State of Wyoming Boosts Stake in Toast, Inc. $TOST

State of Wyoming grew its stake in shares of Toast, Inc. (NYSE:TOST) by 76.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,738 shares of the company’s stock after buying an additional 33,303 shares during the period. Toast accounts for 0.2% of State of Wyoming’s investment portfolio, making the stock its 28th biggest position. State of Wyoming’s holdings in Toast were worth $2,034,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in TOST. Bayban purchased a new stake in Toast during the 4th quarter worth about $25,000. SHP Wealth Management purchased a new position in Toast in the 4th quarter valued at about $29,000. Strive Financial Group LLC acquired a new stake in shares of Toast during the 4th quarter worth about $29,000. Silicon Valley Capital Partners acquired a new stake in shares of Toast during the 4th quarter worth about $36,000. Finally, Quadrant Capital Group LLC grew 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 worth $37,000 after buying an additional 1,000 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group raised shares of Toast from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Thursday, July 9th. Robert W. Baird lifted their target price on shares of Toast from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Zacks Research downgraded Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. BMO Capital Markets reissued an “outperform” rating on shares of Toast in a research note on Monday, June 1st. Finally, Citigroup decreased their price objective on Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.96.

Insider Buying and Selling at Toast

In related news, President Stephen Fredette sold 9,146 shares of Toast stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $263,862.10. Following the transaction, the president owned 931,449 shares in the company, valued at approximately $26,872,303.65. This trade represents a 0.97% 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 the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Elena Gomez sold 11,605 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 $334,804.25. Following the sale, the chief financial officer directly owned 185,150 shares of the company’s stock, valued at approximately $5,341,577.50. This trade represents a 5.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 159,265 shares of company stock worth $4,278,832. 10.03% of the stock is currently owned by company insiders.

Toast Stock Performance

TOST opened at $29.22 on Thursday. The company’s 50 day simple moving average is $26.33 and its 200 day simple moving average is $28.08. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $49.66. The stock has a market capitalization of $15.08 billion, a PE ratio of 44.95 and a beta of 1.74.

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

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.