Stephens Investment Management Group LLC Has $53.36 Million Stock Position in Toast, Inc. (NYSE:TOST)

Stephens Investment Management Group LLC raised its stake in Toast, Inc. (NYSE:TOST) by 13.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,884,771 shares of the company’s stock after purchasing an additional 218,959 shares during the period. Stephens Investment Management Group LLC owned approximately 0.41% of Toast worth $53,358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC bought a new position in Toast during the 1st quarter valued at about $5,078,000. QRG Capital Management Inc. grew its position in Toast by 39.7% during the 2nd quarter. QRG Capital Management Inc. now owns 84,967 shares of the company’s stock worth $2,190,000 after acquiring an additional 24,164 shares during the last quarter. Epoch Investment Partners Inc. acquired a new stake in Toast during the 1st quarter valued at $633,000. Mirae Asset Global Investments Co. Ltd. raised its position in Toast by 15.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 483,140 shares of the company’s stock valued at $12,040,000 after purchasing an additional 65,654 shares during the last quarter. Finally, Duality Advisers LP bought a new stake in shares of Toast during the first quarter worth $1,172,000. Institutional investors own 82.91% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TOST. JPMorgan Chase & Co. boosted their price target on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Stephens lifted their price target on shares of Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Morgan Stanley increased their price objective on shares of Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Mizuho raised shares of 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. Finally, Robert W. Baird increased their target price on Toast from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $29.26.

Insider Activity

In other news, Director Christopher P. Comparato sold 100,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $24.35, for a total value of $2,435,000.00. Following the sale, the director now directly owns 120,107 shares of the company’s stock, valued at approximately $2,924,605.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Christopher P. Comparato sold 100,000 shares of Toast stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $24.35, for a total transaction of $2,435,000.00. Following the completion of the sale, the director now directly owns 120,107 shares of the company’s stock, valued at approximately $2,924,605.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Brian R. Elworthy sold 2,878 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total value of $79,922.06. Following the transaction, the general counsel now owns 177,836 shares in the company, valued at $4,938,505.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,370,721 shares of company stock worth $37,996,988. 13.32% of the stock is owned by corporate insiders.

Toast Stock Performance

Toast stock opened at $30.02 on Friday. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $30.78. The firm’s 50-day simple moving average is $27.10 and its 200 day simple moving average is $25.51.

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

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.