew its position in Toast by 1,555.5% in the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after acquiring an additional 16,379 shares in the last quarter. Cerity Partners LLC raised its position in Toast by 24.0% during the second quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock valued at $3,613,000 after purchasing an additional 15,774 shares during the period. State Street Corp raised its position in Toast by 2.7% during the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock valued at $408,039,000 after purchasing an additional 245,276 shares during the period. Frontier Capital Management Co. LLC bought a new stake in shares of Toast in the 2nd quarter valued at approximately $4,479,000. Finally, Sei Investments Co. lifted its stake in shares of Toast by 24.6% in the 2nd quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock valued at $45,619,000 after purchasing an additional 203,404 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TOST. Piper Sandler lifted their target price on Toast from $32.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Needham & Company LLC increased their price target on Toast from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. BMO Capital Markets raised their price target on Toast from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Evercore reaffirmed an “outperform” rating on shares of Toast in a research note on Wednesday, August 5th. Finally, DA Davidson boosted their price objective on shares of Toast from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Seventeen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Insiders Place Their Bets

In other Toast news, CEO Aman Narang sold 124,542 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $35.29, for a total value of $4,395,087.18. Following the sale, the chief executive officer owned 175,458 shares in the company, valued at $6,191,912.82. This trade represents a 41.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Vassil sold 85,280 shares of Toast stock in a transaction on Friday, August 21st. The stock was sold at an average price of $36.34, for a total value of $3,099,075.20. Following the sale, the executive owned 69,966 shares of the company’s stock, valued at approximately $2,542,564.44. This trade represents a 54.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 616,253 shares of company stock worth $20,484,814 in the last 90 days. 10.03% of the stock is owned by insiders.

Toast Price Performance

Shares of NYSE TOST opened at $36.81 on Wednesday. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $45.64. The firm has a 50-day simple moving average of $30.90 and a two-hundred day simple moving average of $28.16. The company has a market cap of $18.92 billion, a P/E ratio of 47.19 and a beta of 1.72.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Toast had a net margin of 7.14% and a return on equity of 23.90%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the company posted $0.13 EPS. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. As a group, equities research analysts expect that Toast, Inc. will post 1 EPS for the current year.

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.