Talon Private Wealth LLC Takes $837,000 Position in Toast, Inc. $TOST

Talon Private Wealth LLC acquired a new stake in shares of Toast, Inc. (NYSE:TOST) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 30,098 shares of the company’s stock, valued at approximately $837,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TOST. Bayban acquired a new stake in Toast during the fourth quarter worth approximately $25,000. SHP Wealth Management bought a new stake in shares of Toast during the fourth quarter worth about $29,000. Strive Financial Group LLC purchased a new stake in shares of Toast in the fourth quarter worth approximately $29,000. Silicon Valley Capital Partners bought a new position in Toast during the 4th quarter valued at $36,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Toast by 2,083.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,048 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Canaccord Genuity Group set a $40.00 price objective on Toast in a report on Wednesday, August 5th. Keefe, Bruyette & Woods upped their target price on shares of Toast from $30.00 to $35.00 and gave the stock a “market perform” rating in a report on Wednesday, August 5th. UBS Group raised their price target on Toast from $34.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Robert W. Baird lifted their price objective on shares of Toast from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Finally, Wells Fargo & Company boosted their target price on Toast from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Sixteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.12.

Insider Activity at Toast

In other Toast news, CEO Aman Narang sold 119,843 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $35.38, for a total value of $4,240,045.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Elena Gomez sold 5,761 shares of Toast stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $35.37, for a total value of $203,766.57. Following the transaction, the chief financial officer directly owned 160,150 shares in the company, valued at approximately $5,664,505.50. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 522,533 shares of company stock worth $18,172,786. 10.03% of the stock is owned by company insiders.

Toast Stock Performance

Shares of NYSE:TOST traded up $0.20 during midday trading on Friday, reaching $32.14. 6,699,794 shares of the company’s stock traded hands, compared to its average volume of 11,360,081. Toast, Inc. has a one year low of $22.26 and a one year high of $42.15. The stock has a 50 day moving average of $32.77 and a 200 day moving average of $28.70. The company has a market cap of $16.52 billion, a price-to-earnings ratio of 41.21 and a beta of 1.72.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%.The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the business posted $0.13 EPS. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. Sell-side analysts predict that Toast, Inc. will post 1 EPS for the current fiscal year.

Toast Company Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other food-service businesses. Its platform combines point-of-sale hardware and software with tools for order management, payments, menu management, reporting and business operations.

The company also offers products and services that support employee management, payroll, inventory, scheduling, online ordering, delivery, gift cards, loyalty programs and guest engagement. Toast’s integrated approach is intended to help restaurants manage front-of-house and back-of-house activities through a single platform.

Toast was founded in 2011 and is headquartered in Boston, Massachusetts.