Romano Brothers AND Company Has $944,000 Stake in Toast, Inc. (NYSE:TOST)

Romano Brothers AND Company reduced its stake in Toast, Inc. (NYSE:TOST) by 5.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,882 shares of the company’s stock after selling 2,200 shares during the period. Romano Brothers AND Company’s holdings in Toast were worth $944,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Securities Inc. bought a new position in Toast in the fourth quarter valued at about $30,000. Cape Investment Advisory Inc. bought a new position in Toast in the 4th quarter valued at approximately $31,000. SRS Capital Advisors Inc. acquired a new stake in Toast during the 3rd quarter worth approximately $33,000. Harbor Investment Advisory LLC bought a new stake in Toast during the 1st quarter worth approximately $37,000. Finally, Baystate Wealth Management LLC increased its position in 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 acquiring an additional 896 shares during the period. 82.91% of the stock is owned by institutional investors.

Toast Stock Performance

TOST stock opened at $25.77 on Friday. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $27.90. The stock’s 50 day simple moving average is $24.51 and its 200 day simple moving average is $22.04. The company has a market cap of $11.67 billion, a P/E ratio of -51.54 and a beta of 1.75.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.15). The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. Toast’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same period last year, the business earned ($0.16) EPS. Equities analysts predict that Toast, Inc. will post -0.14 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on TOST. Wedbush reissued an “outperform” rating and issued a $30.00 price objective on shares of Toast in a research note on Thursday, May 30th. The Goldman Sachs Group increased their price target on Toast from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Wells Fargo & Company lifted their price objective on Toast from $17.00 to $19.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 8th. Mizuho increased their target price on shares of Toast from $17.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Finally, Evercore ISI assumed coverage on shares of Toast in a report on Monday, March 4th. They set an “outperform” rating and a $32.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $26.14.

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 2,272 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $53,164.80. Following the completion of the sale, the president now directly owns 2,835,759 shares of the company’s stock, valued at $66,356,760.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Christopher P. Comparato sold 80,000 shares of the firm’s 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 transaction, the director now owns 97,762 shares in the company, valued at $2,368,773.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Fredette sold 2,272 shares of Toast stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $53,164.80. Following the transaction, the president now directly owns 2,835,759 shares in the company, valued at approximately $66,356,760.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 222,223 shares of company stock valued at $5,397,094. Corporate insiders own 13.32% of the company’s stock.

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.