Farther Finance Advisors LLC Raises Stock Position in Toast, Inc. $TOST

Farther Finance Advisors LLC grew its position in Toast, Inc. (NYSE:TOST) by 61.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,092 shares of the company’s stock after buying an additional 1,941 shares during the quarter. Farther Finance Advisors LLC’s holdings in Toast were worth $226,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new position in shares of Toast during the first quarter valued at approximately $34,000. Piscataqua Savings Bank lifted its holdings in Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company’s stock worth $36,000 after buying an additional 400 shares during the period. West Branch Capital LLC lifted its holdings in Toast by 862.1% during 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 period. SBI Securities Co. Ltd. raised its position in shares of Toast by 29.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock worth $42,000 after acquiring an additional 284 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Toast by 227.1% in the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company’s stock worth $49,000 after acquiring an additional 1,022 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Aman Narang sold 1,719 shares of Toast stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total value of $83,165.22. Following the completion of the transaction, the chief executive officer directly owned 304,300 shares in the company, valued at approximately $14,722,034. This trade represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul D. Bell sold 12,500 shares of the stock in a transaction dated Thursday, August 21st. The shares were 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 $9,615,682.96. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,423 shares of company stock valued at $913,065. Insiders own 12.14% of the company’s stock.

Toast Stock Performance

Shares of TOST opened at $36.48 on Wednesday. The stock has a market capitalization of $18.60 billion, a price-to-earnings ratio of 107.29 and a beta of 2.00. Toast, Inc. has a one year low of $26.91 and a one year high of $49.66. The stock has a 50 day moving average price of $43.04 and a 200 day moving average price of $40.78.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). Toast had a return on equity of 14.19% and a net margin of 4.07%.The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the firm posted $0.02 EPS. The business’s quarterly revenue was up 24.8% on a year-over-year basis. On average, analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Barclays reissued an “overweight” rating on shares of Toast in a research report on Wednesday, July 16th. Wall Street Zen downgraded Toast from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. JPMorgan Chase & Co. raised their price target on Toast from $42.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Truist Financial raised their price target on Toast from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Finally, DA Davidson increased their price objective on shares of Toast from $40.00 to $46.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. Fifteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Toast presently has a consensus rating of “Moderate Buy” and an average target price of $46.65.

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.