Globeflex Capital L P Grows Stock Holdings in Toast, Inc. $TOST

Globeflex Capital L P lifted its stake in Toast, Inc. (NYSE:TOST) by 31.4% during the first quarter, HoldingsChannel.com reports. The firm owned 162,251 shares of the company’s stock after purchasing an additional 38,805 shares during the quarter. Globeflex Capital L P’s holdings in Toast were worth $4,301,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TOST. Bayban purchased a new position in Toast during the fourth quarter valued at $25,000. SHP Wealth Management bought a new stake in Toast in the fourth quarter worth $29,000. Strive Financial Group LLC purchased a new stake in shares of Toast in the fourth quarter worth $29,000. Silicon Valley Capital Partners purchased a new stake in shares of Toast in the fourth quarter worth $36,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of Toast by 2,083.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,048 shares of the company’s stock valued at $37,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Stock Down 3.8%

TOST opened at $29.22 on Thursday. The stock has a market capitalization of $15.08 billion, a price-to-earnings ratio of 44.95 and a beta of 1.74. The firm has a 50 day moving average price of $26.33 and a 200-day moving average price of $28.08. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $49.66.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toast in a research report on Monday, June 1st. Loop Capital started coverage on shares of Toast in a research note on Tuesday, March 31st. They set a “hold” rating and a $26.00 price objective for the company. The Goldman Sachs Group raised shares of Toast from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a report on Thursday, July 9th. UBS Group dropped their target price on shares of Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Morgan Stanley set a $45.00 price target on shares of Toast in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Toast presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.96.

Insider Activity at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 6,352 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $183,255.20. Following the transaction, the general counsel directly owned 196,909 shares of the company’s stock, valued at approximately $5,680,824.65. This trade represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Aman Narang sold 14,365 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total value of $414,430.25. Following the sale, the chief executive officer owned 70,451 shares of the company’s stock, valued at approximately $2,032,511.35. This represents a 16.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 159,265 shares of company stock valued at $4,278,832 in the last 90 days. 10.03% of the stock is owned by company 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.