Toast, Inc. $TOST Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. grew its stake in shares of Toast, Inc. (NYSE:TOST) by 88.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 189,366 shares of the company’s stock after buying an additional 88,858 shares during the period. Edgestream Partners L.P.’s holdings in Toast were worth $5,020,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Bayban acquired a new position in Toast in the fourth quarter valued at $25,000. SHP Wealth Management purchased a new position in shares of Toast in the 4th quarter worth about $29,000. Strive Financial Group LLC acquired a new position in shares of Toast in the 4th quarter valued at about $29,000. Silicon Valley Capital Partners purchased a new stake in shares of Toast during the 4th quarter worth about $36,000. Finally, Quadrant Capital Group LLC increased its position in Toast by 2,083.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,048 shares of the company’s stock worth $37,000 after purchasing an additional 1,000 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TOST has been the topic of a number of recent research reports. Mizuho reduced their price target on shares of Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. DA Davidson lifted their target price on shares of Toast from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays assumed coverage on shares of Toast in a report on Tuesday, July 7th. They set an “overweight” rating and a $35.00 target price on the stock. Morgan Stanley set a $45.00 price target on shares of Toast in a research report on Friday, May 8th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Toast in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Toast has an average rating of “Moderate Buy” and a consensus target price of $37.15.

Toast Price Performance

Toast stock opened at $32.38 on Friday. Toast, Inc. has a 12-month low of $22.26 and a 12-month high of $49.66. The company has a market capitalization of $16.71 billion, a price-to-earnings ratio of 49.82 and a beta of 1.74. The firm’s fifty day moving average price is $27.47 and its 200 day moving average price is $27.92.

Toast (NYSE:TOST) last posted its quarterly earnings data 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 firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Toast had a net margin of 6.39% and a return on equity of 20.86%. The business’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 earnings per share. Analysts forecast that Toast, Inc. will post 0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Toast news, CEO Aman Narang sold 14,365 shares of the firm’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 transaction of $414,430.25. Following the completion of the sale, the chief executive officer owned 70,451 shares in the company, valued at $2,032,511.35. This trade represents a 16.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Stephen Fredette sold 9,146 shares of Toast 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 $263,862.10. Following the sale, the president owned 931,449 shares in the company, valued at $26,872,303.65. This represents a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 159,265 shares of company stock valued at $4,278,832. Insiders own 10.03% of the company’s stock.

About Toast

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.