145,000 Shares in Toast, Inc. $TOST Purchased by Aristides Capital LLC

Aristides Capital LLC acquired a new stake in shares of Toast, Inc. (NYSE:TOST) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 145,000 shares of the company’s stock, valued at approximately $3,844,000. Toast makes up approximately 0.6% of Aristides Capital LLC’s portfolio, making the stock its 24th largest holding.

Other hedge funds also recently bought and sold shares of the company. Lido Advisors LLC lifted its stake in Toast by 214.9% in the 1st quarter. Lido Advisors LLC now owns 121,208 shares of the company’s stock worth $3,213,000 after purchasing an additional 82,714 shares in the last quarter. Globeflex Capital L P boosted its holdings in shares of Toast by 31.4% during the 1st quarter. Globeflex Capital L P now owns 162,251 shares of the company’s stock worth $4,301,000 after purchasing an additional 38,805 shares during the last quarter. State of Wyoming grew its position in shares of Toast by 76.7% in the first quarter. State of Wyoming now owns 76,738 shares of the company’s stock valued at $2,034,000 after purchasing an additional 33,303 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Toast by 4.2% in the first quarter. Cetera Investment Advisers now owns 115,791 shares of the company’s stock valued at $3,070,000 after purchasing an additional 4,635 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Toast by 34.8% in the first quarter. PNC Financial Services Group Inc. now owns 20,717 shares of the company’s stock valued at $549,000 after purchasing an additional 5,353 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Down 2.8%

TOST stock opened at $28.38 on Friday. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $49.66. The stock has a market cap of $14.64 billion, a price-to-earnings ratio of 43.66 and a beta of 1.74. The business has a fifty day moving average of $26.43 and a two-hundred day moving average of $28.04.

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

Analysts Set New Price Targets

A number of brokerages recently commented on TOST. Loop Capital started coverage on Toast in a research report on Tuesday, March 31st. They set a “hold” rating and a $26.00 price objective on the stock. Morgan Stanley set a $45.00 target price on Toast in a report on Friday, May 8th. Barclays started coverage on Toast in a research note on Tuesday, July 7th. They issued an “overweight” rating and a $35.00 target price for the company. The Goldman Sachs Group upgraded Toast from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Thursday, July 9th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Toast in a research report on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Toast presently has a consensus rating of “Moderate Buy” and an average price target of $36.96.

Insider Transactions at Toast

In other Toast news, President Stephen Fredette sold 9,146 shares of the stock in a transaction dated 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 of the company’s stock, valued at $26,872,303.65. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $94,594.50. Following the sale, the executive owned 69,966 shares of the company’s stock, valued at approximately $2,101,078.98. This represents a 4.31% 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 sold 159,265 shares of company stock worth $4,278,832 in the last 90 days. Insiders own 10.03% of the company’s stock.

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.