Redhawk Wealth Advisors Inc. Buys Shares of 19,024 Toast, Inc. $TOST

Key Points

• Redhawk Wealth Advisors Inc. has acquired a new position in Toast, Inc., purchasing 19,024 shares valued at approximately $843,000 during the second quarter.
• Notable firms including Wayfinding Financial and Piscataqua Savings Bank have acquired new stakes and increased positions in Toast, resulting in 82.91% of the stock being owned by institutional investors.
• Toast's stock has received positive ratings from various brokerages, with analysts raising price targets, reflecting a consensus rating of "Moderate Buy" and an average price target of $46.30.

Redhawk Wealth Advisors Inc. acquired a new stake in Toast, Inc. (NYSE:TOST - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 19,024 shares of the company's stock, valued at approximately $843,000.

Other hedge funds have also made changes to their positions in the company. Wayfinding Financial LLC purchased a new position in shares of Toast in the 1st quarter valued at about $34,000. Piscataqua Savings Bank lifted its position in 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 last quarter. West Branch Capital LLC lifted its position in 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 last quarter. SBI Securities Co. Ltd. lifted its position 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 acquiring an additional 284 shares during the last quarter. Finally, Signaturefd LLC lifted its position in 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 acquiring an additional 1,022 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TOST. Wall Street Zen cut Toast from a "buy" rating to a "hold" rating in a research report on Monday. Canaccord Genuity Group upped their target price on Toast from $48.00 to $54.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Truist Financial upped their target price on Toast from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft began coverage on Toast in a research report on Thursday, July 17th. They issued a "buy" rating and a $54.00 target price for the company. Finally, Barclays reissued an "overweight" rating on shares of Toast in a research report on Wednesday, July 16th. Fifteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $46.30.

Toast Stock Down 5.3%

NYSE TOST traded down $2.19 during mid-day trading on Monday, hitting $38.94. The stock had a trading volume of 27,897,915 shares, compared to its average volume of 7,925,543. Toast, Inc. has a 52-week low of $26.75 and a 52-week high of $49.66. The company has a market cap of $19.86 billion, a price-to-earnings ratio of 114.53 and a beta of 2.00. The company has a 50 day simple moving average of $44.14 and a 200 day simple moving average of $40.69.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). Toast had a net margin of 4.07% and a return on equity of 14.19%. The firm had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same period in the previous year, the business earned $0.02 earnings per share. The business's revenue for the quarter was up 24.8% on a year-over-year basis. As a group, equities analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In other Toast news, CFO Elena Gomez sold 2,006 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $97,050.28. Following the sale, the chief financial officer owned 141,263 shares in the company, valued at approximately $6,834,303.94. This represents a 1.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Jonathan Vassil sold 1,427 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $48.38, for a total value of $69,038.26. Following the sale, the executive owned 63,298 shares in the company, valued at approximately $3,062,357.24. This trade represents a 2.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,342 shares of company stock worth $3,804,710 in the last quarter. 12.14% of the stock is currently owned by corporate insiders.

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.