Toast, Inc. $TOST is Granahan Investment Management LLC's 7th Largest Position

Key Points

• Granahan Investment Management LLC reduced its stake in Toast, Inc. by 5.1%, now holding approximately 1.5 million shares, which represents 2.5% of its portfolio, making it their 7th largest investment.
• Analysts have raised their price targets for Toast shares, with ratings from firms like Jefferies and Needham & Company indicating a consensus of "Buy" with an average target price of $45.54.
• Toast reported earnings of $0.13 per share for the latest quarter, which fell short of analyst expectations, despite revenue growing by 24.8% year-over-year.

Granahan Investment Management LLC lessened its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 5.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,497,941 shares of the company's stock after selling 80,429 shares during the period. Toast accounts for approximately 2.5% of Granahan Investment Management LLC's holdings, making the stock its 7th biggest position. Granahan Investment Management LLC owned 0.30% of Toast worth $49,687,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Wayfinding Financial LLC purchased a new position in shares of Toast during the first quarter valued at approximately $34,000. Piscataqua Savings Bank grew its position in Toast by 57.1% during the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after purchasing an additional 400 shares during the last quarter. West Branch Capital LLC boosted its stake in Toast by 862.1% during the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after purchasing an additional 1,000 shares during the last quarter. SBI Securities Co. Ltd. increased 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 worth $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% in the first quarter. Signaturefd LLC now owns 1,472 shares of the company's stock worth $49,000 after purchasing an additional 1,022 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. DA Davidson raised their price target on shares of Toast from $40.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Jefferies Financial Group increased their price objective on shares of Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Barclays restated an "overweight" rating on shares of Toast in a research report on Wednesday, July 16th. Wall Street Zen raised shares of Toast from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Needham & Company LLC upped 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. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $45.54.

Toast Stock Performance

Shares of NYSE:TOST opened at $42.57 on Thursday. Toast, Inc. has a fifty-two week low of $22.91 and a fifty-two week high of $49.66. The firm has a market cap of $21.71 billion, a price-to-earnings ratio of 125.21 and a beta of 2.00. The firm has a fifty day moving average price of $44.97 and a 200 day moving average price of $40.39.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. Toast had a return on equity of 14.19% and a net margin of 4.07%.Toast's revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 earnings per share. As a group, research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Activity

In other Toast news, Director Paul D. Bell sold 12,500 shares of the stock in a transaction that occurred 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 transaction, the director owned 226,892 shares in the company, valued at approximately $9,615,682.96. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Jonathan Vassil sold 1,427 shares of the stock in a transaction that occurred 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 transaction, the executive owned 63,298 shares in the company, valued at $3,062,357.24. This trade represents a 2.20% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 105,554 shares of company stock worth $4,553,686. 12.14% of the stock is currently owned by corporate insiders.

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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