Globeflex Capital L P Acquires Shares of 162,676 Toast, Inc. $TOST

Globeflex Capital L P bought a new position in shares of Toast, Inc. (NYSE:TOST) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 162,676 shares of the company’s stock, valued at approximately $4,526,000.

Other hedge funds also recently made changes to their positions in the company. BOKF NA lifted its stake in Toast by 4.5% during the third quarter. BOKF NA now owns 8,023 shares of the company’s stock worth $293,000 after purchasing an additional 345 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its stake in Toast by 0.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 67,909 shares of the company’s stock valued at $1,800,000 after purchasing an additional 358 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Toast by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock valued at $1,012,000 after purchasing an additional 380 shares during the last quarter. Seven Mile Advisory raised its holdings 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 purchasing an additional 381 shares during the period. Finally, HM Payson & Co. raised its holdings 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 purchasing an additional 392 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Zacks Research lowered shares of Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. DA Davidson raised their target price on shares of Toast from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Mizuho cut their price target on Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Truist Financial boosted their price objective on Toast from $33.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Toast in a research note on Monday, August 17th. Seventeen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Toast has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Toast Stock Down 0.1%

Toast stock opened at $36.61 on Monday. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $45.64. The firm has a market capitalization of $18.82 billion, a price-to-earnings ratio of 46.94 and a beta of 1.72. The firm has a 50-day moving average price of $30.43 and a two-hundred day moving average price of $28.04.

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

Insider Activity at Toast

In related news, CRO Jonathan Vassil sold 13,931 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $36.01, for a total value of $501,655.31. Following the sale, the executive directly owned 69,966 shares in the company, valued at $2,519,475.66. This trade represents a 16.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 119,843 shares of Toast stock in a transaction on Monday, August 10th. The shares were sold at an average price of $35.38, for a total value of $4,240,045.34. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 530,973 shares of company stock worth $17,385,739 in the last three months. 10.03% of the stock is owned by company insiders.

About Toast

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.