Darden Wealth Group Inc Invests $204,000 in Toast, Inc. $TOST

Darden Wealth Group Inc purchased a new stake in shares of Toast, Inc. (NYSE:TOST) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,600 shares of the company’s stock, valued at approximately $204,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC bought a new position in shares of Toast during the second quarter valued at approximately $31,000. Wayfinding Financial LLC bought a new position in Toast during the 1st quarter worth $34,000. REAP Financial Group LLC increased its position in Toast by 173.3% in the second quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after buying an additional 506 shares during the period. SBI Securities Co. Ltd. lifted its stake in Toast by 29.2% in the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock valued at $42,000 after buying an additional 284 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its holdings in shares of Toast by 1,383.8% during the second quarter. Cullen Frost Bankers Inc. now owns 1,009 shares of the company’s stock valued at $45,000 after acquiring an additional 941 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Aman Narang sold 13,652 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $485,465.12. Following the sale, the chief executive officer directly owned 318,150 shares in the company, valued at $11,313,414. This represents a 4.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Stephen Fredette sold 7,550 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $268,478.00. Following the transaction, the president owned 898,475 shares in the company, valued at approximately $31,949,771. This trade represents a 0.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,196 shares of company stock worth $2,398,513 over the last quarter. Corporate insiders own 12.14% of the company’s stock.

Toast Price Performance

TOST opened at $38.32 on Friday. The company has a market capitalization of $19.54 billion, a P/E ratio of 112.71 and a beta of 1.94. The firm’s fifty day moving average price is $39.70 and its two-hundred day moving average price is $41.20. Toast, Inc. has a fifty-two week low of $28.12 and a fifty-two week high of $49.66.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). Toast had a net margin of 4.07% and a return on equity of 14.19%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the firm posted $0.02 earnings per share. Toast’s revenue was up 24.8% on a year-over-year basis. On average, equities research analysts expect that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TOST shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a report on Friday. Wall Street Zen upgraded Toast from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft began coverage on Toast in a report on Thursday, July 17th. They set a “buy” rating and a $54.00 price target on the stock. Truist Financial set a $47.00 price target on shares of Toast in a research note on Friday. Finally, Jefferies Financial Group upped their price objective on shares of Toast from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.17.

About Toast

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.