Toast, Inc. (NYSE:TOST) Shares Sold by Qsemble Capital Management LP

Qsemble Capital Management LP reduced its stake in shares of Toast, Inc. (NYSE:TOST) by 37.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,565 shares of the company’s stock after selling 26,190 shares during the period. Qsemble Capital Management LP’s holdings in Toast were worth $1,148,000 as of its most recent SEC filing.

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

Toast Stock Up 4.3 %

Toast stock opened at $26.08 on Friday. Toast, Inc. has a twelve month low of $13.77 and a twelve month high of $27.90. The stock’s fifty day simple moving average is $24.85 and its 200-day simple moving average is $24.41.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share 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 business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the company earned ($0.19) earnings per share. The company’s revenue was up 27.0% on a year-over-year basis. On average, analysts predict that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Insider Activity at Toast

In related news, Director Christopher P. Comparato sold 90,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $26.54, for a total value of $2,388,600.00. Following the transaction, the director now owns 112,282 shares of the company’s stock, valued at $2,979,964.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Christopher P. Comparato sold 90,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $26.54, for a total value of $2,388,600.00. Following the transaction, the director now owns 112,282 shares of the company’s stock, valued at $2,979,964.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Fredette sold 211,686 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the transaction, the president now directly owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. The disclosure for this sale can be found here. Insiders have sold 630,038 shares of company stock valued at $15,516,421 over the last quarter. 13.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TOST. Bank of America decreased their price objective on Toast from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $26.00 price objective on shares of Toast in a report on Wednesday, May 29th. JPMorgan Chase & Co. upped their price objective on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Wedbush upgraded Toast to a “strong-buy” rating in a report on Friday, September 6th. Finally, Mizuho raised Toast from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $21.00 to $33.00 in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $28.22.

Toast Company 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.