SG Americas Securities LLC Buys 30,001 Shares of Toast, Inc. $TOST

SG Americas Securities LLC increased its stake in shares of Toast, Inc. (NYSE:TOST) by 66.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 74,827 shares of the company’s stock after purchasing an additional 30,001 shares during the quarter. SG Americas Securities LLC’s holdings in Toast were worth $2,732,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Roundview Capital LLC lifted its position in Toast by 0.6% in the second quarter. Roundview Capital LLC now owns 43,619 shares of the company’s stock worth $1,932,000 after buying an additional 245 shares during the last quarter. Cim LLC raised its stake in shares of Toast by 0.7% in the second quarter. Cim LLC now owns 38,302 shares of the company’s stock valued at $1,696,000 after acquiring an additional 273 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Toast by 7.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,139 shares of the company’s stock worth $183,000 after acquiring an additional 278 shares during the last quarter. True Vision MN LLC boosted its stake in shares of Toast by 3.6% during the 2nd quarter. True Vision MN LLC now owns 8,186 shares of the company’s stock worth $363,000 after purchasing an additional 285 shares during the period. Finally, Trinity Financial Advisors LLC boosted its stake in shares of Toast by 2.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 12,094 shares of the company’s stock worth $442,000 after purchasing an additional 296 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Activity at Toast

In other news, CEO Aman Narang sold 8,591 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $295,358.58. Following the transaction, the chief executive officer directly owned 338,850 shares in the company, valued at approximately $11,649,663. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Fredette sold 4,866 shares of Toast stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $167,293.08. Following the transaction, the president directly owned 910,606 shares in the company, valued at approximately $31,306,634.28. The trade was a 0.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 102,595 shares of company stock worth $3,634,737 over the last quarter. Corporate insiders own 12.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Robert W. Baird decreased their price objective on shares of Toast from $48.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Wall Street Zen raised Toast from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Jefferies Financial Group dropped their price objective on Toast from $54.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Keefe, Bruyette & Woods reduced their target price on Toast from $50.00 to $42.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company upgraded Toast to a “strong-buy” rating in a research report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $45.27.

Toast Stock Down 4.0%

TOST opened at $34.77 on Wednesday. The stock’s fifty day moving average is $35.48 and its two-hundred day moving average is $39.50. The company has a market capitalization of $17.90 billion, a P/E ratio of 80.85 and a beta of 1.93. Toast, Inc. has a 52 week low of $28.12 and a 52 week high of $49.66.

Toast (NYSE:TOST) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. Toast had a return on equity of 15.77% and a net margin of 4.68%.Toast’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. Equities analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current year.

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.