Signaturefd LLC Raises Stake in Toast, Inc. $TOST

Key Points

• Signaturefd LLC increased its stake in Toast, Inc. (NYSE: TOST) by 1,185.4% during the second quarter, now owning 18,921 shares valued at approximately $838,000.
• Research firms raised their price targets for Toast, with DA Davidson setting a new target of $46.00, while Needham & Company raised theirs to $60.00, reflecting strong analyst sentiment towards the stock.
• Toast reported revenue growth of 24.8% year-over-year, although it missed earnings estimates with $0.13 earnings per share, falling short of the expected $0.23.

Signaturefd LLC lifted its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 1,185.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 18,921 shares of the company's stock after purchasing an additional 17,449 shares during the quarter. Signaturefd LLC's holdings in Toast were worth $838,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Wayfinding Financial LLC acquired a new position in Toast during the 1st quarter worth approximately $34,000. Piscataqua Savings Bank lifted its position in Toast by 57.1% during the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after acquiring an additional 400 shares in the last quarter. West Branch Capital LLC lifted its position in Toast by 862.1% during the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after acquiring an additional 1,000 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in Toast by 29.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock worth $42,000 after acquiring an additional 284 shares in the last quarter. Finally, Proathlete Wealth Management LLC acquired a new position in Toast during the 1st quarter worth approximately $50,000. Hedge funds and other institutional investors own 82.91% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TOST. DA Davidson boosted their price target on Toast from $40.00 to $46.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Truist Financial boosted their price target on Toast from $48.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Needham & Company LLC boosted their price target on Toast from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Morgan Stanley upped their target price on Toast from $50.00 to $54.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Toast in a research report on Thursday, July 17th. They issued a "buy" rating and a $54.00 target price on the stock. Fifteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Toast has a consensus rating of "Moderate Buy" and a consensus target price of $46.65.

Toast Trading Down 0.2%

Shares of NYSE TOST opened at $37.14 on Tuesday. Toast, Inc. has a twelve month low of $26.91 and a twelve month high of $49.66. The company has a market capitalization of $18.94 billion, a price-to-earnings ratio of 109.24 and a beta of 2.00. The business has a 50 day simple moving average of $43.27 and a 200-day simple moving average of $40.81.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly 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 firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm posted $0.02 earnings per share. Toast's revenue was up 24.8% compared to the same quarter last year. As a group, equities analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Paul D. Bell sold 12,500 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $42.38, for a total transaction of $529,750.00. Following the completion of the transaction, the director directly owned 226,892 shares in the company, valued at $9,615,682.96. This represents a 5.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Stephen Fredette sold 1,720 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total value of $83,213.60. Following the transaction, the president owned 890,818 shares of the company's stock, valued at approximately $43,097,774.84. The trade was a 0.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,342 shares of company stock worth $3,804,710. Corporate insiders own 12.14% of the company's stock.

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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