The Vanguard Group, Inc. recently announced the acquisition of new stake in Toast Inc (NYSE:TOST). The institutional investor has increased its shareholding in the Technology company by 11.19% to 34.61 million shares with purchase of 3.48 million shares. This fresh investment now brings its stake to 8.43% valued currently at $553.46 million. In addition, Capital Research & Management Co raised its holdings by 3.59 million to 26.9 million shares. And Fidelity Management & Research Co has lifted its position by 7.82% or 1.82 million shares – to 25.03 million shares.
With over 7.39 million Toast Inc (TOST) shares trading Monday and a closing price of $15.12 on the day, the dollar volume was approximately $111.69 million. The shares have shown a negative half year performance of -31.15% and its price on 12/04/23 lost nearly -1.31%. Currently, there are 538.55M common shares owned by the public and among those 353.99M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 23 analysts who have offered their price forecasts for TOST have a consensus price objective of $18.72. The analysts have set the share’s price value over the next 12 months at a high of $22.00 and a low of $12.00. The average price target is 19.23% above its recent price level and a downside to the estimated low will see the stock lose -26.0% over that period. But an upside of 31.27% will see the stock hit the forecast high price target while median target price for the stock is $18.50.
Insiders at the company have transacted a total of 243 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 101 of these insider trades were purchases, accounting for 43,844,230 shares. Insider sales of the common stock occurred on 142 occasions, with total insider shares sold totaling 15,216,282 shares.
The top 3 mutual fund holders in Toast Inc are American Funds Growth Fund of Ame, Vanguard Total Stock Market ETF, and T Rowe Price New Horizons Fund. American Funds Growth Fund of Ame owns 16.03 million shares of the company’s stock, all valued at over $256.3 million. The company bought an additional 0.95 million shares recently to bring their total holdings to about 3.90% of the shares outstanding. Vanguard Total Stock Market ETF bought 21250.0 shares to see its total holdings expand to 12.22 million shares valued at over $195.4 million and representing 2.97% of the shares outstanding. T Rowe Price New Horizons Fund sold -0.55 million shares to bring its total holdings to over 8.09 million shares at a value of $129.41 million. T Rowe Price New Horizons Fund now owns shares totaling to 1.97% of the shares outstanding.
Shares of Toast Inc (NYSE: TOST) opened at $15.18, down -$0.14 from a prior closing price of $15.32. However, the script later moved the day high at 15.57, down -1.31%. The company’s stock has a 5-day price change of 6.03% and -30.23% over the past three months. TOST shares are trading -16.14% year to date (YTD), with the 12-month market performance down to -17.56% lower. It has a 12-month low price of $13.77 and touched a high of $27.00 over the same period. TOST has an average intraday trading volume of 8.45 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.70%, -8.27%, and -21.97% respectively.
Institutional ownership of Toast Inc (NYSE: TOST) shares accounts for 61.12% of the company’s 538.55M shares outstanding. Mutual fund holders own 38.98%, while other institutional holders and individual stakeholders account for 41.23% and 14.97% respectively.
It has a market capitalization of $8.14B and a beta (3y monthly) value of 1.56. The earnings-per-share (ttm) stands at -$0.59. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.12% over the week and 4.34% over the month.
Analysts forecast that Toast Inc (TOST) will achieve an EPS of -$0.11 for the current quarter, -$0.1 for the next quarter and -$0.33 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.16 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was -$0.19 a year ago. Earnings per share for the fiscal year are expected to increase by 133.70%, and 181.48% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 23 brokerage firm advisors rate Toast Inc (TOST) as a “Moderate Buy” at a consensus score of 2.22. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 11 of the 23 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the TOST, a number of firms have released research notes about the stock. Robert W. Baird stated their Outperform rating for the stock in a research note on November 10, 2023, with the firm’s price target at $18.
