Canton Hathaway LLC Has $359,000 Stock Holdings in Toast, Inc. $TOST

Canton Hathaway LLC grew its holdings in shares of Toast, Inc. (NYSE:TOST) by 162.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,113 shares of the company’s stock after buying an additional 5,023 shares during the quarter. Canton Hathaway LLC’s holdings in Toast were worth $359,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new position in shares of Toast during the second quarter valued at about $31,000. REAP Financial Group LLC boosted its stake in Toast by 173.3% during the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock valued at $35,000 after purchasing an additional 506 shares during the last quarter. Motco acquired a new position in Toast during the 2nd quarter valued at about $44,000. Whipplewood Advisors LLC boosted its stake in Toast by 2,356.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 1,007 shares of the company’s stock valued at $45,000 after purchasing an additional 966 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its stake in Toast by 1,383.8% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,009 shares of the company’s stock valued at $45,000 after purchasing an additional 941 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Aman Narang sold 13,652 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $485,465.12. Following the transaction, the chief executive officer owned 318,150 shares in the company, valued at approximately $11,313,414. This represents a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Fredette sold 7,550 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $268,478.00. Following the completion of the transaction, the president owned 898,475 shares in the company, valued at approximately $31,949,771. The trade was a 0.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 62,196 shares of company stock valued at $2,398,513 in the last quarter. 12.14% of the stock is currently owned by company insiders.

Toast Stock Down 3.7%

TOST opened at $34.40 on Friday. The stock has a market cap of $17.54 billion, a price-to-earnings ratio of 101.18 and a beta of 1.94. Toast, Inc. has a twelve month low of $28.12 and a twelve month high of $49.66. The company’s 50-day moving average price is $39.24 and its two-hundred day moving average price is $41.27.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The firm’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 earnings per share. As a group, sell-side analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Toast in a research note on Thursday, July 17th. They set a “buy” rating and a $54.00 price target for the company. Barclays reiterated an “overweight” rating on shares of Toast in a research note on Wednesday, July 16th. Robert W. Baird cut their price target on shares of Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Weiss Ratings restated a “hold (c)” rating on shares of Toast in a report on Wednesday, October 8th. Finally, Citigroup upgraded shares of Toast to a “strong-buy” rating in a report on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.17.

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.