LRI Investments LLC Takes Position in Toast, Inc. (NYSE:TOST)

LRI Investments LLC acquired a new stake in Toast, Inc. (NYSE:TOST) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,000 shares of the company’s stock, valued at approximately $27,000.

Several other hedge funds have also recently bought and sold shares of the business. Raymond James & Associates lifted its position in Toast by 16.6% during the 4th quarter. Raymond James & Associates now owns 202,006 shares of the company’s stock worth $3,689,000 after acquiring an additional 28,743 shares during the last quarter. Arizona State Retirement System increased its position in Toast by 7.1% in the 4th quarter. Arizona State Retirement System now owns 90,333 shares of the company’s stock worth $1,649,000 after buying an additional 6,006 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of Toast by 4.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 120,711 shares of the company’s stock valued at $2,284,000 after acquiring an additional 4,593 shares during the period. International Assets Investment Management LLC increased its position in Toast by 1,542.9% during the fourth quarter. International Assets Investment Management LLC now owns 57,336 shares of the company’s stock worth $1,047,000 after acquiring an additional 53,846 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in Toast by 6.2% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 27,343 shares of the company’s stock valued at $510,000 after purchasing an additional 1,608 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Toast Trading Down 3.2 %

Toast stock opened at $24.45 on Friday. Toast, Inc. has a 1 year low of $13.77 and a 1 year high of $27.90. The company has a market cap of $11.08 billion, a PE ratio of -48.90 and a beta of 1.76. The company’s 50-day moving average is $24.82 and its two-hundred day moving average is $23.35.

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

Insider Activity at Toast

In other news, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $25.55, for a total transaction of $2,555,000.00. Following the sale, the executive now directly owns 31,919 shares in the company, valued at $815,530.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $25.55, for a total value of $2,555,000.00. Following the sale, the executive now owns 31,919 shares of the company’s stock, valued at $815,530.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider James Michael Matlock sold 1,854 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total value of $47,536.56. Following the transaction, the insider now directly owns 48,118 shares of the company’s stock, valued at $1,233,745.52. The disclosure for this sale can be found here. Insiders have sold a total of 364,304 shares of company stock valued at $9,314,205 in the last 90 days. 13.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Toast from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Royal Bank of Canada upped their price target on Toast from $23.00 to $27.00 and gave the company a “sector perform” rating in a report on Wednesday, May 8th. Robert W. Baird lowered Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a report on Tuesday, May 21st. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $26.00 target price on shares of Toast in a research note on Wednesday, May 29th. Finally, Baird R W downgraded shares of Toast from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Toast currently has an average rating of “Hold” and a consensus target price of $26.65.

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.