Toast, Inc. $TOST Shares Sold by Lewis Asset Management LLC

Key Points

• Lewis Asset Management LLC reduced its stake in Toast, Inc. by 21.9%, selling 6,920 shares and ending with 24,649 shares valued at approximately $1.09 million.
• Toast's earnings report showed a missed EPS target of $0.23, reporting only $0.13 EPS, despite revenues of $1.55 billion, which exceeded estimates.
• Recent analyst upgrades have raised Toast's price targets, with new estimates ranging from $50.00 to $54.00, signaling a consensus rating of "Moderate Buy".

Lewis Asset Management LLC reduced its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 21.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,649 shares of the company's stock after selling 6,920 shares during the period. Lewis Asset Management LLC's holdings in Toast were worth $1,092,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new stake in shares of Toast in the 1st quarter valued at $34,000. Piscataqua Savings Bank boosted 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 acquiring an additional 400 shares during the period. West Branch Capital LLC boosted 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 acquiring an additional 1,000 shares during the period. SBI Securities Co. Ltd. raised its stake in 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 purchasing an additional 284 shares in the last quarter. Finally, Signaturefd LLC raised its stake 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 acquiring an additional 1,022 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TOST shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Toast in a report on Thursday, July 17th. They set a "buy" rating and a $54.00 target price on the stock. Wall Street Zen lowered Toast from a "buy" rating to a "hold" rating in a report on Monday. Wells Fargo & Company assumed coverage on Toast in a research report on Wednesday, July 16th. They set a "buy" rating on the stock. Canaccord Genuity Group lifted their price target on Toast from $48.00 to $54.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Morgan Stanley boosted their price objective on Toast from $50.00 to $54.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Fifteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $46.30.

Insider Activity at Toast

In related news, CRO Jonathan Vassil sold 6,592 shares of Toast stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $280,753.28. Following the transaction, the executive directly owned 61,791 shares of the company's stock, valued at $2,631,678.69. This trade represents a 9.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Elena Gomez sold 34,170 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were 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 owned 139,357 shares in the company, valued at approximately $5,931,033.92. The trade was a 19.69% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 88,342 shares of company stock valued at $3,804,710. 12.14% of the stock is currently owned by company insiders.

Toast Price Performance

Shares of NYSE TOST traded down $2.19 during midday trading on Monday, hitting $38.94. 27,897,915 shares of the company's stock were exchanged, compared to its average volume of 7,925,543. The firm has a market cap of $19.86 billion, a P/E ratio of 114.53 and a beta of 2.00. Toast, Inc. has a twelve month low of $26.75 and a twelve month high of $49.66. The stock's 50 day moving average price is $44.14 and its 200-day moving average price is $40.69.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.10). The business had revenue of $1.55 billion during 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 company's revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.02 earnings per share. On average, analysts expect that Toast, Inc. will post 0.39 EPS for the current fiscal year.

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.