Harbor Investment Advisory LLC Acquires 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 grew its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 1,352.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,890 shares of the company's stock after buying an additional 10,140 shares during the period. Harbor Investment Advisory LLC's holdings in Toast were worth $482,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Procyon Advisors LLC bought a new position in Toast in the 1st quarter worth $242,000. Charles Schwab Investment Management Inc. increased its position in shares of Toast by 5.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,092,210 shares of the company's stock valued at $102,569,000 after buying an additional 153,723 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Toast by 19.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company's stock worth $829,000 after buying an additional 3,713 shares in the last quarter. Yorktown Management & Research Co Inc purchased a new stake in Toast in the first quarter worth about $252,000. Finally, Principal Financial Group Inc. lifted its holdings in Toast by 14,258.8% in the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock worth $181,587,000 after buying an additional 5,436,317 shares during the period. Hedge funds and other institutional investors own 82.91% of the company's stock.

Toast Stock Performance

Shares of TOST stock opened at $40.00 on Monday. The company has a market capitalization of $20.40 billion, a price-to-earnings ratio of 117.65 and a beta of 2.00. Toast, Inc. has a one year low of $25.96 and a one year high of $49.66. The company's 50-day moving average is $44.60 and its 200 day moving average is $40.50.

Toast (NYSE:TOST - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share (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 firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company posted $0.02 EPS. The company's quarterly revenue was up 24.8% on a year-over-year basis. As a group, research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barclays reissued an "overweight" rating on shares of Toast in a research report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft began coverage on Toast in a report on Thursday, July 17th. They issued a "buy" rating and a $54.00 price objective for the company. 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. Wells Fargo & Company assumed coverage on shares of Toast in a research report on Wednesday, July 16th. They issued a "buy" rating on the stock. Finally, 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. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.54.

Insiders Place Their Bets

In other news, CEO Aman Narang sold 13,829 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total transaction of $588,977.11. Following the transaction, the chief executive officer directly owned 302,498 shares of the company's stock, valued at $12,883,389.82. This represents a 4.37% 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, CFO Elena Gomez sold 34,170 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.56, for a total value of $1,454,275.20. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,342 shares of company stock worth $3,804,710 in the last three months. Corporate insiders own 12.14% of the company's stock.

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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