LRI Investments LLC Buys 2,057 Shares of Toast, Inc. $TOST

LRI Investments LLC raised its stake in Toast, Inc. (NYSE:TOST) by 164.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,311 shares of the company’s stock after purchasing an additional 2,057 shares during the period. LRI Investments LLC’s holdings in Toast were worth $147,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TOST. Farther Finance Advisors LLC boosted its holdings in Toast by 29.4% in the 1st quarter. Farther Finance Advisors LLC now owns 3,151 shares of the company’s stock valued at $108,000 after purchasing an additional 716 shares during the period. GAMMA Investing LLC boosted its holdings in Toast by 38.7% in the 1st quarter. GAMMA Investing LLC now owns 3,861 shares of the company’s stock valued at $128,000 after purchasing an additional 1,077 shares during the period. SG Americas Securities LLC bought a new stake in Toast in the 1st quarter valued at $877,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Toast by 14.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 26,106 shares of the company’s stock valued at $866,000 after purchasing an additional 3,355 shares during the period. Finally, Dynamic Advisor Solutions LLC bought a new stake in Toast in the 1st quarter valued at $208,000. 82.91% of the stock is owned by institutional investors.

Toast Stock Down 5.0%

Shares of TOST stock opened at $35.04 on Monday. Toast, Inc. has a 12-month low of $27.65 and a 12-month high of $49.66. The company has a market capitalization of $17.87 billion, a P/E ratio of 103.04 and a beta of 1.94. The firm has a 50-day moving average price of $41.14 and a 200 day moving average price of $40.88.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). Toast had a net margin of 4.07% and a return on equity of 14.19%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the business earned $0.02 earnings per share. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wells Fargo & Company started coverage on shares of Toast in a report on Wednesday, July 16th. They set a “buy” rating for the company. Barclays reiterated an “overweight” rating on shares of Toast in a research report on Wednesday, July 16th. Morgan Stanley lifted their target price on shares of Toast from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Toast from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Finally, Jefferies Financial Group lifted their target price on shares of Toast from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.78.

Insider Activity

In related news, CEO Aman Narang sold 13,652 shares of Toast stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $485,465.12. Following the completion of the transaction, the chief executive officer directly owned 318,150 shares of the company’s stock, valued at $11,313,414. This trade represents a 4.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Elena Gomez sold 9,054 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $321,960.24. Following the completion of the sale, the chief financial officer owned 149,572 shares of the company’s stock, valued at $5,318,780.32. The trade was a 5.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,196 shares of company stock worth $2,398,513 over the last ninety days. Corporate insiders own 12.14% of the company’s stock.

Toast 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.