1620 Investment Advisors Inc. Makes New $34,000 Investment in Toast, Inc. (NYSE:TOST)

1620 Investment Advisors Inc. bought a new position in shares of Toast, Inc. (NYSE:TOST) during the second quarter, HoldingsChannel.com reports. The firm bought 1,304 shares of the company’s stock, valued at approximately $34,000.

Several other hedge funds also recently made changes to their positions in the business. LRI Investments LLC acquired a new stake in Toast during the first quarter worth about $27,000. Principal Securities Inc. acquired a new stake in shares of Toast during the 4th quarter worth approximately $30,000. Cape Investment Advisory Inc. bought a new position in Toast in the fourth quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Toast during the second quarter valued at approximately $33,000. Finally, Harbor Investment Advisory LLC bought a new stake in Toast during the first quarter worth $37,000. 82.91% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Aman Narang sold 6,355 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total transaction of $162,942.20. Following the completion of the sale, the chief executive officer now owns 1,131,043 shares of the company’s stock, valued at approximately $28,999,942.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Toast news, President Stephen Fredette sold 3,810 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total value of $97,688.40. Following the transaction, the president now owns 2,847,315 shares in the company, valued at $73,005,156.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Aman Narang sold 6,355 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total value of $162,942.20. Following the sale, the chief executive officer now owns 1,131,043 shares of the company’s stock, valued at approximately $28,999,942.52. The disclosure for this sale can be found here. Insiders have sold 418,352 shares of company stock valued at $10,526,982 in the last ninety days. 13.32% of the stock is owned by company insiders.

Toast Stock Down 2.7 %

Toast stock traded down $0.65 during mid-day trading on Thursday, hitting $23.56. 3,496,002 shares of the stock were exchanged, compared to its average volume of 7,722,470. The stock has a market capitalization of $10.86 billion, a price-to-earnings ratio of -47.12 and a beta of 1.76. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $27.90. The firm’s fifty day simple moving average is $25.07 and its two-hundred day simple moving average is $23.98.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. Toast’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.19) earnings per share. As a group, analysts forecast that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Toast from $17.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday, May 8th. Baird R W cut shares of Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $27.00 price target on shares of Toast in a report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of Toast in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $28.22.

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.