Hussman Strategic Advisors Inc. Decreases Holdings in Toast, Inc. $TOST

Hussman Strategic Advisors Inc. cut its holdings in shares of Toast, Inc. (NYSE:TOST) by 50.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,000 shares of the company’s stock after selling 21,000 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Toast were worth $930,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TOST. Ameritas Advisory Services LLC purchased a new position in shares of Toast during the second quarter worth approximately $31,000. Wayfinding Financial LLC purchased a new position in shares of Toast during the first quarter worth approximately $34,000. REAP Financial Group LLC raised its stake in shares of Toast by 173.3% during the second quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after acquiring an additional 506 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Toast by 29.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock worth $42,000 after acquiring an additional 284 shares in the last quarter. Finally, Motco purchased a new position in shares of Toast during the second quarter worth approximately $44,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Trading Down 0.1%

Shares of Toast stock opened at $35.69 on Wednesday. The company’s fifty day simple moving average is $38.76 and its two-hundred day simple moving average is $41.40. The company has a market cap of $18.20 billion, a P/E ratio of 104.98 and a beta of 1.94. Toast, Inc. has a 12-month low of $28.12 and a 12-month high of $49.66.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 earnings per share. Analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on TOST. Truist Financial set a $47.00 price target on shares of Toast in a research note on Friday, October 24th. JPMorgan Chase & Co. lifted their target price on shares of Toast from $42.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Citigroup raised shares of Toast to a “strong-buy” rating in a research note on Thursday, October 23rd. Wells Fargo & Company raised shares of Toast to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Morgan Stanley lifted their target price on shares of Toast from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $46.17.

Insider Buying and Selling at Toast

In other Toast news, Director Paul D. Bell sold 12,500 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $42.38, for a total transaction of $529,750.00. Following the transaction, the director directly owned 226,892 shares of the company’s stock, valued at approximately $9,615,682.96. The trade was a 5.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Fredette sold 7,550 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $268,478.00. Following the transaction, the president directly owned 898,475 shares in the company, valued at approximately $31,949,771. The trade was a 0.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 54,273 shares of company stock worth $2,015,198. 12.14% of the stock is owned by corporate insiders.

Toast 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.