Atomi Financial Group Inc. Invests $330,000 in Toast, Inc. (NYSE:TOST)

Atomi Financial Group Inc. purchased a new stake in Toast, Inc. (NYSE:TOST) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,659 shares of the company’s stock, valued at approximately $330,000.

Several other hedge funds have also added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Toast during the 1st quarter worth about $5,078,000. Syon Capital LLC bought a new stake in shares of Toast during the fourth quarter worth approximately $377,000. WoodTrust Financial Corp acquired a new position in shares of Toast in the first quarter valued at approximately $754,000. QRG Capital Management Inc. increased its stake in shares of Toast by 39.7% during the second quarter. QRG Capital Management Inc. now owns 84,967 shares of the company’s stock worth $2,190,000 after purchasing an additional 24,164 shares during the period. Finally, Integrated Advisors Network LLC acquired a new stake in Toast during the 4th quarter worth approximately $186,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction dated 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 completion of the transaction, the president now owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CRO Jonathan Vassil sold 1,541 shares of Toast stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $36,984.00. Following the transaction, the executive now owns 33,312 shares in the company, valued at approximately $799,488. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the president now owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,562 shares of company stock valued at $26,926,059 in the last 90 days. 13.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TOST has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Toast in a report on Wednesday, August 7th. Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $21.00 to $33.00 in a research report on Thursday, July 18th. The Goldman Sachs Group restated 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. raised their target price on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Morgan Stanley boosted their price target on Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. One equities 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 stock. According to MarketBeat, Toast currently has an average rating of “Moderate Buy” and an average price target of $28.33.

Toast Price Performance

TOST stock opened at $28.34 on Friday. The firm has a 50-day moving average price of $25.70 and a 200-day moving average price of $25.00. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $29.92.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, beating the consensus estimate 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 firm’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.19) EPS. On average, analysts anticipate that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Toast Company 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.