Cygnus Capital Advisors LLC Acquires New Holdings in Toast, Inc. $TOST

Cygnus Capital Advisors LLC bought a new stake in shares of Toast, Inc. (NYSE:TOST) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 23,000 shares of the company’s stock, valued at approximately $640,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its position in shares of Toast by 2,643.0% in the second quarter. California State Teachers Retirement System now owns 17,903,895 shares of the company’s stock valued at $498,086,000 after purchasing an additional 17,251,171 shares during the last quarter. Morgan Stanley raised its position in shares of Toast by 6.7% during the 4th quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock worth $368,332,000 after purchasing an additional 653,487 shares during the last quarter. State Street Corp lifted its stake in Toast by 3.0% in the 4th quarter. State Street Corp now owns 9,820,594 shares of the company’s stock valued at $348,729,000 after buying an additional 282,282 shares in the last quarter. XN LP lifted its stake in Toast by 50.8% in the 4th quarter. XN LP now owns 8,988,386 shares of the company’s stock valued at $319,178,000 after buying an additional 3,029,856 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Toast by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company’s stock valued at $307,214,000 after buying an additional 169,230 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Aman Narang sold 119,843 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $35.38, for a total transaction of $4,240,045.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Elena Gomez sold 5,761 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $35.37, for a total transaction of $203,766.57. Following the completion of the sale, the chief financial officer directly owned 160,150 shares in the company, valued at $5,664,505.50. This represents a 3.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 522,533 shares of company stock valued at $18,172,786. Insiders own 10.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on TOST. Sanford C. Bernstein raised their price target on Toast from $39.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a research note on Monday, August 17th. Royal Bank Of Canada increased their price objective on Toast from $36.00 to $44.00 and gave the company a “sector perform” rating in a research note on Monday, August 31st. Keefe, Bruyette & Woods lifted their price objective on Toast from $30.00 to $35.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 5th. Finally, Piper Sandler boosted their target price on shares of Toast from $32.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Sixteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.12.

Toast Stock Down 0.0%

Shares of Toast stock opened at $33.94 on Tuesday. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $42.15. The firm has a market cap of $17.45 billion, a PE ratio of 43.51 and a beta of 1.72. The business’s fifty day moving average is $32.52 and its two-hundred day moving average is $28.59.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Toast had a net margin of 7.14% and a return on equity of 23.90%. Toast’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. Equities research analysts anticipate that Toast, Inc. will post 1 EPS for the current year.

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.