Duality Advisers LP Buys Shares of 47,041 Toast, Inc. (NYSE:TOST)

Duality Advisers LP bought a new stake in Toast, Inc. (NYSE:TOST) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 47,041 shares of the company’s stock, valued at approximately $1,172,000.

A number of other institutional investors also recently bought and sold shares of the company. Park Avenue Securities LLC lifted its holdings in Toast by 1.0% in the first quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock valued at $1,080,000 after acquiring an additional 436 shares during the period. Wellington Shields & Co. LLC lifted its holdings in Toast by 3.1% in the first quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock valued at $416,000 after acquiring an additional 500 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in Toast by 5.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock valued at $255,000 after acquiring an additional 774 shares during the period. Orion Capital Management LLC lifted its holdings in Toast by 22.5% in the fourth quarter. Orion Capital Management LLC now owns 4,350 shares of the company’s stock valued at $79,000 after acquiring an additional 800 shares during the period. Finally, M&T Bank Corp lifted its holdings in Toast by 8.0% in the fourth quarter. M&T Bank Corp now owns 11,217 shares of the company’s stock valued at $205,000 after acquiring an additional 829 shares during the period. Institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

NYSE TOST traded up $0.85 on Friday, reaching $25.22. 5,275,967 shares of the stock traded hands, compared to its average volume of 7,930,834. The company has a fifty day moving average price of $24.85 and a 200-day moving average price of $22.49. The company has a market cap of $11.42 billion, a price-to-earnings ratio of -48.76 and a beta of 1.76. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $27.90.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.15). The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. Toast’s revenue was up 31.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.16) EPS. As a group, research analysts anticipate that Toast, Inc. will post -0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $26.00 price objective on shares of Toast in a research note on Wednesday, May 29th. Canaccord Genuity Group raised their price objective on Toast from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Robert W. Baird downgraded Toast from an “outperform” rating to a “neutral” rating and set a $28.00 target price on the stock. in a research note on Tuesday, May 21st. Piper Sandler lifted their target price on Toast from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Finally, Mizuho lifted their target price on Toast from $17.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.05.

Insider Transactions at Toast

In other news, General Counsel Brian R. Elworthy sold 2,573 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $25.64, for a total value of $65,971.72. Following the completion of the transaction, the general counsel now directly owns 170,531 shares of the company’s stock, valued at approximately $4,372,414.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Toast news, CRO Jonathan Vassil sold 50,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the sale, the executive now owns 25,422 shares in the company, valued at approximately $582,163.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Brian R. Elworthy sold 2,573 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $25.64, for a total value of $65,971.72. Following the sale, the general counsel now owns 170,531 shares in the company, valued at approximately $4,372,414.84. The disclosure for this sale can be found here. In the last three months, insiders sold 229,253 shares of company stock valued at $5,630,212. Corporate insiders own 13.32% of the company’s stock.

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.