Ethic Inc. Raises Stock Holdings in Toast, Inc. $TOST

Ethic Inc. boosted its holdings in Toast, Inc. (NYSE:TOST) by 32.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,820 shares of the company’s stock after buying an additional 7,101 shares during the quarter. Ethic Inc.’s holdings in Toast were worth $1,265,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TOST. GAMMA Investing LLC grew its stake in shares of Toast by 38.7% during the 1st quarter. GAMMA Investing LLC now owns 3,861 shares of the company’s stock valued at $128,000 after purchasing an additional 1,077 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Toast by 14.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 26,106 shares of the company’s stock valued at $866,000 after purchasing an additional 3,355 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Toast by 17.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 15,418 shares of the company’s stock valued at $511,000 after acquiring an additional 2,294 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of Toast by 3.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 143,478 shares of the company’s stock valued at $4,759,000 after acquiring an additional 4,744 shares during the period. Finally, Bessemer Group Inc. grew its stake in shares of Toast by 14.7% during the 1st quarter. Bessemer Group Inc. now owns 35,499 shares of the company’s stock valued at $1,177,000 after acquiring an additional 4,554 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Activity at Toast

In related news, CEO Aman Narang sold 13,652 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $485,465.12. Following the sale, the chief executive officer owned 318,150 shares in the company, valued at approximately $11,313,414. This represents a 4.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Stephen Fredette sold 7,550 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $268,478.00. Following the sale, the president owned 898,475 shares in the company, valued at $31,949,771. The trade was a 0.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,196 shares of company stock worth $2,398,513 in the last ninety days. Corporate insiders own 12.14% of the company’s stock.

Analyst Upgrades and Downgrades

TOST has been the subject of a number of recent research reports. Keefe, Bruyette & Woods cut their price objective on Toast from $50.00 to $42.00 and set a “market perform” rating for the company in a research note on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft initiated coverage on Toast in a research note on Thursday, July 17th. They set a “buy” rating and a $54.00 price objective for the company. Wall Street Zen upgraded Toast from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Barclays reiterated an “overweight” rating on shares of Toast in a research note on Wednesday, July 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Toast in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.17.

Toast Price Performance

TOST stock opened at $38.32 on Monday. Toast, Inc. has a 1-year low of $28.12 and a 1-year high of $49.66. The company has a market capitalization of $19.54 billion, a price-to-earnings ratio of 112.71 and a beta of 1.94. The business has a 50 day simple moving average of $39.70 and a two-hundred day simple moving average of $41.25.

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