Scholtz & Company LLC Takes $2.32 Million Position in Toast, Inc. $TOST

Scholtz & Company LLC purchased a new position in shares of Toast, Inc. (NYSE:TOST) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 83,417 shares of the company’s stock, valued at approximately $2,321,000. Toast accounts for about 1.2% of Scholtz & Company LLC’s holdings, making the stock its 28th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bayban acquired a new position in shares of Toast in the fourth quarter valued at approximately $25,000. SHP Wealth Management bought a new stake in Toast during the 4th quarter worth approximately $29,000. Strive Financial Group LLC acquired a new position in Toast in the 4th quarter valued at approximately $29,000. Ancora Advisors LLC bought a new position in shares of Toast during the second quarter valued at $31,000. Finally, Silicon Valley Capital Partners bought a new position in shares of Toast during the fourth quarter valued at $36,000. 82.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Elena Gomez sold 5,761 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $35.37, for a total transaction of $203,766.57. Following the transaction, the chief financial officer owned 160,150 shares in the company, valued at $5,664,505.50. The trade was a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 119,843 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $35.38, for a total transaction of $4,240,045.34. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 522,533 shares of company stock worth $18,172,786 in the last quarter. 10.03% of the stock is owned by corporate insiders.

Toast Price Performance

Shares of Toast stock opened at $32.40 on Thursday. Toast, Inc. has a one year low of $22.26 and a one year high of $42.15. The stock’s 50-day moving average is $32.71 and its 200 day moving average is $28.66. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 41.54 and a beta of 1.72.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%.The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, sell-side analysts expect that Toast, Inc. will post 1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TOST has been the topic of several analyst reports. Oppenheimer boosted their price objective on shares of Toast from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Barclays upped their price target on Toast from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Evercore reissued an “outperform” rating on shares of Toast in a research note on Wednesday, August 5th. Canaccord Genuity Group set a $40.00 price objective on Toast in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada upped their target price on Toast from $36.00 to $44.00 and gave the company a “sector perform” rating in a report on Monday, August 31st. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.12.

Toast Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other food-service businesses. Its platform combines point-of-sale hardware and software with tools for order management, payments, menu management, reporting and business operations.

The company also offers products and services that support employee management, payroll, inventory, scheduling, online ordering, delivery, gift cards, loyalty programs and guest engagement. Toast’s integrated approach is intended to help restaurants manage front-of-house and back-of-house activities through a single platform.

Toast was founded in 2011 and is headquartered in Boston, Massachusetts.