Spire Wealth Management increased its stake in Toast, Inc. (NYSE:TOST – Free Report) by 2,196.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,296 shares of the company’s stock after acquiring an additional 2,196 shares during the quarter. Spire Wealth Management’s holdings in Toast were worth $41,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Whittier Trust Co. lifted its stake in Toast by 365.0% in the first quarter. Whittier Trust Co. now owns 1,660 shares of the company’s stock valued at $29,000 after buying an additional 1,303 shares during the period. PNC Financial Services Group Inc. lifted its stake in Toast by 277.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,710 shares of the company’s stock valued at $31,000 after buying an additional 1,257 shares during the period. American International Group Inc. acquired a new position in Toast in the second quarter valued at approximately $46,000. CWM LLC lifted its stake in Toast by 95.1% in the first quarter. CWM LLC now owns 2,641 shares of the company’s stock valued at $47,000 after buying an additional 1,287 shares during the period. Finally, Seeyond acquired a new position in Toast in the fourth quarter valued at approximately $56,000. 57.12% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Toast
In other Toast news, CEO Christopher P. Comparato sold 8,947 shares of the company’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $21.62, for a total value of $193,434.14. Following the completion of the transaction, the chief executive officer now owns 416,869 shares in the company, valued at approximately $9,012,707.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Christopher P. Comparato sold 8,947 shares of the company’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $21.62, for a total transaction of $193,434.14. Following the transaction, the chief executive officer now owns 416,869 shares of the company’s stock, valued at approximately $9,012,707.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher P. Comparato sold 58,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $23.27, for a total value of $1,349,660.00. Following the transaction, the chief executive officer now directly owns 267,382 shares in the company, valued at approximately $6,221,979.14. The disclosure for this sale can be found here. Insiders sold 863,929 shares of company stock worth $20,495,352 in the last quarter. 13.70% of the stock is currently owned by company insiders.
Toast Price Performance
Toast (NYSE:TOST – Get Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.05). The business had revenue of $978.00 million during the quarter, compared to the consensus estimate of $943.06 million. Toast had a negative net margin of 11.33% and a negative return on equity of 34.23%. The firm’s revenue for the quarter was up 44.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.11) EPS. Sell-side analysts anticipate that Toast, Inc. will post -0.56 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the company. Needham & Company LLC boosted their price target on Toast from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. BTIG Research initiated coverage on Toast in a research note on Thursday, June 15th. They issued a “neutral” rating on the stock. The Goldman Sachs Group boosted their price objective on Toast from $23.50 to $26.00 and gave the company a “neutral” rating in a report on Thursday, August 10th. Bank of America initiated coverage on Toast in a report on Thursday, June 1st. They set a “buy” rating for the company. Finally, Jefferies Financial Group initiated coverage on Toast in a report on Tuesday, July 11th. They set a “buy” rating and a $28.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $24.78.
Get Our Latest Stock Report on Toast
Toast Company Profile
Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast POS, a software module that integrates payment processing with point of sale functionality; Toast Invoicing that allows restaurants to send invoices and collect payment; Toast Mobile Order & Pay, which allows guests to scan a QR code to browse the menu, order, and pay from mobile; Kitchen Display System software that connects the house with the kitchen staff; and Multi-Location Management, a tool to manage operations and configure menus across multiple locations and channels.
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