D.A. Davidson & CO. Purchases 24,868 Shares of Toast, Inc. $TOST

D.A. Davidson & CO. grew its holdings in Toast, Inc. (NYSE:TOST) by 52.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 72,079 shares of the company’s stock after buying an additional 24,868 shares during the quarter. D.A. Davidson & CO.’s holdings in Toast were worth $1,911,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bayban bought a new position in shares of Toast during the fourth quarter valued at approximately $25,000. SHP Wealth Management purchased a new position in shares of Toast in the fourth quarter worth approximately $29,000. Strive Financial Group LLC purchased a new position in shares of Toast during the 4th quarter worth $29,000. Central Pacific Bank Trust Division grew its stake in shares of Toast by 123.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after acquiring an additional 521 shares during the period. Finally, Silicon Valley Capital Partners purchased a new stake in shares of Toast in the fourth quarter worth $36,000. Institutional investors own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley set a $45.00 target price on shares of Toast in a research report on Friday, May 8th. UBS Group decreased their price objective on Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Barclays began coverage on shares of Toast in a research note on Tuesday, July 7th. They issued an “overweight” rating and a $35.00 target price on the stock. Citigroup cut their price objective on Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Robert W. Baird lifted their price target on shares of Toast from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.96.

Toast Trading Down 1.5%

NYSE:TOST opened at $30.40 on Wednesday. The firm has a fifty day simple moving average of $26.19 and a 200-day simple moving average of $28.12. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $49.66. The company has a market capitalization of $15.69 billion, a P/E ratio of 46.77 and a beta of 1.74.

Toast (NYSE:TOST) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.08). Toast had a net margin of 6.39% and a return on equity of 20.86%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the firm posted $0.09 EPS. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. Equities analysts forecast that Toast, Inc. will post 0.97 EPS for the current year.

Insider Buying and Selling

In related news, CEO Aman Narang sold 14,365 shares of Toast stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total transaction of $414,430.25. Following the completion of the transaction, the chief executive officer directly owned 70,451 shares in the company, valued at approximately $2,032,511.35. This trade represents a 16.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Jonathan Vassil sold 3,150 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $30.03, for a total transaction of $94,594.50. Following the completion of the transaction, the executive owned 69,966 shares of the company’s stock, valued at approximately $2,101,078.98. This represents a 4.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 159,265 shares of company stock valued at $4,278,832 in the last 90 days. 10.03% of the stock is currently owned by insiders.

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.