Harbor Investment Advisory LLC Purchases 10,140 Shares of Toast, Inc. $TOST

Key Points

• Harbor Investment Advisory LLC significantly increased its stake in Toast, Inc., acquiring an additional 10,140 shares, representing a 1,352.0% increase, bringing its total holdings to 10,890 shares valued at approximately $482,000.
• Toast, Inc. reported $1.55 billion in revenue for the latest quarter, up 24.8% year-over-year, but earnings per share fell short of expectations at $0.13.
• Analysts are generally optimistic, with Toast receiving 15 buy ratings and a consensus price target of $45.54, reflecting confidence in the company's growth potential.

Harbor Investment Advisory LLC raised its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 1,352.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,890 shares of the company's stock after acquiring an additional 10,140 shares during the period. Harbor Investment Advisory LLC's holdings in Toast were worth $482,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new stake in shares of Toast during the first quarter worth approximately $34,000. Piscataqua Savings Bank raised its position in shares of Toast by 57.1% in the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after buying an additional 400 shares in the last quarter. West Branch Capital LLC raised its position in shares of Toast by 862.1% in the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after buying an additional 1,000 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of Toast by 29.2% in the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after buying an additional 284 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Toast by 227.1% in the first quarter. Signaturefd LLC now owns 1,472 shares of the company's stock valued at $49,000 after buying an additional 1,022 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Toast Stock Down 0.6%

Shares of NYSE TOST traded down $0.26 during midday trading on Friday, reaching $41.23. 1,730,138 shares of the company were exchanged, compared to its average volume of 7,386,083. The stock's 50-day moving average price is $44.29 and its 200-day moving average price is $40.54. The stock has a market cap of $21.02 billion, a P/E ratio of 121.41 and a beta of 2.00. Toast, Inc. has a one year low of $26.63 and a one year high of $49.66.

Toast (NYSE:TOST - Get Free Report) last posted its 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 company 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 14.19% and a net margin of 4.07%.The business's quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 EPS. On average, equities research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Insider Activity

In related news, President Stephen Fredette sold 1,720 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $48.38, for a total value of $83,213.60. Following the sale, the president owned 890,818 shares of the company's stock, valued at $43,097,774.84. The trade was a 0.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Jonathan Vassil sold 1,427 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $69,038.26. Following the completion of the sale, the executive directly owned 63,298 shares in the company, valued at approximately $3,062,357.24. This represents a 2.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,342 shares of company stock valued at $3,804,710. 12.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Toast from $45.00 to $51.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Morgan Stanley lifted their price target on shares of Toast from $50.00 to $54.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Canaccord Genuity Group lifted their price target on shares of Toast from $48.00 to $54.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Needham & Company LLC lifted their price target on shares of Toast from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Toast in a research report on Thursday, July 17th. They set a "buy" rating and a $54.00 price objective for the company. Fifteen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $46.30.

Toast Company 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.