Townsquare Capital LLC Boosts Stake in Toast, Inc. $TOST

Key Points

• Townsquare Capital LLC has significantly increased its holdings in Toast, Inc. by 171.3%, acquiring an additional 14,608 shares in the first quarter, bringing its total to 23,134 shares valued at approximately $767,000.
• Toast reported revenue of $1.55 billion for the last quarter, exceeding analysts' estimates, although it missed earnings per share expectations, posting $0.13 compared to a consensus of $0.23.
• Toast's stock has received multiple analyst upgrades, with a consensus target price recently set at $45.54, indicating a strong buy sentiment from analysts regarding the stock's future performance.

Townsquare Capital LLC increased its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 171.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,134 shares of the company's stock after buying an additional 14,608 shares during the quarter. Townsquare Capital LLC's holdings in Toast were worth $767,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Wayfinding Financial LLC bought a new position in shares of Toast during the 1st quarter worth $34,000. Piscataqua Savings Bank grew its stake in shares of 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 during the period. West Branch Capital LLC grew its stake in shares of 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 during the period. SBI Securities Co. Ltd. grew its stake in shares of 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 during the period. Finally, Signaturefd LLC grew its stake in shares of Toast by 227.1% during the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company's stock worth $49,000 after acquiring an additional 1,022 shares during the period. Institutional investors own 82.91% of the company's stock.

Toast Price Performance

Shares of NYSE:TOST traded down $0.5270 on Tuesday, hitting $41.9730. The company's stock had a trading volume of 5,528,179 shares, compared to its average volume of 7,326,859. The company has a 50-day simple moving average of $44.75 and a 200 day simple moving average of $40.13. Toast, Inc. has a 1 year low of $22.91 and a 1 year high of $49.66. The company has a market capitalization of $21.41 billion, a PE ratio of 123.45 and a beta of 2.01.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. Toast's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 earnings per share. On average, equities research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 7,647 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total value of $325,685.73. Following the completion of the transaction, the president owned 889,017 shares in the company, valued at $37,863,234.03. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Aman Narang sold 13,829 shares of Toast stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $588,977.11. Following the transaction, the chief executive officer owned 302,498 shares of the company's stock, valued at $12,883,389.82. The trade was a 4.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 393,054 shares of company stock worth $16,803,936 over the last quarter. Company insiders own 12.14% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TOST. Deutsche Bank Aktiengesellschaft began coverage on Toast in a research note on Thursday, July 17th. They set a "buy" rating and a $54.00 price target for the company. Wells Fargo & Company started coverage on Toast in a research note on Wednesday, July 16th. They set a "buy" rating for the company. Keefe, Bruyette & Woods increased their price objective on Toast from $47.00 to $50.00 and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Piper Sandler increased their price objective on Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Finally, Wolfe Research raised Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective on the stock in a report on Wednesday, April 23rd. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, Toast currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.54.

Toast Company 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.