Cygnus Capital Advisors LLC Purchases Shares of 23,000 Toast, Inc. $TOST

Cygnus Capital Advisors LLC purchased a new position in shares of Toast, Inc. (NYSE:TOST) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,000 shares of the company’s stock, valued at approximately $640,000.

A number of other large investors also recently modified their holdings of TOST. HB Wealth Management LLC grew its holdings in Toast by 2.5% during the second quarter. HB Wealth Management LLC now owns 12,748 shares of the company’s stock worth $355,000 after acquiring an additional 315 shares during the period. BOKF NA lifted its holdings in Toast by 4.5% in the 3rd quarter. BOKF NA now owns 8,023 shares of the company’s stock valued at $293,000 after acquiring an additional 345 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in Toast by 0.5% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 67,909 shares of the company’s stock valued at $1,800,000 after acquiring an additional 358 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Toast by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock valued at $1,012,000 after purchasing an additional 380 shares in the last quarter. Finally, Seven Mile Advisory grew its stake in shares of Toast by 3.1% in the 3rd quarter. Seven Mile Advisory now owns 12,689 shares of the company’s stock worth $463,000 after purchasing an additional 381 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Toast news, CEO Aman Narang sold 119,843 shares of Toast stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $35.38, for a total transaction of $4,240,045.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Elena Gomez sold 5,761 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $35.37, for a total value of $203,766.57. Following the completion of the transaction, the chief financial officer owned 160,150 shares in the company, valued at $5,664,505.50. This represents a 3.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 522,533 shares of company stock valued at $18,172,786. Corporate insiders own 10.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on TOST shares. BNP Paribas Exane downgraded shares of Toast from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $38.00 to $35.00 in a report on Wednesday, September 2nd. BTIG Research restated a “neutral” rating on shares of Toast in a report on Thursday, August 27th. Citigroup lifted their price target on shares of Toast from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Robert W. Baird upped their price target on Toast from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Finally, Zacks Research downgraded Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Sixteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.12.

Toast Stock Performance

NYSE TOST opened at $33.94 on Tuesday. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $42.15. The stock has a market cap of $17.45 billion, a price-to-earnings ratio of 43.51 and a beta of 1.72. The firm’s 50 day moving average price is $32.52 and its two-hundred day moving average price is $28.59.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Toast had a net margin of 7.14% and a return on equity of 23.90%. Toast’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 EPS. On average, research analysts forecast that Toast, Inc. will post 1 EPS for the current fiscal year.

Toast 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.