Prospera Financial Services Inc Invests $361,000 in Toast, Inc. $TOST

Prospera Financial Services Inc acquired a new stake in Toast, Inc. (NYSE:TOST) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 8,143 shares of the company’s stock, valued at approximately $361,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TOST. Savant Capital LLC increased its holdings in Toast by 3.7% in the second quarter. Savant Capital LLC now owns 10,147 shares of the company’s stock worth $449,000 after purchasing an additional 359 shares in the last quarter. Andra AP fonden grew its position in shares of Toast by 45.4% during the 2nd quarter. Andra AP fonden now owns 344,600 shares of the company’s stock worth $15,262,000 after buying an additional 107,600 shares during the period. Resona Asset Management Co. Ltd. increased its stake in shares of Toast by 16.3% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 140,319 shares of the company’s stock valued at $6,207,000 after acquiring an additional 19,707 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Toast by 100.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,966 shares of the company’s stock valued at $87,000 after acquiring an additional 984 shares in the last quarter. Finally, Axim Planning & Wealth acquired a new position in shares of Toast during the 2nd quarter valued at $203,000. Institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

TOST stock opened at $35.82 on Friday. The business has a 50-day simple moving average of $37.78 and a two-hundred day simple moving average of $41.48. The company has a market capitalization of $18.45 billion, a P/E ratio of 83.30 and a beta of 1.94. Toast, Inc. has a 52-week low of $28.12 and a 52-week high of $49.66.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Toast had a return on equity of 15.77% and a net margin of 4.68%.The business’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same period last year, the company earned $0.07 earnings per share. As a group, sell-side analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

TOST has been the subject of a number of research reports. DA Davidson set a $42.00 price target on shares of Toast in a report on Wednesday, November 5th. Keefe, Bruyette & Woods cut their price objective on shares of Toast from $50.00 to $42.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 1st. The Goldman Sachs Group decreased their target price on Toast from $51.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Canaccord Genuity Group upped their price target on Toast from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Finally, Jefferies Financial Group cut their price target on Toast from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $45.45.

Insider Buying and Selling at Toast

In related news, Director Paul D. Bell sold 12,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $9,615,682.96. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Jonathan Vassil sold 6,530 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $232,206.80. Following the transaction, the executive owned 69,932 shares in the company, valued at approximately $2,486,781.92. This trade represents a 8.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 62,259 shares of company stock worth $2,299,020. 12.14% of the stock is currently owned by insiders.

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.