QRG Capital Management Inc. Has $4.70 Million Stock Position in Toast, Inc. $TOST

QRG Capital Management Inc. increased its holdings in shares of Toast, Inc. (NYSE:TOST) by 4.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 106,045 shares of the company’s stock after acquiring an additional 4,129 shares during the period. QRG Capital Management Inc.’s holdings in Toast were worth $4,697,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Toast by 3.5% during the first quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company’s stock worth $1,457,675,000 after purchasing an additional 1,471,352 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Toast by 17.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock valued at $777,978,000 after acquiring an additional 3,490,686 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in Toast by 7.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company’s stock valued at $514,811,000 after acquiring an additional 1,082,958 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in Toast by 2.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,755,872 shares of the company’s stock valued at $190,922,000 after acquiring an additional 160,088 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Toast by 14,258.8% in the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock valued at $181,587,000 after acquiring an additional 5,436,317 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Transactions at Toast

In other Toast news, President Stephen Fredette sold 7,550 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $268,478.00. Following the sale, the president directly owned 898,475 shares in the company, valued at $31,949,771. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Aman Narang sold 13,652 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $485,465.12. Following the completion of the sale, the chief executive officer owned 318,150 shares in the company, valued at approximately $11,313,414. The trade was a 4.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,196 shares of company stock valued at $2,398,513. 12.14% of the stock is currently owned by insiders.

Toast Trading Up 1.3%

Shares of Toast stock opened at $36.58 on Monday. The business’s fifty day simple moving average is $42.32 and its 200 day simple moving average is $40.85. The firm has a market capitalization of $18.66 billion, a P/E ratio of 107.60 and a beta of 1.94. Toast, Inc. has a 12 month low of $27.65 and a 12 month high of $49.66.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 earnings per share. Analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

TOST has been the subject of a number of research reports. Citigroup reissued a “buy” rating on shares of Toast in a research note on Wednesday, July 16th. Robert W. Baird set a $48.00 target price on Toast in a research report on Monday, September 22nd. JPMorgan Chase & Co. lifted their target price on Toast from $42.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Wall Street Zen raised Toast from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Jefferies Financial Group lifted their target price on Toast from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Fifteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $46.30.

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.