Toast, Inc. $TOST Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its holdings in Toast, Inc. (NYSE:TOST) by 88.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 189,366 shares of the company’s stock after acquiring an additional 88,858 shares during the quarter. Edgestream Partners L.P.’s holdings in Toast were worth $5,020,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Capelight Capital Asset Management LP purchased a new stake in Toast during the fourth quarter worth about $2,131,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Toast by 6.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 972,230 shares of the company’s stock valued at $34,524,000 after acquiring an additional 57,512 shares during the period. Lecap Asset Management Ltd. boosted its stake in shares of Toast by 206.7% during the 4th quarter. Lecap Asset Management Ltd. now owns 59,123 shares of the company’s stock worth $2,099,000 after acquiring an additional 39,847 shares in the last quarter. Campbell Capital Management Inc. acquired a new stake in shares of Toast in the 4th quarter worth approximately $9,812,000. Finally, Hamilton Lane Advisors LLC purchased a new position in Toast in the 4th quarter valued at approximately $15,770,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Price Performance

NYSE:TOST opened at $32.38 on Friday. The firm has a market cap of $16.71 billion, a PE ratio of 49.82 and a beta of 1.74. The firm has a 50 day simple moving average of $27.47 and a 200-day simple moving average of $27.92. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $49.66.

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

Insider Buying and Selling at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 6,352 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $183,255.20. Following the sale, the general counsel directly owned 196,909 shares of the company’s stock, valued at approximately $5,680,824.65. This trade represents a 3.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Jonathan Vassil sold 3,150 shares of Toast stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $30.03, for a total value of $94,594.50. Following the completion of the sale, the executive owned 69,966 shares of the company’s stock, valued at $2,101,078.98. This trade represents a 4.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 159,265 shares of company stock valued at $4,278,832. 10.03% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on TOST shares. Truist Financial boosted their target price on Toast from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. DA Davidson boosted their price objective on shares of Toast from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. Oppenheimer restated an “outperform” rating and set a $36.00 target price on shares of Toast in a research report on Friday, May 8th. Finally, Morgan Stanley set a $45.00 price objective on shares of Toast in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.15.

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.