SteelPeak Wealth LLC Has $898,000 Stake in Toast, Inc. $TOST

SteelPeak Wealth LLC increased its stake in Toast, Inc. (NYSE:TOST) by 32.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 20,270 shares of the company’s stock after purchasing an additional 5,000 shares during the quarter. SteelPeak Wealth LLC’s holdings in Toast were worth $898,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Ameritas Advisory Services LLC acquired a new position in shares of Toast during the second quarter valued at about $31,000. Wayfinding Financial LLC bought a new stake in Toast in the 1st quarter valued at about $34,000. West Branch Capital LLC raised its stake in Toast by 862.1% during the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company’s stock worth $37,000 after buying an additional 1,000 shares during the period. SBI Securities Co. Ltd. boosted its holdings in Toast by 29.2% in the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock worth $42,000 after acquiring an additional 284 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Toast by 227.1% in the first quarter. Signaturefd LLC now owns 1,472 shares of the company’s stock valued at $49,000 after acquiring an additional 1,022 shares during the period. 82.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Elena Gomez sold 9,054 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 $321,960.24. Following the transaction, the chief financial officer directly owned 149,572 shares of the company’s stock, valued at approximately $5,318,780.32. The trade was a 5.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 7,550 shares of the stock in a transaction dated Thursday, October 2nd. The shares were 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 of the company’s stock, valued at approximately $31,949,771. The trade was a 0.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,196 shares of company stock valued at $2,398,513. 12.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TOST. Canaccord Genuity Group increased their target price on Toast from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Keefe, Bruyette & Woods lowered their price objective on shares of Toast from $50.00 to $42.00 and set a “market perform” rating on the stock in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a research note on Wednesday. Robert W. Baird decreased their target price on shares of Toast from $48.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday. Finally, The Goldman Sachs Group upped their target price on shares of Toast from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.78.

Toast Stock Performance

Toast stock opened at $36.67 on Thursday. Toast, Inc. has a fifty-two week low of $27.65 and a fifty-two week high of $49.66. The firm’s 50-day simple moving average is $41.62 and its 200 day simple moving average is $40.81. The stock has a market cap of $18.70 billion, a PE ratio of 107.85 and a beta of 1.94.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 EPS 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 firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the business posted $0.02 EPS. The company’s quarterly revenue was up 24.8% on a year-over-year basis. As a group, analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Toast Company Profile

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.