Rhumbline Advisers Has $33.94 Million Stake in Toast, Inc. $TOST

Rhumbline Advisers grew its holdings in Toast, Inc. (NYSE:TOST) by 27.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 766,356 shares of the company’s stock after purchasing an additional 164,273 shares during the quarter. Rhumbline Advisers owned about 0.15% of Toast worth $33,942,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new stake in Toast in the 2nd quarter valued at approximately $31,000. REAP Financial Group LLC boosted its position in shares of Toast by 173.3% in the second quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock valued at $35,000 after acquiring an additional 506 shares during the period. Motco acquired a new stake in shares of Toast in the second quarter worth $44,000. Cullen Frost Bankers Inc. increased its position in Toast by 1,383.8% during the second quarter. Cullen Frost Bankers Inc. now owns 1,009 shares of the company’s stock worth $45,000 after acquiring an additional 941 shares during the period. Finally, Whipplewood Advisors LLC raised its stake in Toast by 2,356.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 1,007 shares of the company’s stock valued at $45,000 after purchasing an additional 966 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Trading Down 0.6%

Shares of TOST opened at $33.27 on Wednesday. The stock has a market cap of $17.13 billion, a PE ratio of 77.37 and a beta of 1.94. Toast, Inc. has a 1 year low of $28.12 and a 1 year high of $49.66. The stock has a 50 day simple moving average of $36.83 and a 200-day simple moving average of $41.37.

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

Insider Activity

In other Toast news, CEO Aman Narang sold 13,652 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $485,465.12. Following the transaction, the chief executive officer directly owned 318,150 shares in the company, valued at $11,313,414. The trade was a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Stephen Fredette sold 7,550 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $268,478.00. Following the sale, the president directly owned 898,475 shares in the company, valued at $31,949,771. This represents a 0.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 49,759 shares of company stock worth $1,769,270 over the last ninety days. Corporate insiders own 12.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Needham & Company LLC boosted their price objective on shares of Toast from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Wells Fargo & Company upgraded Toast to a “strong-buy” rating in a research note on Wednesday, October 22nd. Truist Financial cut their price target on Toast from $47.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Canaccord Genuity Group lifted their price objective on Toast from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Toast in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.29.

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.