Apis Capital Advisors LLC Invests $4.64 Million in Toast, Inc. $TOST

Key Points

• Apis Capital Advisors LLC acquired 140,000 shares of Toast, Inc. during Q1, valued at approximately $4.64 million, making it the firm's 14th largest position.
• Toast's stock has received various ratings from analysts, including a price target increase from $45.00 to $51.00 by Goldman Sachs, with an overall average rating of "Moderate Buy."
• The recent earnings report for Toast showed a net margin of 4.07% and revenue growth of 24.8% year-over-year, although it missed the earnings per share consensus by $0.10.

Apis Capital Advisors LLC purchased a new stake in Toast, Inc. (NYSE:TOST - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 140,000 shares of the company's stock, valued at approximately $4,644,000. Toast accounts for about 2.2% of Apis Capital Advisors LLC's investment portfolio, making the stock its 14th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wayfinding Financial LLC acquired a new stake in Toast during the first quarter worth $34,000. Piscataqua Savings Bank lifted its position in Toast by 57.1% during the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after buying an additional 400 shares in the last quarter. West Branch Capital LLC lifted its position in Toast by 862.1% during the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after purchasing an additional 1,000 shares during the period. SBI Securities Co. Ltd. lifted its position in Toast by 29.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after purchasing an additional 284 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Toast by 227.1% in the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company's stock valued at $49,000 after acquiring an additional 1,022 shares during the last quarter. Institutional investors own 82.91% of the company's stock.

Insiders Place Their Bets

In other Toast news, Director Richard Kent Bennett sold 9,712 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $43.14, for a total value of $418,975.68. Following the transaction, the director owned 534,167 shares of the company's stock, valued at approximately $23,043,964.38. The trade was a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul D. Bell sold 12,500 shares of the company's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $42.38, for a total value of $529,750.00. Following the transaction, the director directly owned 226,892 shares in the company, valued at $9,615,682.96. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,554 shares of company stock valued at $4,553,686. 12.14% of the stock is currently owned by insiders.

Toast Trading Down 2.8%

TOST stock traded down $1.22 during mid-day trading on Wednesday, reaching $42.57. The company's stock had a trading volume of 15,358,995 shares, compared to its average volume of 7,860,675. The company has a market cap of $21.71 billion, a price-to-earnings ratio of 128.86 and a beta of 2.00. Toast, Inc. has a 12 month low of $22.91 and a 12 month high of $49.66. The business's 50 day moving average price is $44.97 and its 200 day moving average price is $40.39.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). Toast had a net margin of 4.07% and a return on equity of 14.19%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the firm earned $0.02 EPS. The company's revenue was up 24.8% compared to the same quarter last year. As a group, equities analysts expect that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley increased their target price on Toast from $50.00 to $54.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Wells Fargo & Company initiated coverage on Toast in a report on Wednesday, July 16th. They issued a "buy" rating for the company. Barclays reaffirmed an "overweight" rating on shares of Toast in a report on Wednesday, July 16th. The Goldman Sachs Group increased their price objective on Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. increased their price objective on Toast from $42.00 to $52.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $45.54.

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.