Capital Impact Advisors LLC Purchases Shares of 221,662 Toast, Inc. $TOST

Key Points

• Capital Impact Advisors LLC acquired 221,662 shares of Toast, Inc. for approximately $7.35 million, making it the firm's 19th largest holding.
• Multiple institutional investors have adjusted their stakes in Toast, with 82.91% of the stock now owned by hedge funds and other institutional investors.
• Analysts rate Toast as a "Moderate Buy" with a consensus price target of $45.54, despite the company missing EPS estimates in its recent earnings report.

Capital Impact Advisors LLC bought a new position in Toast, Inc. (NYSE:TOST - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 221,662 shares of the company's stock, valued at approximately $7,353,000. Toast accounts for approximately 2.8% of Capital Impact Advisors LLC's investment portfolio, making the stock its 19th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new stake in shares of Toast in the 1st quarter worth about $34,000. Piscataqua Savings Bank lifted its position in shares of Toast by 57.1% in the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after purchasing an additional 400 shares during the period. West Branch Capital LLC lifted its position in shares of Toast by 862.1% in the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after purchasing an additional 1,000 shares during the period. SBI Securities Co. Ltd. lifted its position in shares of Toast by 29.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock worth $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 worth $49,000 after acquiring an additional 1,022 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TOST shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Toast in a research note on Thursday, July 17th. They issued a "buy" rating and a $54.00 price target for the company. Wells Fargo & Company started coverage on shares of Toast in a research note on Wednesday, July 16th. They set a "buy" rating for the company. Needham & Company LLC lifted their price target on shares of Toast from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Canaccord Genuity Group raised their price objective on shares of Toast from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Toast from $42.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, Toast presently has an average rating of "Moderate Buy" and a consensus price target of $45.54.

Toast Price Performance

Shares of NYSE:TOST opened at $40.90 on Wednesday. Toast, Inc. has a 1-year low of $23.06 and a 1-year high of $49.66. The firm's 50 day simple moving average is $44.78 and its two-hundred day simple moving average is $40.42. The company has a market capitalization of $20.86 billion, a P/E ratio of 120.29 and a beta of 2.00.

Toast (NYSE:TOST - Get Free Report) last released its earnings results 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 return on equity of 14.19% and a net margin of 4.07%.The company had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same period last year, the firm posted $0.02 EPS. Toast's quarterly revenue was up 24.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Transactions at Toast

In other news, Director Paul D. Bell sold 12,500 shares of the business'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 owned 226,892 shares of the company's stock, valued at approximately $9,615,682.96. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 34,170 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.56, for a total transaction of $1,454,275.20. Following the completion of the transaction, the chief financial officer directly owned 139,357 shares in the company, valued at $5,931,033.92. This trade represents a 19.69% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,342 shares of company stock valued at $3,804,710. 12.14% of the stock is owned by corporate insiders.

About Toast

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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