Toast, Inc. $TOST Shares Bought by Global Trust Asset Management LLC

Global Trust Asset Management LLC grew its position in Toast, Inc. (NYSE:TOST) by 80.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,700 shares of the company’s stock after acquiring an additional 1,200 shares during the quarter. Global Trust Asset Management LLC’s holdings in Toast were worth $120,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Moody Lynn & Lieberson LLC acquired a new stake in Toast during the second quarter worth $1,169,000. Avior Wealth Management LLC purchased a new stake in Toast during the 2nd quarter worth about $466,000. LVW Advisors LLC lifted its holdings in shares of Toast by 29.5% in the 2nd quarter. LVW Advisors LLC now owns 10,506 shares of the company’s stock valued at $465,000 after purchasing an additional 2,393 shares during the last quarter. Independent Wealth Network Inc. raised its stake in Toast by 5.0% during the 2nd quarter. Independent Wealth Network Inc. now owns 6,441 shares of the company’s stock valued at $285,000 after acquiring an additional 309 shares during the last quarter. Finally, Signaturefd LLC raised its stake in Toast by 1,185.4% during the 2nd quarter. Signaturefd LLC now owns 18,921 shares of the company’s stock valued at $838,000 after acquiring an additional 17,449 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

TOST has been the topic of a number of research reports. Wells Fargo & Company started coverage on Toast in a report on Wednesday, July 16th. They issued a “buy” rating on the stock. Canaccord Genuity Group increased their price target on Toast from $48.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Needham & Company LLC raised their target price on Toast from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Robert W. Baird set a $48.00 price target on shares of Toast in a research report on Monday, September 22nd. Finally, Citigroup reissued a “buy” rating on shares of Toast in a report on Wednesday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.65.

Insider Transactions at Toast

In related news, CFO Elena Gomez sold 34,170 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.56, for a total value of $1,454,275.20. Following the sale, the chief financial officer owned 139,357 shares of the company’s stock, valued at $5,931,033.92. The trade was a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Jonathan Vassil sold 6,592 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $280,753.28. Following the completion of the sale, the executive directly owned 61,791 shares in the company, valued at approximately $2,631,678.69. The trade was a 9.64% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 88,342 shares of company stock worth $3,804,710. Corporate insiders own 12.14% of the company’s stock.

Toast Trading Down 0.2%

TOST stock opened at $37.14 on Tuesday. Toast, Inc. has a 1 year low of $26.91 and a 1 year high of $49.66. The company has a fifty day simple moving average of $43.27 and a 200 day simple moving average of $40.81. The firm has a market cap of $18.94 billion, a PE ratio of 109.24 and a beta of 2.00.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 EPS. As a group, analysts forecast that Toast, Inc. will post 0.39 EPS for the current fiscal year.

About Toast

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.