HB Wealth Management LLC Cuts Stock Holdings in Toast, Inc. $TOST

HB Wealth Management LLC decreased its holdings in shares of Toast, Inc. (NYSE:TOST) by 53.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,986 shares of the company’s stock after selling 5,766 shares during the quarter. HB Wealth Management LLC’s holdings in Toast were worth $221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TOST. Wayfinding Financial LLC purchased a new stake in shares of Toast during the first quarter valued at approximately $34,000. West Branch Capital LLC boosted its stake in shares of Toast by 862.1% during the first quarter. West Branch Capital LLC now owns 1,116 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares during the period. SBI Securities Co. Ltd. boosted its stake in shares of Toast by 29.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock valued at $42,000 after purchasing an additional 284 shares during the period. Signaturefd LLC boosted its stake in shares of Toast by 227.1% during the first quarter. Signaturefd LLC now owns 1,472 shares of the company’s stock valued at $49,000 after purchasing an additional 1,022 shares during the period. Finally, Proathlete Wealth Management LLC purchased a new stake in shares of Toast during the first quarter valued at approximately $50,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Transactions at Toast

In other news, General Counsel Brian R. Elworthy sold 4,987 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $177,337.72. Following the sale, the general counsel directly owned 227,924 shares of the company’s stock, valued at approximately $8,104,977.44. This represents a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Jonathan Vassil sold 6,530 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive directly owned 69,932 shares in the company, valued at $2,486,781.92. This trade represents a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,196 shares of company stock valued at $2,398,513. 12.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on TOST shares. Deutsche Bank Aktiengesellschaft started coverage on Toast in a research note on Thursday, July 17th. They set a “buy” rating and a $54.00 price objective for the company. Wall Street Zen raised Toast from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Morgan Stanley upped their target price on Toast from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Weiss Ratings restated a “hold (c)” rating on shares of Toast in a report on Saturday, September 27th. Finally, Citigroup restated a “buy” rating on shares of Toast in a report on Wednesday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.78.

Toast Trading Up 0.6%

NYSE TOST opened at $37.19 on Wednesday. Toast, Inc. has a 12 month low of $27.65 and a 12 month high of $49.66. The stock has a market cap of $18.96 billion, a P/E ratio of 109.37 and a beta of 1.94. The stock’s fifty day moving average price is $41.85 and its 200-day moving average price is $40.84.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 5th. The company reported $0.13 EPS 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 during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the company posted $0.02 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. As a group, analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

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.