Canton Hathaway LLC Increases Stock Position in Toast, Inc. $TOST

Canton Hathaway LLC lifted its holdings in shares of Toast, Inc. (NYSE:TOST) by 162.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,113 shares of the company’s stock after buying an additional 5,023 shares during the quarter. Canton Hathaway LLC’s holdings in Toast were worth $359,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TOST. Ameritas Advisory Services LLC purchased a new stake in shares of Toast during the 2nd quarter valued at approximately $31,000. Wayfinding Financial LLC bought a new stake in Toast during the 1st quarter worth approximately $34,000. REAP Financial Group LLC increased its holdings in Toast by 173.3% during the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after acquiring an additional 506 shares during the period. SBI Securities Co. Ltd. increased its holdings in Toast by 29.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock worth $42,000 after acquiring an additional 284 shares during the period. Finally, Motco bought a new stake in Toast during the 2nd quarter worth approximately $44,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Price Performance

Shares of NYSE:TOST opened at $34.40 on Friday. The company’s fifty day moving average price is $39.24 and its 200-day moving average price is $41.27. The firm has a market capitalization of $17.54 billion, a price-to-earnings ratio of 101.18 and a beta of 1.94. Toast, Inc. has a one year low of $28.12 and a one year high of $49.66.

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

Insider Activity at Toast

In related news, President Stephen Fredette sold 7,550 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $268,478.00. Following the transaction, the president owned 898,475 shares of the company’s stock, valued at approximately $31,949,771. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul D. Bell sold 12,500 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $42.38, for a total transaction of $529,750.00. Following the transaction, the director directly owned 226,892 shares in the company, valued at approximately $9,615,682.96. This represents a 5.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 62,196 shares of company stock worth $2,398,513 in the last 90 days. Corporate insiders own 12.14% of the company’s stock.

Analyst Upgrades and Downgrades

TOST has been the topic of several research analyst reports. Truist Financial set a $47.00 price target on shares of Toast in a report on Friday, October 24th. Citigroup raised shares of Toast to a “strong-buy” rating in a report on Thursday, October 23rd. Needham & Company LLC upped their price target on shares of Toast from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Barclays reaffirmed an “overweight” rating on shares of Toast in a report on Wednesday, July 16th. Finally, Jefferies Financial Group upped their price target on shares of Toast from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.17.

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.