Toast, Inc. (NYSE:TOST) Stock Holdings Trimmed by Capital Impact Advisors LLC

Capital Impact Advisors LLC trimmed its holdings in shares of Toast, Inc. (NYSE:TOST) by 50.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,723 shares of the company’s stock after selling 40,779 shares during the quarter. Toast accounts for about 2.9% of Capital Impact Advisors LLC’s portfolio, making the stock its 4th largest position. Capital Impact Advisors LLC’s holdings in Toast were worth $1,024,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TOST. Northwestern Mutual Wealth Management Co. grew its stake in Toast by 1.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock valued at $927,000 after purchasing an additional 421 shares during the last quarter. Ascent Group LLC purchased a new stake in Toast during the 2nd quarter valued at about $333,000. Scientech Research LLC purchased a new stake in Toast during the 2nd quarter valued at about $236,000. Makena Capital Management LLC purchased a new stake in Toast during the 2nd quarter valued at about $6,572,000. Finally, The Manufacturers Life Insurance Company grew its stake in Toast by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 97,883 shares of the company’s stock valued at $2,522,000 after purchasing an additional 8,186 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 211,686 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the transaction, the president now owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Christopher P. Comparato sold 100,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $24.35, for a total value of $2,435,000.00. Following the completion of the sale, the director now owns 120,107 shares of the company’s stock, valued at $2,924,605.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Stephen Fredette sold 211,686 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the sale, the president now directly owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. The disclosure for this sale can be found here. Insiders sold 792,207 shares of company stock valued at $20,064,469 over the last quarter. 13.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TOST. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $21.00 to $33.00 in a research note on Thursday, July 18th. Bank of America boosted their price target on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. boosted their price target on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $27.00 target price on shares of Toast in a research note on Wednesday, August 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of Toast in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

Toast Trading Up 2.5 %

Shares of TOST stock opened at $28.00 on Monday. The company has a market capitalization of $12.68 billion, a P/E ratio of -56.00 and a beta of 1.75. The business’s 50 day moving average is $25.17 and its two-hundred day moving average is $24.68. Toast, Inc. has a 12-month low of $13.77 and a 12-month high of $29.92.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. The business’s revenue was up 27.0% compared to the same quarter last year. On average, research analysts predict that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

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.