Toast, Inc. $TOST Shares Purchased by State of Wyoming

State of Wyoming grew its holdings in shares of Toast, Inc. (NYSE:TOST) by 76.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 76,738 shares of the company’s stock after purchasing an additional 33,303 shares during the period. Toast comprises 0.2% of State of Wyoming’s investment portfolio, making the stock its 28th largest holding. State of Wyoming’s holdings in Toast were worth $2,034,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TOST. Cetera Investment Advisers lifted its holdings in shares of Toast by 4.2% during the 1st quarter. Cetera Investment Advisers now owns 115,791 shares of the company’s stock valued at $3,070,000 after acquiring an additional 4,635 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Toast by 34.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 20,717 shares of the company’s stock valued at $549,000 after purchasing an additional 5,353 shares in the last quarter. Amova Asset Management Americas Inc. raised its position in Toast by 0.4% in the first quarter. Amova Asset Management Americas Inc. now owns 3,817,961 shares of the company’s stock valued at $101,176,000 after purchasing an additional 16,614 shares during the period. Meeder Asset Management Inc. raised its position in Toast by 275.6% in the first quarter. Meeder Asset Management Inc. now owns 19,235 shares of the company’s stock valued at $510,000 after purchasing an additional 14,114 shares during the period. Finally, WCM Investment Management LLC lifted its stake in shares of Toast by 1.3% during the first quarter. WCM Investment Management LLC now owns 55,059 shares of the company’s stock worth $1,435,000 after purchasing an additional 692 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Down 3.8%

Shares of NYSE TOST opened at $29.22 on Thursday. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $49.66. The business has a 50 day moving average price of $26.33 and a two-hundred day moving average price of $28.08. The firm has a market cap of $15.08 billion, a PE ratio of 44.95 and a beta of 1.74.

Toast (NYSE:TOST) last announced its earnings results on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. Toast had a net margin of 6.39% and a return on equity of 20.86%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 earnings per share. On average, analysts anticipate that Toast, Inc. will post 0.97 earnings per share for the current year.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 9,146 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total transaction of $263,862.10. Following the transaction, the president directly owned 931,449 shares in the company, valued at $26,872,303.65. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Elena Gomez sold 11,605 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total transaction of $334,804.25. Following the transaction, the chief financial officer directly owned 185,150 shares of the company’s stock, valued at approximately $5,341,577.50. This represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 159,265 shares of company stock valued at $4,278,832. 10.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TOST. Loop Capital initiated coverage on Toast in a research report on Tuesday, March 31st. They issued a “hold” rating and a $26.00 target price for the company. Wall Street Zen downgraded Toast from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Weiss Ratings restated a “hold (c)” rating on shares of Toast in a report on Wednesday, May 20th. Mizuho lowered their price objective on shares of Toast from $45.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Finally, UBS Group dropped their price objective on shares of Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.96.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.