Toast, Inc. $TOST Shares Sold by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp reduced its stake in shares of Toast, Inc. (NYSE:TOST) by 1.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 29,735 shares of the company’s stock after selling 361 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Toast were worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in TOST. Principal Financial Group Inc. grew its position in shares of Toast by 14,258.8% during the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock worth $181,587,000 after acquiring an additional 5,436,317 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Toast by 17.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock valued at $777,978,000 after purchasing an additional 3,490,686 shares during the period. 1832 Asset Management L.P. bought a new position in Toast in the 1st quarter worth about $86,650,000. HMI Capital Management L.P. grew its position in Toast by 57.7% in the 1st quarter. HMI Capital Management L.P. now owns 5,203,183 shares of the company’s stock worth $172,590,000 after purchasing an additional 1,904,040 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Toast in the first quarter valued at approximately $56,473,000. 82.91% of the stock is currently owned by institutional investors.

Toast Trading Up 1.4%

Shares of NYSE TOST opened at $36.09 on Friday. Toast, Inc. has a twelve month low of $26.91 and a twelve month high of $49.66. The firm has a 50-day moving average of $42.57 and a two-hundred day moving average of $40.76. The company has a market capitalization of $18.41 billion, a price-to-earnings ratio of 106.15 and a beta of 1.94.

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

Insider Buying and Selling

In other news, President Stephen Fredette sold 1,720 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $83,213.60. Following the completion of the sale, the president directly owned 890,818 shares of the company’s stock, valued at $43,097,774.84. This represents a 0.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul D. Bell sold 12,500 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $42.38, for a total value of $529,750.00. Following the completion of the transaction, the director owned 226,892 shares of the company’s stock, valued at $9,615,682.96. This trade represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,423 shares of company stock valued at $913,065 in the last three months. Insiders own 12.14% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on TOST. Wall Street Zen cut Toast from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. JPMorgan Chase & Co. increased their price target on Toast from $42.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Toast in a research note on Thursday, July 17th. They set a “buy” rating and a $54.00 price objective on the stock. Robert W. Baird set a $48.00 target price on shares of Toast in a research report on Monday, September 22nd. Finally, Barclays reissued an “overweight” rating on shares of Toast in a research note on Wednesday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Toast presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.30.

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.