EverSource Wealth Advisors LLC Boosts Stock Position in Toast, Inc. (NYSE:TOST)

EverSource Wealth Advisors LLC raised its holdings in Toast, Inc. (NYSE:TOST) by 293.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,028 shares of the company’s stock after acquiring an additional 2,259 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Toast were worth $79,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Avenue Securities LLC grew its holdings in shares of Toast by 1.0% in the first 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 increased its position 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 acquiring an additional 500 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Toast by 8.4% during the second quarter. Parkside Financial Bank & Trust now owns 6,742 shares of the company’s stock valued at $174,000 after acquiring an additional 520 shares in the last quarter. Comerica Bank boosted its holdings in shares of Toast by 10.9% in the first quarter. Comerica Bank now owns 6,167 shares of the company’s stock valued at $154,000 after purchasing an additional 607 shares during the period. Finally, Values First Advisors Inc. grew its stake in Toast by 2.7% in the second quarter. Values First Advisors Inc. now owns 31,342 shares of the company’s stock worth $808,000 after purchasing an additional 811 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TOST shares. Wedbush raised Toast to a “strong-buy” rating in a research report on Friday, September 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $27.00 price objective on shares of Toast in a research note on Wednesday, August 7th. The Goldman Sachs Group reissued a “buy” rating and set a $29.00 target price on shares of Toast in a research report on Thursday, September 12th. JPMorgan Chase & Co. upped their price target on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $30.00 price objective on shares of Toast in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.33.

Toast Price Performance

Shares of TOST opened at $27.99 on Friday. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $29.92. The firm has a fifty day moving average price of $25.17 and a 200 day moving average price of $24.69. The stock has a market cap of $12.90 billion, a PE ratio of -55.98 and a beta of 1.75.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The business’s revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.19) EPS. As a group, equities analysts expect that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Insider Activity at Toast

In related news, President Stephen Fredette sold 8,057 shares of Toast stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $28.02, for a total transaction of $225,757.14. Following the completion of the sale, the president now owns 2,152,442 shares in the company, valued at approximately $60,311,424.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, President Stephen Fredette sold 8,057 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $28.02, for a total transaction of $225,757.14. Following the sale, the president now owns 2,152,442 shares in the company, valued at $60,311,424.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christopher P. Comparato sold 100,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $24.35, for a total value of $2,435,000.00. Following the sale, the director now owns 120,107 shares in the company, valued at approximately $2,924,605.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 804,707 shares of company stock valued at $20,382,344. 13.32% of the stock is 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.