International Assets Investment Management LLC Makes New Investment in Toast, Inc. (NYSE:TOST)

International Assets Investment Management LLC bought a new stake in Toast, Inc. (NYSE:TOST) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,390 shares of the company’s stock, valued at approximately $87,000.

A number of other large investors have also recently made changes to their positions in TOST. Park Avenue Securities LLC grew its position in Toast by 1.0% during the 1st quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock worth $1,080,000 after purchasing an additional 436 shares during the last quarter. Wellington Shields & Co. LLC grew its holdings in shares of Toast by 3.1% during the first quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock worth $416,000 after buying an additional 500 shares during the last quarter. Comerica Bank increased its position in Toast by 10.9% in the 1st quarter. Comerica Bank now owns 6,167 shares of the company’s stock valued at $154,000 after acquiring an additional 607 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in Toast by 5.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock valued at $255,000 after acquiring an additional 774 shares during the last quarter. Finally, Values First Advisors Inc. lifted its position in Toast by 2.7% during the 2nd quarter. Values First Advisors Inc. now owns 31,342 shares of the company’s stock worth $808,000 after acquiring an additional 811 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on TOST. Robert W. Baird cut Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price target for the company. in a research note on Tuesday, May 21st. Wells Fargo & Company upped their price objective on shares of Toast from $17.00 to $19.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 target price on shares of Toast in a report on Wednesday, August 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $26.00 price target on shares of Toast in a report on Wednesday, May 29th. Finally, Baird R W lowered Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $28.22.

Toast Stock Performance

Toast stock opened at $24.02 on Wednesday. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $27.90. The firm has a market capitalization of $11.07 billion, a price-to-earnings ratio of -48.04 and a beta of 1.75. The stock’s fifty day moving average is $25.05 and its two-hundred day moving average is $24.32.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The firm’s revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.19) EPS. As a group, sell-side analysts forecast that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Insider Transactions at Toast

In related news, CEO Aman Narang sold 6,355 shares of Toast stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total transaction of $162,942.20. Following the completion of the transaction, the chief executive officer now directly owns 1,131,043 shares in the company, valued at approximately $28,999,942.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Aman Narang sold 6,355 shares of Toast stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total transaction of $162,942.20. Following the completion of the sale, the chief executive officer now owns 1,131,043 shares in the company, valued at approximately $28,999,942.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $25.55, for a total transaction of $2,555,000.00. Following the completion of the transaction, the executive now directly owns 31,919 shares of the company’s stock, valued at approximately $815,530.45. The disclosure for this sale can be found here. Insiders sold a total of 418,352 shares of company stock valued at $10,526,982 in the last ninety days. 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.