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

Harbor Capital Advisors Inc. raised its stake in shares of Toast, Inc. (NYSE:TOST) by 29.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,110 shares of the company’s stock after buying 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 SEC filing.

Several other institutional investors have also modified their holdings of TOST. 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 valued at $820,468,000 after acquiring an additional 3,574,397 shares during the period. Price T Rowe Associates Inc. MD increased its position in Toast by 21.4% in 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 purchasing an additional 3,445,788 shares during the period. Champlain Investment Partners LLC lifted its stake in shares of Toast by 9.1% in the 1st quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock valued at $248,611,000 after purchasing an additional 833,390 shares during the period. Whale Rock Capital Management LLC acquired a new stake in shares of Toast in the 1st quarter valued at approximately $179,111,000. Finally, Meritage Group LP raised its holdings in Toast by 37.3% in the first quarter. Meritage Group LP now owns 5,284,811 shares of the company’s stock worth $131,697,000 after purchasing an additional 1,436,494 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Price Performance

TOST stock opened at $30.32 on Tuesday. Toast, Inc. has a 1 year low of $13.77 and a 1 year high of $31.57. The company has a market cap of $13.98 billion, a P/E ratio of -104.55 and a beta of 1.74. The stock’s fifty day moving average price is $27.49 and its 200-day moving average price is $25.70.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the firm posted ($0.19) EPS. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year. As a group, analysts expect that Toast, Inc. will post -0.1 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on TOST shares. The Goldman Sachs Group lifted their price target on Toast from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC restated a “buy” rating and issued a $30.00 price target on shares of Toast in a research note on Wednesday, August 7th. Royal Bank of Canada restated a “sector perform” rating and set a $27.00 price objective on shares of Toast in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Bank of America lifted their price objective on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.30.

Insider Activity

In related news, CEO Aman Narang sold 10,106 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total transaction of $280,643.62. Following the completion of the transaction, the chief executive officer now directly owns 968,095 shares of the company’s stock, valued at approximately $26,883,998.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Christopher P. Comparato sold 100,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $24.35, for a total transaction of $2,435,000.00. Following the completion of the transaction, the director now owns 120,107 shares in the company, valued at $2,924,605.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Aman Narang sold 10,106 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $280,643.62. Following the completion of the transaction, the chief executive officer now owns 968,095 shares in the company, valued at approximately $26,883,998.15. 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 1,370,721 shares of company stock worth $37,996,988 over the last ninety days. Corporate insiders own 13.32% of the company’s stock.

Toast Company Profile

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.