Globeflex Capital L P Takes Position in Toast, Inc. $TOST

Globeflex Capital L P acquired a new stake in shares of Toast, Inc. (NYSE:TOST) during the second quarter, Holdings Channel reports. The firm acquired 162,676 shares of the company’s stock, valued at approximately $4,526,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TOST. Bayban bought a new position in Toast during the 4th quarter valued at $25,000. SHP Wealth Management bought a new stake in shares of Toast in the 4th quarter worth $29,000. Strive Financial Group LLC acquired a new stake in shares of Toast in the fourth quarter valued at $29,000. Silicon Valley Capital Partners acquired a new stake in shares of Toast in the fourth quarter valued at $36,000. Finally, Quadrant Capital Group LLC boosted its stake in Toast by 2,083.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,048 shares of the company’s stock valued at $37,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Insiders Place Their Bets

In other Toast news, CFO Elena Gomez sold 5,761 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $35.37, for a total transaction of $203,766.57. Following the completion of the sale, the chief financial officer directly owned 160,150 shares of the company’s stock, valued at approximately $5,664,505.50. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 119,843 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $35.38, for a total transaction of $4,240,045.34. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 530,973 shares of company stock worth $17,385,739. Company insiders own 10.03% of the company’s stock.

Toast Stock Down 0.1%

Shares of NYSE TOST opened at $36.61 on Monday. The stock’s fifty day simple moving average is $30.43 and its 200 day simple moving average is $28.04. The stock has a market capitalization of $18.82 billion, a price-to-earnings ratio of 46.94 and a beta of 1.72. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $45.64.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.06). Toast had a net margin of 7.14% and a return on equity of 23.90%. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. As a group, analysts anticipate that Toast, Inc. will post 1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TOST shares. Robert W. Baird lifted their target price on Toast from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Piper Sandler upped their price target on shares of Toast from $32.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Wall Street Zen lowered shares of Toast from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. The Goldman Sachs Group raised shares of Toast from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Thursday, July 9th. Finally, Barclays boosted their target price on shares of Toast from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Seventeen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Toast 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.