Toast, Inc. (NYSE:TOST) Position Trimmed by Xn LP

Xn LP decreased its holdings in shares of Toast, Inc. (NYSE:TOST) by 3.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,874,002 shares of the company’s stock after selling 181,223 shares during the period. Toast accounts for 5.2% of Xn LP’s portfolio, making the stock its 10th largest position. Xn LP owned approximately 1.08% of Toast worth $125,603,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Whale Rock Capital Management LLC purchased a new stake in Toast during the 1st quarter valued at about $179,111,000. Norges Bank purchased a new stake in shares of Toast during the fourth quarter valued at approximately $76,699,000. Meritage Group LP bought a new stake in shares of Toast during the fourth quarter valued at approximately $70,270,000. Capital International Investors raised its holdings in Toast by 12.2% in the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after acquiring an additional 3,574,397 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Toast by 21.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after acquiring an additional 3,445,788 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TOST shares. JPMorgan Chase & Co. upped their target price on shares of Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group reissued a “buy” rating and issued a $29.00 target price on shares of Toast in a report on Thursday, September 12th. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $21.00 to $33.00 in a research report on Thursday, July 18th. Robert W. Baird downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $28.00 target price on the stock. in a report on Tuesday, May 21st. Finally, Bank of America boosted their target price on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Toast Price Performance

Shares of NYSE TOST opened at $26.75 on Wednesday. The company has a market cap of $12.12 billion, a P/E ratio of -53.50 and a beta of 1.75. The firm has a 50-day simple moving average of $24.93 and a two-hundred day simple moving average of $24.53. Toast, Inc. has a 1 year low of $13.77 and a 1 year high of $27.90.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Toast’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period last year, the company earned ($0.19) EPS. As a group, equities research analysts expect that Toast, Inc. will post -0.1 EPS for the current year.

Insider Transactions at Toast

In other news, President Stephen Fredette sold 101,574 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $25.73, for a total value of $2,613,499.02. Following the transaction, the president now directly owns 2,395,685 shares in the company, valued at $61,640,975.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, President Stephen Fredette sold 101,574 shares of Toast stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $25.73, for a total transaction of $2,613,499.02. Following the completion of the sale, the president now owns 2,395,685 shares of the company’s stock, valued at $61,640,975.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jonathan Vassil sold 1,541 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $36,984.00. Following the completion of the sale, the executive now owns 33,312 shares of the company’s stock, valued at approximately $799,488. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 651,612 shares of company stock worth $16,191,520. 13.32% of the stock is currently owned by insiders.

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.