J.W. Cole Advisors Inc. Makes New $269,000 Investment in Toast, Inc. (NYSE:TOST)

J.W. Cole Advisors Inc. acquired a new position in shares of Toast, Inc. (NYSE:TOST) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 10,420 shares of the company’s stock, valued at approximately $269,000.

Several other large investors also recently bought and sold shares of TOST. Park Avenue Securities LLC boosted its holdings in shares of 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 boosted its holdings in shares of Toast by 3.1% during the 1st quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock worth $416,000 after purchasing an additional 500 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Toast by 8.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 6,742 shares of the company’s stock worth $174,000 after purchasing an additional 520 shares during the last quarter. Comerica Bank boosted its holdings in shares of Toast by 10.9% during the 1st quarter. Comerica Bank now owns 6,167 shares of the company’s stock worth $154,000 after purchasing an additional 607 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Toast by 5.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock worth $255,000 after purchasing an additional 774 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TOST has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of Toast in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $27.00 price objective on shares of Toast in a report on Wednesday, August 7th. Morgan Stanley upped their price objective on Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $21.00 to $33.00 in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Toast currently has a consensus rating of “Moderate Buy” and an average price target of $28.33.

Insider Transactions at Toast

In related news, President Stephen Fredette sold 211,686 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the transaction, the president now owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CRO Jonathan Vassil sold 100,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $25.55, for a total value of $2,555,000.00. Following the transaction, the executive now owns 31,919 shares of the company’s stock, valued at $815,530.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Fredette sold 211,686 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the transaction, the president now directly owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 651,612 shares of company stock valued at $16,191,520. 13.32% of the stock is currently owned by company insiders.

Toast Stock Down 1.6 %

Toast stock opened at $26.31 on Thursday. Toast, Inc. has a twelve month low of $13.77 and a twelve month high of $27.90. The stock’s fifty day simple moving average is $24.98 and its 200-day simple moving average is $24.54.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the company earned ($0.19) earnings per share. The company’s revenue was up 27.0% on a year-over-year basis. On average, analysts predict that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

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.