Capital Group Private Client Services Inc. Takes $18.46 Million Position in Toast, Inc. (NYSE:TOST)

Capital Group Private Client Services Inc. acquired a new stake in shares of Toast, Inc. (NYSE:TOST) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 740,735 shares of the company’s stock, valued at approximately $18,459,000.

Other hedge funds have also made changes to their positions in the company. Harbor Investment Advisory LLC acquired a new stake in shares of Toast in the 1st quarter valued at about $37,000. Principal Securities Inc. acquired a new stake in Toast during the fourth quarter valued at approximately $30,000. Cape Investment Advisory Inc. acquired a new stake in Toast during the fourth quarter valued at approximately $31,000. Baystate Wealth Management LLC lifted its holdings in Toast by 58.2% during the 4th quarter. Baystate Wealth Management LLC now owns 2,435 shares of the company’s stock worth $44,000 after buying an additional 896 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Toast by 487.7% in the 1st quarter. Covestor Ltd now owns 3,003 shares of the company’s stock worth $75,000 after acquiring an additional 2,492 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Transactions at Toast

In other Toast news, CEO Aman Narang sold 6,355 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total value of $162,942.20. Following the transaction, the chief executive officer now owns 1,131,043 shares of the company’s stock, valued at $28,999,942.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Aman Narang sold 6,355 shares of Toast stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total value of $162,942.20. Following the transaction, the chief executive officer now owns 1,131,043 shares of the company’s stock, valued at approximately $28,999,942.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Brian R. Elworthy sold 2,573 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $25.64, for a total value of $65,971.72. Following the sale, the general counsel now owns 170,531 shares in the company, valued at approximately $4,372,414.84. The disclosure for this sale can be found here. Insiders have sold 368,455 shares of company stock valued at $9,410,466 in the last quarter. Insiders own 13.32% of the company’s stock.

Toast Price Performance

Shares of NYSE TOST traded up $0.70 during mid-day trading on Friday, reaching $25.69. 5,996,883 shares of the company traded hands, compared to its average volume of 7,915,727. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $27.90. The firm has a market cap of $11.64 billion, a PE ratio of -51.38 and a beta of 1.76. The stock has a fifty day simple moving average of $24.91 and a 200-day simple moving average of $23.05.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, hitting analysts’ consensus estimates of ($0.15). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The company’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.16) EPS. As a group, analysts predict that Toast, Inc. will post -0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Piper Sandler raised their price objective on Toast from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Wells Fargo & Company raised their price target on shares of Toast from $17.00 to $19.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 8th. Wedbush reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Toast in a research report on Thursday, May 30th. Stephens reiterated an “equal weight” rating and set a $28.00 price objective on shares of Toast in a research note on Thursday, May 30th. Finally, The Goldman Sachs Group lifted their target price on Toast from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.65.

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.