Wellington Management Group LLP Acquires 1,397,021 Shares of Toast, Inc. $TOST

Wellington Management Group LLP boosted its holdings in shares of Toast, Inc. (NYSE:TOST) by 131.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,456,114 shares of the company’s stock after buying an additional 1,397,021 shares during the quarter. Wellington Management Group LLP’s holdings in Toast were worth $68,329,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BOKF NA lifted its stake in shares of Toast by 4.5% in the third quarter. BOKF NA now owns 8,023 shares of the company’s stock worth $293,000 after buying an additional 345 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in Toast by 0.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 67,909 shares of the company’s stock worth $1,800,000 after acquiring an additional 358 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Toast by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock valued at $1,012,000 after acquiring an additional 380 shares during the period. Seven Mile Advisory grew its position in shares of Toast by 3.1% in the third quarter. Seven Mile Advisory now owns 12,689 shares of the company’s stock valued at $463,000 after purchasing an additional 381 shares during the last quarter. Finally, HM Payson & Co. grew its position in shares of Toast by 6.2% in the fourth quarter. HM Payson & Co. now owns 6,742 shares of the company’s stock valued at $239,000 after purchasing an additional 392 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Transactions at Toast

In related news, CFO Elena Gomez sold 5,761 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $35.37, for a total transaction of $203,766.57. Following the completion of the sale, the chief financial officer owned 160,150 shares in the company, valued at $5,664,505.50. This trade represents a 3.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 119,843 shares of Toast stock in a transaction on Monday, August 10th. The shares were sold at an average price of $35.38, for a total value of $4,240,045.34. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 508,253 shares of company stock valued at $17,688,694. 10.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TOST shares. Morgan Stanley set a $45.00 target price on Toast in a research note on Friday, May 8th. DA Davidson increased their price objective on Toast from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. BMO Capital Markets raised their price objective on shares of Toast from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods boosted their target price on shares of Toast from $30.00 to $35.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group set a $40.00 price target on shares of Toast in a report on Wednesday, August 5th. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, Toast has an average rating of “Moderate Buy” and an average target price of $39.12.

Toast Price Performance

TOST opened at $34.03 on Thursday. The company has a market capitalization of $17.49 billion, a P/E ratio of 43.62 and a beta of 1.72. The firm’s fifty day moving average price is $32.11 and its two-hundred day moving average price is $28.45. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $42.78.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.87 billion. Toast had a net margin of 7.14% and a return on equity of 23.90%. Toast’s revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 earnings per share. On average, equities research analysts expect that Toast, Inc. will post 1 EPS for the current fiscal year.

Toast Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.