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

Key Points

• Junto Capital Management LP made a new investment of approximately $19.18 million in Toast, Inc., acquiring 578,260 shares, which represents about 0.12% of the company.
• Institutional investors currently own 82.91% of Toast's stock, with several firms, including Baird Financial Group and Vident Advisory, increasing their stakes significantly in the first quarter.
• Toast's stock has been rated favorably by analysts, with multiple price target increases, resulting in an average target of $45.54 and a "Moderate Buy" consensus rating.

Junto Capital Management LP bought a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 578,260 shares of the company's stock, valued at approximately $19,181,000. Junto Capital Management LP owned about 0.12% of Toast at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wayfinding Financial LLC purchased a new stake in Toast in the first quarter worth about $34,000. Piscataqua Savings Bank increased its holdings in shares of Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after acquiring an additional 400 shares in the last quarter. West Branch Capital LLC increased its holdings in shares of Toast by 862.1% during the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after acquiring an additional 1,000 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Toast by 29.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after acquiring an additional 284 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Toast by 227.1% during the first quarter. Signaturefd LLC now owns 1,472 shares of the company's stock worth $49,000 after purchasing an additional 1,022 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Toast Price Performance

NYSE:TOST traded down $1.24 during trading hours on Thursday, reaching $41.21. The company had a trading volume of 4,514,313 shares, compared to its average volume of 7,334,409. Toast, Inc. has a 1-year low of $22.91 and a 1-year high of $49.66. The firm has a market cap of $21.02 billion, a PE ratio of 121.30 and a beta of 2.00. The business's 50 day moving average price is $44.97 and its 200-day moving average price is $40.39.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.10). Toast had a net margin of 4.07% and a return on equity of 14.19%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the firm posted $0.02 earnings per share. The company's revenue was up 24.8% compared to the same quarter last year. On average, analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TOST. Keefe, Bruyette & Woods lifted their target price on Toast from $47.00 to $50.00 and gave the stock a "market perform" rating in a report on Wednesday, August 6th. BMO Capital Markets lifted their target price on Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Truist Financial lifted their target price on Toast from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. The Goldman Sachs Group lifted their target price on Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Finally, Jefferies Financial Group lifted their target price on Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Fifteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, Toast currently has a consensus rating of "Moderate Buy" and an average price target of $45.54.

Insider Buying and Selling

In other Toast news, CFO Elena Gomez sold 2,006 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $48.38, for a total transaction of $97,050.28. Following the completion of the transaction, the chief financial officer directly owned 141,263 shares in the company, valued at approximately $6,834,303.94. This represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Jonathan Vassil sold 1,427 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 $69,038.26. Following the transaction, the executive owned 63,298 shares of the company's stock, valued at $3,062,357.24. This represents a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 105,554 shares of company stock worth $4,553,686 in the last 90 days. 12.14% of the stock is owned by insiders.

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.