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 8.14% valued currently at $632.03 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.
Currently, there are 538.55M common shares owned by the public and among those 356.39M shares have been available to trade.
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Insiders at the company have transacted a total of 200 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 86 of these insider trades were purchases, accounting for 42,088,893 shares. Insider sales of the common stock occurred on 114 occasions, with total insider shares sold totaling 11,948,287 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 17.52 million shares of the company’s stock, all valued at over $319.86 million. The company bought an additional 1.49 million shares recently to bring their total holdings to about 4.12% of the shares outstanding. Vanguard Total Stock Market ETF bought 0.56 million shares to see its total holdings expand to 12.79 million shares valued at over $233.62 million and representing 3.01% of the shares outstanding. T Rowe Price New Horizons Fund bought 3.13 million shares to bring its total holdings to over 11.22 million shares at a value of $204.95 million. T Rowe Price New Horizons Fund now owns shares totaling to 2.64% of the shares outstanding.
However, the script later moved the day high at 18.00, down -0.75%. The company’s stock has a 5-day price change of -4.12% and -3.37% over the past three months. TOST shares are trading -5.75% year to date (YTD), with the 12-month market performance down to -10.74% 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 9.42 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 -4.78%, 5.42%, and -10.67% respectively.
Institutional ownership of Toast Inc (NYSE: TOST) shares accounts for 61.22% of the company’s 538.55M shares outstanding. Mutual fund holders own 38.43%, while other institutional holders and individual stakeholders account for 39.17% and 14.45% respectively.
It has a market capitalization of $9.27B and a beta (3y monthly) value of 1.65. 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 3.38% over the week and 3.99% over the month.
Analysts forecast that Toast Inc (TOST) will achieve an EPS of -$0.11 for the current quarter, -$0.11 for the next quarter and -$0.28 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 122.15%, and 399.02% over the next financial year.
Looking at the support for the TOST, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on January 10, 2024, with the firm’s price target at $24.
