Westfield Capital Management Co. LP Buys 1,372,686 Shares of Toast, Inc. $TOST

Westfield Capital Management Co. LP raised its stake in Toast, Inc. (NYSE:TOST) by 596.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,602,654 shares of the company’s stock after purchasing an additional 1,372,686 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.31% of Toast worth $70,982,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Toast by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 44,411,722 shares of the company’s stock worth $1,966,995,000 after purchasing an additional 466,138 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Toast by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock worth $777,978,000 after buying an additional 3,490,686 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted 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 last quarter. Jennison Associates LLC grew its position in shares of Toast by 331.0% in the 2nd quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock valued at $380,978,000 after acquiring an additional 6,606,245 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Toast by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 7,902,519 shares of the company’s stock worth $348,906,000 after purchasing an additional 218,537 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analyst Ratings Changes

TOST has been the topic of a number of research reports. UBS Group decreased their price target on shares of Toast from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Robert W. Baird reduced their price target on Toast from $48.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. JPMorgan Chase & Co. lowered their price target on shares of Toast from $52.00 to $43.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Jefferies Financial Group cut their price objective on shares of Toast from $54.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Finally, Morgan Stanley increased their target price on shares of Toast from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Toast currently has an average rating of “Moderate Buy” and an average price target of $45.29.

Insider Buying and Selling at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 1,059 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total value of $37,636.86. Following the completion of the transaction, the general counsel directly owned 229,017 shares in the company, valued at approximately $8,139,264.18. This trade represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Stephen Fredette sold 1,732 shares of Toast stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total value of $61,555.28. Following the sale, the president directly owned 900,264 shares in the company, valued at $31,995,382.56. The trade was a 0.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 49,759 shares of company stock worth $1,769,270 over the last three months. 12.14% of the stock is owned by corporate insiders.

Toast Price Performance

NYSE TOST opened at $33.53 on Thursday. Toast, Inc. has a fifty-two week low of $28.12 and a fifty-two week high of $49.66. The business has a fifty day moving average price of $37.38 and a two-hundred day moving average price of $41.44. The stock has a market capitalization of $17.27 billion, a PE ratio of 78.43 and a beta of 1.94.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a return on equity of 15.77% and a net margin of 4.68%.The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the company posted $0.07 EPS. The firm’s revenue was up 25.1% compared to the same quarter last year. As a group, sell-side analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

About Toast

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.