Truist Financial Corp Takes Position in Toast, Inc. (NYSE:TOST)

Truist Financial Corp purchased a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,990 shares of the company's stock, valued at approximately $618,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in Toast in the first quarter valued at about $27,000. West Branch Capital LLC purchased a new position in Toast in the second quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Toast in the second quarter valued at about $33,000. 1620 Investment Advisors Inc. purchased a new position in Toast in the second quarter valued at about $34,000. Finally, Harbor Investment Advisory LLC purchased a new position in Toast in the first quarter valued at about $37,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Trading Up 1.0 %

TOST stock traded up $0.30 during mid-day trading on Wednesday, reaching $29.03. 4,219,857 shares of the stock traded hands, compared to its average volume of 7,202,791. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $29.92. The stock's fifty day moving average is $25.88 and its 200-day moving average is $25.05. The company has a market cap of $13.15 billion, a P/E ratio of -58.06 and a beta of 1.76.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The company's quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.19) EPS. Equities research analysts expect that Toast, Inc. will post -0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TOST shares. JPMorgan Chase & Co. increased their target price on Toast from $25.00 to $28.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Wedbush raised Toast to a "strong-buy" rating in a report on Friday, September 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $27.00 target price on shares of Toast in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 target price on shares of Toast in a report on Wednesday, August 7th. Finally, Mizuho raised Toast from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $21.00 to $33.00 in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Toast currently has an average rating of "Moderate Buy" and a consensus target price of $28.67.

Insider Activity at Toast

In other Toast news, CEO Aman Narang sold 1,856 shares of the business's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $44,544.00. Following the transaction, the chief executive officer now owns 1,132,708 shares in the company, valued at $27,184,992. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, President Stephen Fredette sold 39,768 shares of the company's stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $29.02, for a total transaction of $1,154,067.36. Following the completion of the sale, the president now directly owns 1,795,301 shares of the company's stock, valued at approximately $52,099,635.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Aman Narang sold 1,856 shares of the business's stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $44,544.00. Following the transaction, the chief executive officer now directly owns 1,132,708 shares of the company's stock, valued at approximately $27,184,992. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 840,562 shares of company stock valued at $21,982,459. Corporate insiders own 13.32% of the company's stock.

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.