Triumph Capital Management Sells 17,439 Shares of Toast, Inc. $TOST

Triumph Capital Management lowered its holdings in Toast, Inc. (NYSE:TOST) by 88.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,335 shares of the company’s stock after selling 17,439 shares during the quarter. Triumph Capital Management’s holdings in Toast were worth $65,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. BOKF NA grew its stake in Toast by 4.5% in the 3rd quarter. BOKF NA now owns 8,023 shares of the company’s stock valued at $293,000 after buying an additional 345 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Toast by 0.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 67,909 shares of the company’s stock valued at $1,800,000 after acquiring an additional 358 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Toast by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock valued at $1,012,000 after acquiring an additional 380 shares during the period. Seven Mile Advisory lifted its position in shares of Toast by 3.1% during the third quarter. Seven Mile Advisory now owns 12,689 shares of the company’s stock worth $463,000 after acquiring an additional 381 shares in the last quarter. Finally, HM Payson & Co. lifted its position in shares of Toast by 6.2% during the fourth quarter. HM Payson & Co. now owns 6,742 shares of the company’s stock worth $239,000 after acquiring an additional 392 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TOST shares. UBS Group lifted their price target on Toast from $34.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Evercore reissued an “outperform” rating on shares of Toast in a report on Wednesday, August 5th. Wells Fargo & Company raised their target price on Toast from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Wall Street Zen raised Toast from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Finally, Citigroup lifted their target price on Toast from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Sixteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Toast has an average rating of “Moderate Buy” and a consensus target price of $39.12.

Insider Buying and Selling

In other news, CFO Elena Gomez sold 16,176 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $35.29, for a total transaction of $570,851.04. Following the completion of the transaction, the chief financial officer owned 168,974 shares of the company’s stock, valued at approximately $5,963,092.46. The trade was a 8.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 124,542 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $35.29, for a total transaction of $4,395,087.18. Following the completion of the transaction, the chief executive officer owned 175,458 shares in the company, valued at approximately $6,191,912.82. This trade represents a 41.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 508,253 shares of company stock worth $17,688,694 over the last ninety days. 10.03% of the stock is owned by corporate insiders.

Toast Price Performance

Shares of NYSE:TOST opened at $33.86 on Friday. The firm has a fifty day moving average price of $32.27 and a two-hundred day moving average price of $28.50. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 43.41 and a beta of 1.72. Toast, Inc. has a one year low of $22.26 and a one year high of $42.62.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%.The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the company posted $0.13 EPS. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. Equities research analysts expect that Toast, Inc. will post 1 EPS for the current fiscal year.

Toast Company Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.