Junto Capital Management LP Acquires New Position in Toast, Inc. $TOST

Junto Capital Management LP acquired a new stake in shares of Toast, Inc. (NYSE:TOST) in the second quarter, HoldingsChannel.com reports. The firm acquired 1,952,539 shares of the company’s stock, valued at approximately $54,320,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC increased its position in shares of Toast by 1,555.5% during the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock valued at $578,000 after acquiring an additional 16,379 shares in the last quarter. Cerity Partners LLC boosted its stake in Toast by 24.0% during the 2nd quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock valued at $3,613,000 after purchasing an additional 15,774 shares during the last quarter. State Street Corp increased its holdings in shares of Toast by 2.7% in the 2nd quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after purchasing an additional 245,276 shares in the last quarter. Frontier Capital Management Co. LLC bought a new stake in shares of Toast in the 2nd quarter worth $4,479,000. Finally, Sei Investments Co. raised its stake in shares of Toast by 24.6% in the second quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock worth $45,619,000 after purchasing an additional 203,404 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Price Performance

NYSE TOST opened at $32.40 on Thursday. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 41.54 and a beta of 1.72. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $42.15. The business’s fifty day moving average price is $32.71 and its 200-day moving average price is $28.66.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Toast had a net margin of 7.14% and a return on equity of 23.90%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the company posted $0.13 EPS. The firm’s revenue was up 23.1% compared to the same quarter last year. Equities research analysts anticipate that Toast, Inc. will post 1 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TOST shares. Sanford C. Bernstein upped their price target on Toast from $39.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Keefe, Bruyette & Woods lifted their price objective on Toast from $30.00 to $35.00 and gave the stock a “market perform” rating in a report on Wednesday, August 5th. Barclays boosted their target price on Toast from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Oppenheimer upped their target price on shares of Toast from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, Evercore reaffirmed an “outperform” rating on shares of Toast in a report on Wednesday, August 5th. Sixteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Toast presently has an average rating of “Moderate Buy” and a consensus target price of $39.12.

Insider Buying and Selling

In related news, CRO Jonathan Vassil sold 85,280 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $36.34, for a total value of $3,099,075.20. Following the transaction, the executive owned 69,966 shares of the company’s stock, valued at approximately $2,542,564.44. This trade represents a 54.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Elena Gomez sold 16,176 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $35.29, for a total transaction of $570,851.04. Following the sale, the chief financial officer owned 168,974 shares of the company’s stock, valued at $5,963,092.46. This trade represents a 8.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 522,533 shares of company stock valued at $18,172,786. 10.03% of the stock is owned by insiders.

About Toast

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other food-service businesses. Its platform combines point-of-sale hardware and software with tools for order management, payments, menu management, reporting and business operations.

The company also offers products and services that support employee management, payroll, inventory, scheduling, online ordering, delivery, gift cards, loyalty programs and guest engagement. Toast’s integrated approach is intended to help restaurants manage front-of-house and back-of-house activities through a single platform.

Toast was founded in 2011 and is headquartered in Boston, Massachusetts.