Avior Wealth Management LLC Makes New $466,000 Investment in Toast, Inc. $TOST

Key Points

• Avior Wealth Management LLC has made a new investment of $466,000 in Toast, Inc., acquiring 10,526 shares during the second quarter.
• Toast's recent quarterly earnings reported an EPS of $0.13, which fell short of analysts' expectations, although revenue was up 24.8% year-over-year to $1.55 billion.
• Multiple investment firms have upgraded their ratings on Toast, Inc., with the average target price now set at $46.65, indicating a consensus rating of "Moderate Buy."

Avior Wealth Management LLC acquired a new stake in Toast, Inc. (NYSE:TOST - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,526 shares of the company's stock, valued at approximately $466,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Toast by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company's stock valued at $1,457,675,000 after purchasing an additional 1,471,352 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Toast by 17.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company's stock worth $777,978,000 after acquiring an additional 3,490,686 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Toast by 7.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company's stock worth $514,811,000 after acquiring an additional 1,082,958 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Toast by 2.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,755,872 shares of the company's stock worth $190,922,000 after acquiring an additional 160,088 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Toast by 14,258.8% in the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock worth $181,587,000 after acquiring an additional 5,436,317 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Price Performance

TOST opened at $36.48 on Wednesday. Toast, Inc. has a 12-month low of $26.91 and a 12-month high of $49.66. The stock has a market capitalization of $18.60 billion, a PE ratio of 107.29 and a beta of 2.00. The firm's fifty day moving average price is $43.04 and its 200 day moving average price is $40.78.

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

Insider Buying and Selling

In other news, CEO Aman Narang sold 1,719 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $48.38, for a total value of $83,165.22. Following the transaction, the chief executive officer directly owned 304,300 shares in the company, valued at approximately $14,722,034. This trade represents a 0.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Stephen Fredette sold 1,720 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $83,213.60. Following the completion of the sale, the president directly owned 890,818 shares in the company, valued at approximately $43,097,774.84. This trade represents a 0.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,423 shares of company stock worth $913,065. Company insiders own 12.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Toast in a research note on Thursday, July 17th. They issued a "buy" rating and a $54.00 price objective for the company. Wells Fargo & Company started coverage on shares of Toast in a report on Wednesday, July 16th. They set a "buy" rating for the company. JPMorgan Chase & Co. lifted their price target on shares of Toast from $42.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Canaccord Genuity Group boosted their target price on shares of Toast from $48.00 to $54.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Toast from $47.00 to $50.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $46.65.

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.

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