1,306,362 Shares in Toast, Inc. $TOST Purchased by Lead Edge Capital Management LLC

Lead Edge Capital Management LLC acquired a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,306,362 shares of the company's stock, valued at approximately $34,632,000. Toast makes up approximately 8.5% of Lead Edge Capital Management LLC's holdings, making the stock its 6th largest position. Lead Edge Capital Management LLC owned approximately 0.25% of Toast at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TOST. Bayban bought a new stake in shares of Toast during the 4th quarter worth approximately $25,000. SHP Wealth Management bought a new position in Toast in the fourth quarter valued at approximately $29,000. Strive Financial Group LLC bought a new position in Toast in the fourth quarter valued at approximately $29,000. Silicon Valley Capital Partners acquired a new position in Toast during the fourth quarter valued at approximately $36,000. Finally, Quadrant Capital Group LLC raised its position in 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 purchasing an additional 1,000 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Toast Trading Up 2.3%

NYSE TOST opened at $29.07 on Friday. The business's 50-day moving average price is $26.56 and its two-hundred day moving average price is $28.05. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $49.66. The firm has a market capitalization of $15.00 billion, a PE ratio of 44.72 and a beta of 1.74.

Toast (NYSE:TOST - Get Free Report) last issued 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). The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. Toast had a net margin of 6.39% and a return on equity of 20.86%. The company's quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. As a group, analysts forecast that Toast, Inc. will post 0.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Oppenheimer reaffirmed an "outperform" rating and issued a $36.00 target price on shares of Toast in a report on Friday, May 8th. Truist Financial upped their price objective on Toast from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday. UBS Group reduced their price objective on Toast from $40.00 to $34.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Morgan Stanley set a $45.00 target price on Toast in a research report on Friday, May 8th. Finally, Zacks Research cut shares of Toast from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Toast has a consensus rating of "Moderate Buy" and an average price target of $37.08.

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 9,146 shares of the company's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total value of $263,862.10. Following the sale, the president directly owned 931,449 shares of the company's stock, valued at approximately $26,872,303.65. This represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Brian R. Elworthy sold 6,352 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total transaction of $183,255.20. Following the sale, the general counsel 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 159,265 shares of company stock worth $4,278,832. Company insiders own 10.03% of the company's stock.

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.

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