Carnegie Investment Counsel Acquires 28,850 Shares of Toast, Inc. $TOST

Carnegie Investment Counsel raised its holdings in Toast, Inc. (NYSE:TOST) by 14.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 230,480 shares of the company’s stock after acquiring an additional 28,850 shares during the quarter. Carnegie Investment Counsel’s holdings in Toast were worth $8,415,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TOST. RiverPark Advisors LLC bought a new position in shares of Toast during the 2nd quarter valued at $30,000. Ameritas Advisory Services LLC acquired a new position in Toast during the second quarter worth $31,000. REAP Financial Group LLC raised its holdings in Toast by 173.3% during the second quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock valued at $35,000 after buying an additional 506 shares in the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Toast in the second quarter worth about $42,000. Finally, Motco acquired a new stake in shares of Toast in the second quarter worth about $44,000. 82.91% of the stock is owned by institutional investors.

Toast Price Performance

NYSE:TOST opened at $36.45 on Friday. Toast, Inc. has a one year low of $28.12 and a one year high of $49.66. The company has a fifty day moving average price of $35.83 and a 200 day moving average price of $40.12. The stock has a market cap of $18.77 billion, a P/E ratio of 84.76 and a beta of 1.94.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. Toast had a return on equity of 15.77% and a net margin of 4.68%.The business’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 EPS. As a group, equities research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Insider Buying and Selling

In other news, CFO Elena Gomez sold 2,021 shares of Toast stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total transaction of $71,826.34. Following the sale, the chief financial officer owned 151,463 shares of the company’s stock, valued at approximately $5,382,995.02. This trade represents a 1.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Brian R. Elworthy sold 1,059 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total value of $37,636.86. Following the completion of the transaction, the general counsel owned 229,017 shares of the company’s stock, valued at $8,139,264.18. The trade was a 0.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 49,759 shares of company stock worth $1,769,270. 12.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on TOST shares. Citigroup raised Toast to a “strong-buy” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. raised shares of Toast from a “neutral” rating to an “overweight” rating and set a $43.00 price target on the stock in a research report on Thursday, December 4th. Keefe, Bruyette & Woods decreased their price objective on shares of Toast from $50.00 to $42.00 and set a “market perform” rating for the company in a report on Wednesday, October 1st. Royal Bank Of Canada set a $45.00 target price on shares of Toast in a research note on Wednesday, November 5th. Finally, Robert W. Baird cut their target price on shares of Toast from $48.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $45.18.

Toast Company 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.