Toast, Inc. (NYSE:TOST) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. raised its holdings in Toast, Inc. (NYSE:TOST) by 29.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 103,110 shares of the company’s stock after acquiring an additional 23,345 shares during the period. Harbor Capital Advisors Inc.’s holdings in Toast were worth $2,919,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TOST. Whale Rock Capital Management LLC acquired a new position in Toast in the first quarter valued at approximately $179,111,000. Assenagon Asset Management S.A. lifted its stake in shares of Toast by 2,889.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock valued at $108,427,000 after purchasing an additional 3,701,893 shares during the period. Capital International Investors boosted its holdings in Toast by 12.2% during the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after buying an additional 3,574,397 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Toast by 21.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after buying an additional 3,445,788 shares in the last quarter. Finally, Marshall Wace LLP grew its position in Toast by 175.8% during the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock valued at $64,871,000 after buying an additional 1,604,716 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Christopher P. Comparato sold 100,000 shares of the firm’s 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 completion of the sale, the director now owns 120,107 shares in the company, valued at $2,924,605.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Toast news, Director Christopher P. Comparato sold 100,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 120,107 shares in the company, 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 this link. Also, General Counsel Brian R. Elworthy sold 2,878 shares of Toast stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total transaction of $79,922.06. Following the sale, the general counsel now owns 177,836 shares of the company’s stock, valued at approximately $4,938,505.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,370,721 shares of company stock valued at $37,996,988 over the last quarter. Corporate insiders own 13.32% of the company’s stock.

Toast Price Performance

Shares of Toast stock opened at $30.32 on Tuesday. The firm’s fifty day simple moving average is $27.49 and its 200-day simple moving average is $25.70. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $31.57. The stock has a market capitalization of $13.98 billion, a price-to-earnings ratio of -104.55 and a beta of 1.74.

Toast (NYSE:TOST) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period last year, the company earned ($0.19) earnings per share. Analysts anticipate that Toast, Inc. will post -0.1 earnings per share for the current year.

Analysts Set New Price Targets

TOST has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and set a $30.00 target price on shares of Toast in a research report on Wednesday, August 7th. Stephens boosted their price target on shares of Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Robert W. Baird increased their price objective on shares of Toast from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $21.00 to $33.00 in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Toast presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.30.

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.