Toast, Inc. $TOST Stake Increased by Royal Fund Management LLC

Royal Fund Management LLC lifted its stake in Toast, Inc. (NYSE:TOST) by 41.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 64,600 shares of the company’s stock after purchasing an additional 18,800 shares during the quarter. Royal Fund Management LLC’s holdings in Toast were worth $1,873,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Crossmark Global Holdings Inc. bought a new stake in shares of Toast during the 3rd quarter worth approximately $455,000. Louisbourg Investments Inc. bought a new stake in Toast during the 3rd quarter worth $6,401,000. Net Worth Advisory Group acquired a new position in shares of Toast in the third quarter valued at approximately $222,000. Arkfeld Wealth Strategies L.L.C. increased its position in Toast by 38.2% in the 3rd quarter. Arkfeld Wealth Strategies L.L.C. now owns 366,047 shares of the company’s stock valued at $11,183,000 after acquiring an additional 101,226 shares during the period. Finally, Brindle & Bay Financial Advisors LLC bought a new position in Toast during the 3rd quarter worth $204,000. Institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In other news, CFO Elena Gomez sold 16,176 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $35.29, for a total transaction of $570,851.04. Following the completion of the transaction, the chief financial officer directly owned 168,974 shares in the company, valued at $5,963,092.46. The trade was a 8.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Vassil sold 85,280 shares of the business’s stock in a transaction dated 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 transaction, the executive owned 69,966 shares of the company’s stock, valued at approximately $2,542,564.44. The trade was 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 sold a total of 534,830 shares of company stock valued at $18,566,600 in the last three months. Company insiders own 10.03% of the company’s stock.

Toast Stock Performance

Toast stock traded down $0.71 during mid-day trading on Friday, reaching $32.71. The company’s stock had a trading volume of 5,281,663 shares, compared to its average volume of 8,082,986. Toast, Inc. has a 12-month low of $22.26 and a 12-month high of $39.72. The firm’s fifty day moving average price is $32.35 and its two-hundred day moving average price is $29.43. The company has a market capitalization of $16.81 billion, a P/E ratio of 41.94 and a beta of 1.74.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). Toast had a net margin of 7.14% and a return on equity of 23.90%. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the firm posted $0.13 earnings per share. Toast’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, research analysts predict that Toast, Inc. will post 1.00 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TOST shares. DA Davidson boosted their price target on shares of Toast from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Citigroup raised their price objective on Toast from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings raised Toast from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Robert W. Baird raised their price objective on Toast from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Finally, Canaccord Genuity Group set a $40.00 target price on Toast in a research note on Wednesday, August 5th. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.11.

Toast Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants. Its integrated system combines point-of-sale software and hardware with payment processing, helping restaurants manage sales, orders, menus, guest interactions and day-to-day operations from a unified platform.

The company offers products and services including online ordering, delivery management, digital ordering and payment tools, restaurant websites, gift cards, loyalty programs, marketing, labor management, payroll, inventory management, reporting and analytics.