Scholtz & Company LLC Purchases Shares of 83,417 Toast, Inc. $TOST

Scholtz & Company LLC acquired a new position in shares of Toast, Inc. (NYSE:TOST) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 83,417 shares of the company’s stock, valued at approximately $2,321,000. Toast accounts for approximately 1.2% of Scholtz & Company LLC’s portfolio, making the stock its 28th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in Toast by 2,643.0% during the 2nd quarter. California State Teachers Retirement System now owns 17,903,895 shares of the company’s stock worth $498,086,000 after purchasing an additional 17,251,171 shares during the last quarter. Morgan Stanley increased its position in Toast by 6.7% during the 4th quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock worth $368,332,000 after buying an additional 653,487 shares during the period. State Street Corp lifted its holdings in shares of Toast by 3.0% during the fourth quarter. State Street Corp now owns 9,820,594 shares of the company’s stock worth $348,729,000 after buying an additional 282,282 shares in the last quarter. XN LP boosted its position in shares of Toast by 50.8% in the fourth quarter. XN LP now owns 8,988,386 shares of the company’s stock valued at $319,178,000 after acquiring an additional 3,029,856 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Toast by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company’s stock valued at $307,214,000 after acquiring an additional 169,230 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Activity at Toast

In other Toast news, CFO Elena Gomez sold 5,761 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $35.37, for a total value of $203,766.57. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 119,843 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $35.38, for a total transaction 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 three months, insiders have sold 522,533 shares of company stock valued at $18,172,786. 10.03% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Zacks Research lowered shares of Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Evercore restated an “outperform” rating on shares of Toast in a research report on Wednesday, August 5th. Jefferies Financial Group set a $40.00 target price on shares of Toast in a report on Wednesday, August 5th. Canaccord Genuity Group set a $40.00 price target on Toast in a research note on Wednesday, August 5th. Finally, UBS Group raised their price objective on Toast from $34.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Sixteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.12.

Toast Stock Down 2.7%

Shares of TOST stock opened at $32.40 on Thursday. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $42.15. The company has a market cap of $16.66 billion, a P/E ratio of 41.54 and a beta of 1.72. The business has a fifty day simple moving average of $32.71 and a 200 day simple moving average of $28.66.

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

Toast Company Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other food-service businesses. Its platform combines point-of-sale hardware and software with tools for order management, payments, menu management, reporting and business operations.

The company also offers products and services that support employee management, payroll, inventory, scheduling, online ordering, delivery, gift cards, loyalty programs and guest engagement. Toast’s integrated approach is intended to help restaurants manage front-of-house and back-of-house activities through a single platform.

Toast was founded in 2011 and is headquartered in Boston, Massachusetts.