Ballentine Partners LLC Takes Position in Toast, Inc. (NYSE:TOST)

Ballentine Partners LLC bought a new stake in Toast, Inc. (NYSE:TOST) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,320 shares of the company’s stock, valued at approximately $207,000.

A number of other large investors also recently made changes to their positions in TOST. Whale Rock Capital Management LLC acquired a new position in shares of Toast in the 1st quarter valued at about $179,111,000. Assenagon Asset Management S.A. increased its holdings in Toast by 2,889.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock worth $108,427,000 after buying an additional 3,701,893 shares during the last quarter. Capital International Investors increased its holdings in Toast by 12.2% in the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after buying an additional 3,574,397 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Toast by 21.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after buying an additional 3,445,788 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in Toast by 175.8% in the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock worth $64,871,000 after buying an additional 1,604,716 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Trading Down 0.3 %

TOST opened at $30.03 on Wednesday. The business has a 50 day moving average of $26.86 and a 200-day moving average of $25.44. The stock has a market capitalization of $13.84 billion, a price-to-earnings ratio of -103.55 and a beta of 1.76. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $30.78.

Toast (NYSE:TOST) last issued 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. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. Toast’s revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.19) earnings per share. Equities analysts predict that Toast, Inc. will post -0.1 EPS for the current year.

Insider Activity at Toast

In related news, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the transaction, the president now directly owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Toast news, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the completion of the transaction, the general counsel now directly owns 177,836 shares in the company, valued at $5,404,436.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Stephen Fredette sold 211,686 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the transaction, the president now owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,387,269 shares of company stock worth $38,394,140. 13.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TOST shares. Wedbush upgraded Toast to a “strong-buy” rating in a report on Friday, September 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $27.00 price objective on shares of Toast in a report on Wednesday, August 7th. Bank of America upped their target price on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. DA Davidson upped their target price on Toast from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Robert W. Baird upped their target price on Toast from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.26.

Toast Company 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.