Globeflex Capital L P Acquires 38,805 Shares of Toast, Inc. $TOST

Globeflex Capital L P increased its holdings in Toast, Inc. (NYSE:TOST) by 31.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 162,251 shares of the company’s stock after purchasing an additional 38,805 shares during the period. Globeflex Capital L P’s holdings in Toast were worth $4,301,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bayban purchased a new stake in Toast during the fourth quarter valued at about $25,000. SHP Wealth Management purchased a new stake in Toast during the 4th quarter valued at about $29,000. Strive Financial Group LLC purchased a new stake in Toast during the 4th quarter valued at about $29,000. Silicon Valley Capital Partners bought a new position in Toast during the 4th quarter worth approximately $36,000. Finally, Quadrant Capital Group LLC increased its stake in Toast by 2,083.3% in 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 during the period. Institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

Shares of TOST stock opened at $29.22 on Thursday. The firm has a market cap of $15.08 billion, a P/E ratio of 44.95 and a beta of 1.74. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $49.66. The business’s 50 day moving average price is $26.33 and its 200-day moving average price is $28.08.

Toast (NYSE:TOST) last announced its earnings results on Thursday, May 7th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). Toast had a net margin of 6.39% and a return on equity of 20.86%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the company earned $0.09 EPS. Toast’s revenue was up 21.9% compared to the same quarter last year. As a group, equities analysts predict that Toast, Inc. will post 0.97 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wall Street Zen lowered Toast from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Rothschild & Co Redburn reaffirmed a “neutral” rating and issued a $35.00 target price on shares of Toast in a research note on Tuesday, May 12th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toast in a research note on Monday, June 1st. Mizuho lowered their price target on shares of Toast from $45.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Finally, The Goldman Sachs Group raised shares of Toast from a “neutral” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.96.

Insiders Place Their Bets

In other Toast news, CEO Aman Narang sold 14,365 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 transaction of $414,430.25. Following the sale, the chief executive officer directly owned 70,451 shares of the company’s stock, valued at approximately $2,032,511.35. The trade was a 16.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Brian R. Elworthy sold 6,352 shares of the company’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 value of $183,255.20. Following the transaction, the general counsel owned 196,909 shares in the company, valued at $5,680,824.65. This trade represents a 3.13% decrease in their position. 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. Insiders sold a total of 159,265 shares of company stock valued at $4,278,832 over the last ninety days. 10.03% of the stock is owned by corporate insiders.

Toast Company Profile

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.