Moody Lynn & Lieberson LLC Makes New $1.17 Million Investment in Toast, Inc. $TOST

Key Points

• Moody Lynn & Lieberson LLC invested approximately $1.17 million in Toast, Inc. during the second quarter by purchasing 26,401 shares.
• CEO Aman Narang sold 13,829 shares of Toast, indicating a 4.37% decrease in his ownership following a $588,977 transaction.
• Fifteen investment analysts have rated Toast with a Buy rating, while the stock has an average price target of $46.65.

Moody Lynn & Lieberson LLC purchased a new stake in Toast, Inc. (NYSE:TOST - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 26,401 shares of the company's stock, valued at approximately $1,169,000.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Toast by 7.2% during the second quarter. GAMMA Investing LLC now owns 4,139 shares of the company's stock valued at $183,000 after buying an additional 278 shares during the period. SBI Securities Co. Ltd. raised its holdings 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 valued at $42,000 after acquiring an additional 284 shares in the last quarter. Stonekeep Investments LLC boosted its position in shares of Toast by 4.0% during the 1st quarter. Stonekeep Investments LLC now owns 7,791 shares of the company's stock valued at $258,000 after acquiring an additional 297 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Toast by 7.3% during the first quarter. Advisors Asset Management Inc. now owns 4,439 shares of the company's stock worth $147,000 after purchasing an additional 301 shares in the last quarter. Finally, Independent Wealth Network Inc. grew its holdings in shares of Toast by 5.0% during the second quarter. Independent Wealth Network Inc. now owns 6,441 shares of the company's stock worth $285,000 after purchasing an additional 309 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Toast

In related news, CEO Aman Narang sold 13,829 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $588,977.11. Following the completion of the sale, the chief executive officer directly owned 302,498 shares in the company, valued at $12,883,389.82. This represents a 4.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Stephen Fredette sold 7,647 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $325,685.73. Following the sale, the president directly owned 889,017 shares of the company's stock, valued at $37,863,234.03. The trade was a 0.85% 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 currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Robert W. Baird set a $48.00 target price on shares of Toast in a research report on Monday, September 22nd. The Goldman Sachs Group lifted their price objective on shares of Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Wells Fargo & Company began coverage on shares of Toast in a research report on Wednesday, July 16th. They issued a "buy" rating for the company. Citigroup restated a "buy" rating on shares of Toast in a research report on Wednesday, July 16th. Finally, Morgan Stanley lifted their price target on Toast from $50.00 to $54.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $46.65.

Toast Stock Up 0.8%

NYSE TOST opened at $37.13 on Monday. The company has a 50-day simple moving average of $43.47 and a two-hundred day simple moving average of $40.80. Toast, Inc. has a 12-month low of $26.91 and a 12-month high of $49.66. The firm has a market cap of $18.94 billion, a price-to-earnings ratio of 109.20 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 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.10). Toast had a net margin of 4.07% and a return on equity of 14.19%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the firm posted $0.02 EPS. The company's revenue was up 24.8% on a year-over-year basis. Equities analysts expect that Toast, Inc. will post 0.39 earnings per share 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.

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