Cherry Creek Investment Advisors Inc. Invests $221,000 in Toast, Inc. $TOST

Cherry Creek Investment Advisors Inc. acquired a new position in shares of Toast, Inc. (NYSE:TOST) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,000 shares of the company’s stock, valued at approximately $221,000.

Other large investors have also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd lifted its stake in Toast by 29.2% during the second quarter. IFM Investors Pty Ltd now owns 83,803 shares of the company’s stock worth $3,712,000 after purchasing an additional 18,950 shares during the last quarter. K.J. Harrison & Partners Inc bought a new position in Toast during the second quarter worth $1,329,000. Charles Schwab Investment Management Inc. lifted its stake in Toast by 5.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,092,210 shares of the company’s stock worth $102,569,000 after purchasing an additional 153,723 shares during the last quarter. Comerica Bank lifted its stake in Toast by 122.9% during the first quarter. Comerica Bank now owns 76,644 shares of the company’s stock worth $2,542,000 after purchasing an additional 42,266 shares during the last quarter. Finally, Graham Capital Management L.P. lifted its stake in Toast by 373.5% during the first quarter. Graham Capital Management L.P. now owns 43,778 shares of the company’s stock worth $1,452,000 after purchasing an additional 34,532 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.

Toast Stock Down 0.1%

Shares of NYSE TOST opened at $35.69 on Wednesday. Toast, Inc. has a fifty-two week low of $28.12 and a fifty-two week high of $49.66. The firm’s 50-day simple moving average is $38.76 and its 200 day simple moving average is $41.40. The stock has a market cap of $18.20 billion, a P/E ratio of 104.98 and a beta of 1.94.

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

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 7,550 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $268,478.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Jonathan Vassil sold 6,530 shares of the business’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 $232,206.80. Following the completion of the sale, the executive owned 69,932 shares in the company, valued at approximately $2,486,781.92. This trade represents a 8.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 54,273 shares of company stock valued at $2,015,198. 12.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a research report on Wednesday, October 8th. Truist Financial set a $47.00 target price on Toast in a research report on Friday, October 24th. Morgan Stanley increased their target price on Toast from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. The Goldman Sachs Group dropped their target price on Toast from $51.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, Needham & Company LLC increased their target price on Toast from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.