257,700 Shares in Toast, Inc. $TOST Purchased by Hawk Ridge Capital Management LP

Hawk Ridge Capital Management LP acquired a new position in Toast, Inc. (NYSE:TOST) during the first quarter, HoldingsChannel reports. The institutional investor acquired 257,700 shares of the company’s stock, valued at approximately $6,832,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bayban bought a new position in shares of Toast in the 4th quarter worth approximately $25,000. Strive Financial Group LLC bought a new stake in Toast during the fourth quarter worth about $29,000. SHP Wealth Management purchased a new stake in Toast in the fourth quarter worth about $29,000. Silicon Valley Capital Partners bought a new position in shares of Toast during the fourth quarter valued at approximately $36,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Toast by 2,083.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,048 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 9,146 shares of Toast stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $263,862.10. Following the completion of the sale, the president owned 931,449 shares of the company’s stock, valued at approximately $26,872,303.65. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Elena Gomez sold 11,605 shares of Toast stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $334,804.25. Following the completion of the sale, the chief financial officer directly owned 185,150 shares of the company’s stock, valued at approximately $5,341,577.50. The trade was a 5.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 159,265 shares of company stock worth $4,278,832. Insiders own 10.03% of the company’s stock.

Toast Stock Performance

Shares of NYSE TOST opened at $30.83 on Tuesday. The firm’s 50 day moving average price is $26.72 and its 200-day moving average price is $27.96. The company has a market cap of $15.91 billion, a PE ratio of 47.43 and a beta of 1.74. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $49.66.

Toast (NYSE:TOST) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.08). Toast had a net margin of 6.39% and a return on equity of 20.86%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the business earned $0.09 EPS. Toast’s revenue was up 21.9% on a year-over-year basis. On average, analysts forecast that Toast, Inc. will post 0.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TOST. Morgan Stanley set a $45.00 target price on shares of Toast in a report on Friday, May 8th. Rothschild & Co Redburn reaffirmed a “neutral” rating and set a $35.00 price objective on shares of Toast in a research report on Tuesday, May 12th. Piper Sandler began coverage on Toast in a research note on Wednesday, June 10th. They set an “overweight” rating and a $32.00 price objective for the company. Wall Street Zen downgraded Toast from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and an average price target of $37.08.

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.