Weiss Asset Management LP Purchases Shares of 46,639 Toast, Inc. $TOST

Weiss Asset Management LP acquired a new position in shares of Toast, Inc. (NYSE:TOST) in the 1st quarter, HoldingsChannel reports. The fund acquired 46,639 shares of the company’s stock, valued at approximately $1,236,000.

Several other institutional investors have also recently added to or reduced their stakes in TOST. BOKF NA boosted its holdings in Toast by 4.5% in the third quarter. BOKF NA now owns 8,023 shares of the company’s stock valued at $293,000 after purchasing an additional 345 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of Toast by 0.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 67,909 shares of the company’s stock worth $1,800,000 after buying an additional 358 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Toast by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock valued at $1,012,000 after buying an additional 380 shares in the last quarter. Seven Mile Advisory boosted its holdings in shares of Toast by 3.1% in the 3rd quarter. Seven Mile Advisory now owns 12,689 shares of the company’s stock valued at $463,000 after buying an additional 381 shares in the last quarter. Finally, HM Payson & Co. grew its position in shares of Toast by 6.2% in the 4th quarter. HM Payson & Co. now owns 6,742 shares of the company’s stock valued at $239,000 after buying an additional 392 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on TOST. Rothschild & Co Redburn reiterated a “neutral” rating and set a $35.00 price target on shares of Toast in a research note on Tuesday, May 12th. Citigroup dropped their price objective on Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Truist Financial lifted their target price on Toast from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday. Zacks Research downgraded Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Finally, Morgan Stanley set a $45.00 target price on Toast in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.08.

Toast Trading Up 6.2%

Toast stock opened at $30.83 on Tuesday. The stock has a market capitalization of $15.91 billion, a price-to-earnings ratio of 47.43 and a beta of 1.74. The stock has a 50 day moving average of $26.72 and a two-hundred day moving average of $27.96. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $49.66.

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

Insider Activity

In other Toast news, General Counsel Brian R. Elworthy sold 108,000 shares of the business’s stock in a transaction on 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 directly owned 189,642 shares in the company, valued at approximately $4,909,831.38. The trade was a 36.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Vassil sold 6,647 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $191,765.95. Following the sale, the executive directly owned 69,966 shares in the company, valued at $2,018,519.10. This trade represents a 8.68% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 159,265 shares of company stock valued at $4,278,832 over the last ninety days. 10.03% of the stock is currently owned by company insiders.

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.