Federated Hermes Inc. Purchases 124,406 Shares of Toast, Inc. (NYSE:TOST)

Federated Hermes Inc. grew its position in shares of Toast, Inc. (NYSE:TOST) by 7.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,731,600 shares of the company’s stock after acquiring an additional 124,406 shares during the period. Federated Hermes Inc.’s holdings in Toast were worth $44,623,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TOST. West Branch Capital LLC purchased a new position in Toast during the 2nd quarter valued at $26,000. LRI Investments LLC purchased a new position in shares of Toast during the first quarter valued at about $27,000. Principal Securities Inc. purchased a new position in shares of Toast during the fourth quarter valued at about $30,000. Cape Investment Advisory Inc. bought a new position in Toast in the fourth quarter worth about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Toast during the 2nd quarter valued at approximately $33,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, President Stephen Fredette sold 101,574 shares of Toast stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $25.73, for a total value of $2,613,499.02. Following the completion of the sale, the president now owns 2,395,685 shares of the company’s stock, valued at $61,640,975.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, President Stephen Fredette sold 101,574 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $25.73, for a total value of $2,613,499.02. Following the transaction, the president now owns 2,395,685 shares of the company’s stock, valued at $61,640,975.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Jonathan Vassil sold 1,541 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $36,984.00. Following the sale, the executive now owns 33,312 shares of the company’s stock, valued at $799,488. The disclosure for this sale can be found here. Insiders have sold 731,612 shares of company stock valued at $18,129,920 in the last ninety days. 13.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on TOST. Baird R W cut Toast from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. The Goldman Sachs Group reiterated a “buy” rating and issued a $29.00 price objective on shares of Toast in a report on Thursday. Robert W. Baird downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $28.00 target price on the stock. in a research report on Tuesday, May 21st. Morgan Stanley lifted their price target on shares of Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Stephens reissued an “equal weight” rating and set a $28.00 price objective on shares of Toast in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Toast presently has a consensus rating of “Moderate Buy” and an average target price of $28.22.

Toast Stock Performance

NYSE TOST opened at $26.19 on Friday. The company has a market capitalization of $12.07 billion, a price-to-earnings ratio of -52.38 and a beta of 1.75. The stock has a 50-day moving average of $24.87 and a 200 day moving average of $24.45. Toast, Inc. has a one year low of $13.77 and a one year high of $27.90.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating 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 firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the company earned ($0.19) earnings per share. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. On average, equities analysts predict that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Toast 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.