Toast, Inc. $TOST Shares Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. lifted its position in Toast, Inc. (NYSE:TOST) by 52.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,079 shares of the company’s stock after acquiring an additional 24,868 shares during the period. D.A. Davidson & CO.’s holdings in Toast were worth $1,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. NewEdge Advisors LLC increased its position in Toast by 1,555.5% during the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after purchasing an additional 16,379 shares during the last quarter. Cerity Partners LLC lifted its stake in Toast by 24.0% during the 2nd quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock worth $3,613,000 after acquiring an additional 15,774 shares in the last quarter. State Street Corp boosted its stake in shares of Toast by 2.7% in the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock valued at $408,039,000 after purchasing an additional 245,276 shares during the period. Frontier Capital Management Co. LLC purchased a new position in Toast in the 2nd quarter valued at approximately $4,479,000. Finally, Sei Investments Co. increased its position in shares of Toast by 24.6% during the second quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock worth $45,619,000 after acquiring an additional 203,404 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Toast

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

Toast Price Performance

NYSE:TOST opened at $30.40 on Wednesday. The firm has a 50 day simple moving average of $26.19 and a 200-day simple moving average of $28.12. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $49.66. The firm has a market cap of $15.69 billion, a PE ratio of 46.77 and a beta of 1.74.

Toast (NYSE:TOST) last issued its quarterly 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). Toast had a return on equity of 20.86% and a net margin of 6.39%.The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the business posted $0.09 earnings per share. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. As a group, sell-side analysts expect that Toast, Inc. will post 0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on TOST. Robert W. Baird increased their target price on Toast from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Morgan Stanley set a $45.00 price target on shares of Toast in a research note on Friday, May 8th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toast in a research report on Monday, June 1st. Citigroup lowered their target price on shares of Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, UBS Group dropped their price target on shares of Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.96.

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.