Harbor Investment Advisory LLC Purchases 10,140 Shares of Toast, Inc. $TOST

Harbor Investment Advisory LLC increased its position in Toast, Inc. (NYSE:TOST) by 1,352.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,890 shares of the company’s stock after acquiring an additional 10,140 shares during the period. Harbor Investment Advisory LLC’s holdings in Toast were worth $482,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TOST. Wayfinding Financial LLC purchased a new position in Toast in the first quarter worth about $34,000. Piscataqua Savings Bank lifted its stake in shares of Toast by 57.1% in the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company’s stock worth $36,000 after purchasing an additional 400 shares during the period. West Branch Capital LLC boosted its holdings in shares of Toast by 862.1% in the first 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 last quarter. SBI Securities Co. Ltd. grew its position in Toast by 29.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock valued at $42,000 after buying an additional 284 shares during the period. Finally, Signaturefd LLC increased its holdings in Toast by 227.1% during the first quarter. Signaturefd LLC now owns 1,472 shares of the company’s stock valued at $49,000 after buying an additional 1,022 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Activity

In other Toast news, President Stephen Fredette sold 7,647 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total transaction of $325,685.73. Following the completion of the transaction, the president owned 889,017 shares in the company, valued at $37,863,234.03. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul D. Bell sold 12,500 shares of Toast stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $42.38, for a total value of $529,750.00. Following the completion of the sale, the director directly owned 226,892 shares in the company, valued at approximately $9,615,682.96. The trade was a 5.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,342 shares of company stock valued at $3,804,710. 12.14% of the stock is owned by corporate insiders.

Toast Price Performance

TOST stock opened at $40.00 on Monday. Toast, Inc. has a 1-year low of $25.96 and a 1-year high of $49.66. The business has a 50 day simple moving average of $44.60 and a two-hundred day simple moving average of $40.50. The company has a market capitalization of $20.40 billion, a price-to-earnings ratio of 117.65 and a beta of 2.00.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Toast had a return on equity of 14.19% and a net margin of 4.07%.Toast’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period last year, the firm posted $0.02 EPS. Sell-side analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Toast from $47.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 6th. Needham & Company LLC lifted their target price on Toast from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Canaccord Genuity Group boosted their price target on Toast from $48.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Toast in a research note on Thursday, July 17th. They issued a “buy” rating and a $54.00 price objective on the stock. Finally, Morgan Stanley boosted their price objective on Toast from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.54.

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.