Janney Montgomery Scott LLC Increases Stock Position in Toast, Inc. $TOST

Janney Montgomery Scott LLC lifted its holdings in shares of Toast, Inc. (NYSE:TOST) by 12.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 286,358 shares of the company’s stock after buying an additional 31,167 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of Toast worth $12,683,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wayfinding Financial LLC purchased a new stake in Toast in the 1st quarter worth approximately $34,000. Piscataqua Savings Bank lifted its stake in Toast by 57.1% in the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company’s stock worth $36,000 after purchasing an additional 400 shares in the last quarter. West Branch Capital LLC lifted its stake in Toast by 862.1% in the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company’s stock worth $37,000 after purchasing an additional 1,000 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in 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 purchasing an additional 284 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Toast by 227.1% in the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company’s stock worth $49,000 after purchasing an additional 1,022 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TOST shares. Keefe, Bruyette & Woods lowered their target price on shares of Toast from $50.00 to $42.00 and set a “market perform” rating on the stock in a research note on Wednesday. DA Davidson increased their target price on shares of Toast from $40.00 to $46.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Toast in a research note on Saturday, September 27th. The Goldman Sachs Group raised their price objective on shares of Toast from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Toast in a research report on Thursday, July 17th. They set a “buy” rating and a $54.00 price objective on the stock. Fifteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, Toast presently has a consensus rating of “Moderate Buy” and an average price target of $46.30.

Toast Stock Up 1.3%

Shares of Toast stock opened at $36.58 on Friday. The firm has a market cap of $18.66 billion, a PE ratio of 107.60 and a beta of 1.94. Toast, Inc. has a 12-month low of $27.65 and a 12-month high of $49.66. The company’s fifty day simple moving average is $42.32 and its two-hundred day simple moving average is $40.78.

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

Insiders Place Their Bets

In other Toast news, CRO Jonathan Vassil sold 6,530 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $232,206.80. Following the sale, the executive owned 69,932 shares of the company’s stock, valued at $2,486,781.92. This trade represents a 8.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elena Gomez sold 9,054 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $321,960.24. Following the completion of the sale, the chief financial officer directly owned 149,572 shares in the company, valued at approximately $5,318,780.32. This trade represents a 5.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,196 shares of company stock worth $2,398,513. 12.14% of the stock is currently owned by insiders.

Toast Profile

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.