Toast, Inc. (NYSE:TOST) Shares Bought by Washington Harbour Partners LP

Washington Harbour Partners LP lifted its stake in Toast, Inc. (NYSE:TOST) by 164.4% during the first quarter, HoldingsChannel reports. The fund owned 152,300 shares of the company’s stock after purchasing an additional 94,700 shares during the quarter. Toast comprises approximately 6.1% of Washington Harbour Partners LP’s holdings, making the stock its 7th biggest position. Washington Harbour Partners LP’s holdings in Toast were worth $3,795,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TOST. LRI Investments LLC bought a new position in Toast during the first quarter valued at approximately $27,000. Principal Securities Inc. acquired a new position in shares of Toast during the 4th quarter worth $30,000. Cape Investment Advisory Inc. bought a new position in shares of Toast during the 4th quarter valued at $31,000. Harbor Investment Advisory LLC bought a new position in shares of Toast during the 1st quarter valued at $37,000. Finally, Baystate Wealth Management LLC lifted its stake in shares of Toast by 58.2% in the 4th quarter. Baystate Wealth Management LLC now owns 2,435 shares of the company’s stock valued at $44,000 after purchasing an additional 896 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Price Performance

Shares of NYSE TOST traded down $0.91 during mid-day trading on Thursday, hitting $25.25. The company had a trading volume of 4,221,042 shares, compared to its average volume of 7,815,266. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $27.90. The firm has a market cap of $11.44 billion, a P/E ratio of -52.32 and a beta of 1.76. The business’s 50-day simple moving average is $24.84 and its 200-day simple moving average is $23.29.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, hitting analysts’ consensus estimates of ($0.15). Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. The company’s quarterly revenue was up 31.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.16) EPS. As a group, sell-side analysts predict that Toast, Inc. will post -0.14 EPS for the current year.

Insider Buying and Selling

In other Toast news, insider James Michael Matlock sold 4,151 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $23.19, for a total value of $96,261.69. Following the sale, the insider now owns 46,510 shares of the company’s stock, valued at approximately $1,078,566.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Christopher P. Comparato sold 80,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $24.23, for a total value of $1,938,400.00. Following the completion of the transaction, the director now directly owns 97,762 shares of the company’s stock, valued at approximately $2,368,773.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James Michael Matlock sold 4,151 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $23.19, for a total value of $96,261.69. Following the transaction, the insider now owns 46,510 shares of the company’s stock, valued at approximately $1,078,566.90. The disclosure for this sale can be found here. Insiders sold a total of 368,455 shares of company stock valued at $9,410,466 over the last ninety days. 13.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

TOST has been the topic of several recent research reports. Baird R W lowered Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Piper Sandler raised their price objective on Toast from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Robert W. Baird lowered Toast from an “outperform” rating to a “neutral” rating and set a $28.00 target price for the company. in a report on Tuesday, May 21st. Wedbush reiterated an “outperform” rating and set a $30.00 price target on shares of Toast in a report on Thursday, May 30th. Finally, Mizuho upgraded shares of Toast from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $21.00 to $33.00 in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.65.

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.