24,851 Shares in Toast, Inc. $TOST Acquired by State of Wyoming

State of Wyoming acquired a new position in shares of Toast, Inc. (NYSE:TOST) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 24,851 shares of the company’s stock, valued at approximately $1,101,000.

Several other hedge funds have also made changes to their positions in the company. RiverPark Advisors LLC purchased a new position in shares of Toast during the second quarter valued at $30,000. Ameritas Advisory Services LLC bought a new position in Toast during the 2nd quarter worth about $31,000. REAP Financial Group LLC increased its position in Toast by 173.3% during the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock valued at $35,000 after purchasing an additional 506 shares during the period. Loomis Sayles & Co. L P purchased a new stake in shares of Toast in the 2nd quarter worth approximately $42,000. Finally, Motco bought a new position in Toast in the second quarter worth approximately $44,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Citigroup upgraded Toast to a “strong-buy” rating in a report on Thursday, October 23rd. UBS Group set a $43.00 price objective on Toast in a research report on Thursday, December 4th. Wall Street Zen upgraded shares of Toast from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Truist Financial decreased their price target on shares of Toast from $47.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Morgan Stanley raised their price target on shares of Toast from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.18.

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 1,059 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total value of $37,636.86. Following the transaction, the general counsel directly owned 229,017 shares of the company’s stock, valued at $8,139,264.18. This represents a 0.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Aman Narang sold 1,732 shares of Toast stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total value of $61,555.28. Following the sale, the chief executive officer directly owned 319,939 shares of the company’s stock, valued at approximately $11,370,632.06. This represents a 0.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 49,759 shares of company stock valued at $1,769,270. 12.14% of the stock is owned by corporate insiders.

Toast Stock Down 2.0%

TOST opened at $35.26 on Friday. The company has a market cap of $18.16 billion, a P/E ratio of 82.00 and a beta of 1.94. The firm’s 50-day moving average price is $35.98 and its 200-day moving average price is $40.58. Toast, Inc. has a 52-week low of $28.12 and a 52-week high of $49.66.

Toast (NYSE:TOST) last released its earnings results on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a return on equity of 15.77% and a net margin of 4.68%.The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business earned $0.07 earnings per share. The firm’s revenue for the quarter was up 25.1% on a year-over-year basis. On average, research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Toast Company Profile

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.