Toast, Inc. $TOST Stock: Arkfeld Wealth Strategies L.L.C. Raises Position

Arkfeld Wealth Strategies L.L.C. grew its holdings in Toast, Inc. (NYSE:TOST) by 38.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 366,047 shares of the company’s stock after purchasing an additional 101,226 shares during the period. Toast comprises approximately 2.9% of Arkfeld Wealth Strategies L.L.C.’s holdings, making the stock its 10th largest holding. Arkfeld Wealth Strategies L.L.C.’s holdings in Toast were worth $11,183,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in Toast by 36.0% during the 1st quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company’s stock valued at $211,478,000 after purchasing an additional 2,111,009 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Toast by 10.6% during the first quarter. Bank of America Corp DE now owns 4,866,197 shares of the company’s stock valued at $129,003,000 after buying an additional 465,006 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Toast by 25.1% in the first quarter. Renaissance Technologies LLC now owns 4,321,437 shares of the company’s stock valued at $114,561,000 after acquiring an additional 867,509 shares in the last quarter. Amova Asset Management Americas Inc. boosted its position in shares of Toast by 0.4% in the 1st quarter. Amova Asset Management Americas Inc. now owns 3,817,961 shares of the company’s stock worth $101,176,000 after purchasing an additional 16,614 shares in the last quarter. Finally, Amundi grew its stake in shares of Toast by 24.5% during the first quarter. Amundi now owns 3,329,206 shares of the company’s stock worth $88,257,000 after acquiring an additional 655,717 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TOST. Citigroup upped their target price on Toast from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Oppenheimer upped their price objective on shares of Toast from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Keefe, Bruyette & Woods upped their price objective on shares of Toast from $30.00 to $35.00 and gave the company a “market perform” rating in a report on Wednesday, August 5th. Barclays raised their target price on shares of Toast from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Finally, Wells Fargo & Company boosted their target price on shares of Toast from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Seventeen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.11.

Toast Price Performance

TOST stock traded down $0.07 during mid-day trading on Monday, reaching $31.55. 1,459,535 shares of the company’s stock were exchanged, compared to its average volume of 10,952,259. The company has a market cap of $16.22 billion, a price-to-earnings ratio of 40.50 and a beta of 1.74. The stock’s 50 day moving average is $32.59 and its 200 day moving average is $29.23. Toast, Inc. has a 12-month low of $22.26 and a 12-month high of $39.72.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.06). The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Toast had a return on equity of 23.90% and a net margin of 7.14%. Toast’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. On average, research analysts forecast that Toast, Inc. will post 1.00 earnings per share for the current fiscal year.

Insider Transactions at Toast

In other news, CRO Jonathan Vassil sold 85,280 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $36.34, for a total transaction of $3,099,075.20. Following the transaction, the executive owned 69,966 shares of the company’s stock, valued at approximately $2,542,564.44. The trade was a 54.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Elena Gomez sold 16,176 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $35.29, for a total transaction of $570,851.04. Following the completion of the transaction, the chief financial officer owned 168,974 shares in the company, valued at $5,963,092.46. The trade was a 8.74% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 534,830 shares of company stock valued at $18,566,600. Corporate insiders own 10.03% of the company’s stock.

Toast Company Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants. Its integrated system combines point-of-sale software and hardware with payment processing, helping restaurants manage sales, orders, menus, guest interactions and day-to-day operations from a unified platform.

The company offers products and services including online ordering, delivery management, digital ordering and payment tools, restaurant websites, gift cards, loyalty programs, marketing, labor management, payroll, inventory management, reporting and analytics.