CenterBook Partners LP Acquires 31,111 Shares of Toast, Inc. $TOST

CenterBook Partners LP acquired a new stake in Toast, Inc. (NYSE:TOST) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 31,111 shares of the company’s stock, valued at approximately $902,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of TOST. HB Wealth Management LLC grew its holdings in shares of Toast by 2.5% during the second quarter. HB Wealth Management LLC now owns 12,748 shares of the company’s stock worth $355,000 after purchasing an additional 315 shares during the last quarter. Americana Partners LLC increased its stake in shares of Toast by 4.0% in the third quarter. Americana Partners LLC now owns 11,086 shares of the company’s stock valued at $321,000 after buying an additional 422 shares in the last quarter. Hickory Point Bank & Trust increased its stake in shares of Toast by 10.0% in the third quarter. Hickory Point Bank & Trust now owns 5,500 shares of the company’s stock valued at $159,000 after buying an additional 500 shares in the last quarter. Toth Financial Advisory Corp raised its holdings in shares of Toast by 16.9% in the third quarter. Toth Financial Advisory Corp now owns 3,561 shares of the company’s stock valued at $103,000 after buying an additional 516 shares during the last quarter. Finally, Canvas Wealth Advisors LLC raised its holdings in shares of Toast by 4.2% in the third quarter. Canvas Wealth Advisors LLC now owns 12,923 shares of the company’s stock valued at $407,000 after buying an additional 524 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TOST. Weiss Ratings upgraded shares of Toast from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Barclays increased their price objective on shares of Toast from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. DA Davidson raised their price objective on shares of Toast from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Morgan Stanley dropped their target price on shares of Toast from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, November 4th. Finally, BNP Paribas Exane lowered shares of Toast from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $38.00 to $35.00 in a research report on Wednesday, September 2nd. Seventeen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.73.

Toast Stock Performance

Shares of TOST opened at $34.60 on Wednesday. The firm has a market capitalization of $17.96 billion, a price-to-earnings ratio of 38.02 and a beta of 1.74. The business’s fifty day moving average price is $31.85 and its two-hundred day moving average price is $29.42. Toast, Inc. has a 52 week low of $22.26 and a 52 week high of $38.64.

Toast (NYSE:TOST) last released its earnings results on Tuesday, November 3rd. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.08). The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. Toast had a net margin of 7.69% and a return on equity of 26.39%. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period last year, the business posted $0.16 earnings per share. As a group, research analysts forecast that Toast, Inc. will post 1.08 EPS for the current year.

Insider Buying and Selling at Toast

In related news, CEO Aman Narang sold 14,713 shares of the firm’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $29.35, for a total value of $431,826.55. Following the transaction, the chief executive officer owned 86,543 shares in the company, valued at $2,540,037.05. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Jonathan Vassil sold 85,280 shares of Toast stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $36.34, for a total value of $3,099,075.20. Following the completion of the sale, the executive owned 69,966 shares of the company’s stock, valued at approximately $2,542,564.44. The trade was a 54.93% 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 have sold a total of 195,933 shares of company stock valued at $6,608,185 over the last ninety days. Company insiders own 10.03% of the company’s stock.

Toast Company Profile

Toast, Inc. provides a cloud-based technology platform designed for restaurants. Its products combine point-of-sale software and hardware with payment processing, helping restaurants manage in-person transactions and day-to-day operations. The platform includes tools for online ordering, delivery, marketing, customer loyalty, payroll, and team management, alongside features for managing menus and restaurant operations. Restaurants can use Toast’s products together or select services to fit their needs.