Freedom Investment Management Inc. Has $282,000 Position in Toast, Inc. $TOST

Freedom Investment Management Inc. reduced its holdings in Toast, Inc. (NYSE:TOST) by 13.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,376 shares of the company’s stock after selling 1,024 shares during the quarter. Freedom Investment Management Inc.’s holdings in Toast were worth $282,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. IFM Investors Pty Ltd lifted its holdings in Toast by 29.2% in the second quarter. IFM Investors Pty Ltd now owns 83,803 shares of the company’s stock valued at $3,712,000 after buying an additional 18,950 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Toast by 5.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,092,210 shares of the company’s stock valued at $102,569,000 after buying an additional 153,723 shares during the period. Principal Financial Group Inc. lifted its holdings 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 buying an additional 5,436,317 shares during the period. Comerica Bank increased its stake in Toast by 122.9% in the first quarter. Comerica Bank now owns 76,644 shares of the company’s stock valued at $2,542,000 after purchasing an additional 42,266 shares in the last quarter. Finally, Graham Capital Management L.P. increased its stake in Toast by 373.5% in the first quarter. Graham Capital Management L.P. now owns 43,778 shares of the company’s stock valued at $1,452,000 after purchasing an additional 34,532 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TOST shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a research note on Friday. Keefe, Bruyette & Woods lowered their target price on shares of Toast from $50.00 to $42.00 and set a “market perform” rating for the company in a research note on Wednesday, October 1st. Canaccord Genuity Group upped their target price on shares of Toast from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. DA Davidson upped their target price on shares of Toast from $40.00 to $46.00 and gave the company a “neutral” rating in a research note on Tuesday, July 29th. Finally, Truist Financial set a $47.00 target price on shares of Toast in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.17.

Insiders Place Their Bets

In related news, CEO Aman Narang sold 13,652 shares of the firm’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 transaction, the chief executive officer owned 318,150 shares of the company’s stock, valued at approximately $11,313,414. This trade represents a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jonathan Vassil sold 6,530 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $232,206.80. Following the completion of the transaction, the executive directly owned 69,932 shares of the company’s stock, valued at approximately $2,486,781.92. This trade represents a 8.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,196 shares of company stock valued at $2,398,513 in the last quarter. Company insiders own 12.14% of the company’s stock.

Toast Stock Down 1.2%

Shares of TOST stock opened at $38.32 on Monday. The firm has a fifty day moving average of $39.70 and a 200-day moving average of $41.25. Toast, Inc. has a 12-month low of $28.12 and a 12-month 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.

Toast (NYSE:TOST) last issued its quarterly earnings data 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). Toast had a return on equity of 14.19% and a net margin of 4.07%.The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the company earned $0.02 EPS. The firm’s revenue was up 24.8% on a year-over-year basis. On average, equities analysts expect that Toast, Inc. will post 0.39 EPS for the current 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.