Lido Advisors LLC Has $3.21 Million Position in Toast, Inc. $TOST

Lido Advisors LLC lifted its holdings in Toast, Inc. (NYSE:TOST) by 214.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 121,208 shares of the company’s stock after purchasing an additional 82,714 shares during the period. Lido Advisors LLC’s holdings in Toast were worth $3,213,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TOST. NewEdge Advisors LLC lifted its holdings in shares of 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 buying an additional 16,379 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Toast by 24.0% in the second 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 during the last quarter. State Street Corp grew 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 worth $408,039,000 after acquiring an additional 245,276 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new stake in shares of Toast in the second quarter worth $4,479,000. Finally, Sei Investments Co. increased its position in 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. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Trading Up 2.3%

Shares of NYSE TOST opened at $29.07 on Friday. The business has a fifty day simple moving average of $26.56 and a 200 day simple moving average of $28.05. The firm has a market capitalization of $15.00 billion, a price-to-earnings ratio of 44.72 and a beta of 1.74. Toast, Inc. has a one year low of $22.26 and a one year high of $49.66.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on TOST. Loop Capital assumed coverage on shares of Toast in a research note on Tuesday, March 31st. They set a “hold” rating and a $26.00 target price for the company. Robert W. Baird raised their price target on shares of Toast from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Truist Financial boosted their price objective on shares of Toast from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Friday. Wall Street Zen lowered shares of Toast from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, DA Davidson reduced their target price on shares of Toast from $33.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.08.

Insider Activity at Toast

In other news, CFO Elena Gomez sold 11,605 shares of Toast stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total transaction of $334,804.25. Following the sale, the chief financial officer directly owned 185,150 shares in the company, valued at approximately $5,341,577.50. The trade was a 5.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Brian R. Elworthy sold 108,000 shares of Toast stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.89, for a total transaction of $2,796,120.00. Following the sale, the general counsel owned 189,642 shares in the company, valued at approximately $4,909,831.38. This trade represents a 36.29% 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 ninety days. Company insiders own 10.03% of the company’s stock.

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.