Lido Advisors LLC Buys 82,714 Shares of Toast, Inc. $TOST

Lido Advisors LLC grew its position in Toast, Inc. (NYSE:TOST) by 214.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 121,208 shares of the company’s stock after purchasing an additional 82,714 shares during the period. Lido Advisors LLC’s holdings in Toast were worth $3,213,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Jennison Associates LLC boosted its position in Toast by 1.0% in the fourth quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock valued at $538,259,000 after buying an additional 157,394 shares in the last quarter. Morgan Stanley increased its holdings in shares of Toast by 6.7% during the fourth quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock worth $368,332,000 after buying an additional 653,487 shares in the last quarter. State Street Corp raised its stake in shares of Toast by 3.0% in the fourth quarter. State Street Corp now owns 9,820,594 shares of the company’s stock valued at $348,729,000 after acquiring an additional 282,282 shares during the last quarter. XN LP raised its stake in shares of Toast by 50.8% in the fourth quarter. XN LP now owns 8,988,386 shares of the company’s stock valued at $319,178,000 after acquiring an additional 3,029,856 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Toast by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company’s stock worth $307,214,000 after acquiring an additional 169,230 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In related news, General Counsel Brian R. Elworthy sold 108,000 shares of Toast stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $25.89, for a total value of $2,796,120.00. Following the completion of the sale, the general counsel directly owned 189,642 shares in the company, valued at $4,909,831.38. This trade represents a 36.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 14,365 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $414,430.25. Following the sale, the chief executive officer directly owned 70,451 shares of the company’s stock, valued at $2,032,511.35. This represents a 16.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 159,265 shares of company stock valued at $4,278,832 over the last ninety days. Company insiders own 10.03% of the company’s stock.

Toast Price Performance

TOST stock opened at $29.07 on Friday. The company has a 50 day moving average price of $26.56 and a 200 day moving average price of $28.05. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $49.66. The stock has a market capitalization of $15.00 billion, a PE ratio of 44.72 and a beta of 1.74.

Toast (NYSE:TOST) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.20 EPS 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 the consensus estimate of $1.63 billion. Toast had a net margin of 6.39% and a return on equity of 20.86%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 earnings per share. As a group, equities analysts expect that Toast, Inc. will post 0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays initiated coverage on Toast in a research report on Tuesday, July 7th. They set an “overweight” rating and a $35.00 price target on the stock. The Goldman Sachs Group raised Toast from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Thursday, July 9th. Weiss Ratings restated a “hold (c)” rating on shares of Toast in a report on Wednesday, May 20th. Piper Sandler started coverage on Toast in a research note on Wednesday, June 10th. They issued an “overweight” rating and a $32.00 target price for the company. Finally, Truist Financial lifted their price target on Toast from $30.00 to $33.00 and gave the company a “buy” rating in a report on Friday. 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 stock. According to data from MarketBeat.com, Toast presently has an average rating of “Moderate Buy” and a consensus target price of $37.08.

Toast 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.