Cetera Investment Advisers Has $2.16 Million Stock Holdings in Toast, Inc. (NYSE:TOST)

Cetera Investment Advisers raised its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 22.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,995 shares of the company's stock after buying an additional 11,747 shares during the period. Cetera Investment Advisers' holdings in Toast were worth $2,156,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in shares of Toast during the first quarter worth approximately $34,000. Piscataqua Savings Bank increased its holdings in shares of Toast by 57.1% during the first 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 increased its holdings in shares of Toast by 862.1% during the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after buying an additional 1,000 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Toast by 29.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock worth $42,000 after buying an additional 284 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Toast by 227.1% during the first quarter. Signaturefd LLC now owns 1,472 shares of the company's stock worth $49,000 after buying an additional 1,022 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Toast Stock Performance

TOST opened at $45.58 on Friday. The company has a fifty day moving average price of $44.67 and a two-hundred day moving average price of $39.94. Toast, Inc. has a 52 week low of $22.27 and a 52 week high of $49.66. The firm has a market capitalization of $22.70 billion, a PE ratio of 134.05 and a beta of 2.01.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.10). The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. Toast had a return on equity of 14.81% and a net margin of 4.07%. The company's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 earnings per share. Equities analysts forecast that Toast, Inc. will post 0.39 EPS for the current year.

Insider Activity at Toast

In other news, Director Paul D. Bell sold 11,000 shares of Toast stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $45.13, for a total transaction of $496,430.00. Following the transaction, the director directly owned 229,680 shares of the company's stock, valued at $10,365,458.40. This trade represents a 4.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Elena Gomez sold 34,170 shares of the company'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 of the company's stock, valued at approximately $5,931,033.92. The trade was a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 474,054 shares of company stock valued at $20,432,166. 13.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Citigroup reaffirmed a "buy" rating on shares of Toast in a report on Wednesday, July 16th. Wells Fargo & Company initiated coverage on shares of Toast in a report on Wednesday, July 16th. They set a "buy" rating for the company. Needham & Company LLC raised their price target on shares of Toast from $50.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday. Canaccord Genuity Group raised their price target on shares of Toast from $48.00 to $54.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods raised their price target on shares of Toast from $47.00 to $50.00 and gave the company a "market perform" rating in a report on Wednesday. Twelve research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $45.54.

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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