GFS Advisors LLC Boosts Stock Position in Toast, Inc. (NYSE:TOST)

GFS Advisors LLC boosted its position in Toast, Inc. (NYSE:TOST) by 49,900.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 10,000 shares of the company’s stock after purchasing an additional 9,980 shares during the period. GFS Advisors LLC’s holdings in Toast were worth $283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its position in shares of Toast by 29.3% in the third quarter. Harbor Capital Advisors Inc. now owns 103,110 shares of the company’s stock valued at $2,919,000 after buying an additional 23,345 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Toast by 32.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock worth $58,000 after acquiring an additional 496 shares during the period. Stephens Investment Management Group LLC grew its stake in Toast by 13.1% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company’s stock worth $53,358,000 after acquiring an additional 218,959 shares during the period. S.A. Mason LLC acquired a new position in Toast in the 3rd quarter valued at $352,000. Finally, Pinnacle Associates Ltd. lifted its stake in shares of Toast by 37.6% during the 3rd quarter. Pinnacle Associates Ltd. now owns 15,750 shares of the company’s stock worth $446,000 after purchasing an additional 4,300 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Price Performance

Toast stock opened at $30.98 on Friday. The firm’s fifty day moving average price is $27.37 and its 200 day moving average price is $25.63. The company has a market capitalization of $14.28 billion, a price-to-earnings ratio of -106.83 and a beta of 1.74. Toast, Inc. has a 12-month low of $13.77 and a 12-month high of $31.57.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. Analysts forecast that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TOST has been the subject of a number of recent analyst reports. Robert W. Baird upped their target price on Toast from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. The Goldman Sachs Group upped their price objective on shares of Toast from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $21.00 to $33.00 in a research report on Thursday, July 18th. Morgan Stanley upped their price target on shares of Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $27.00 price target on shares of Toast in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.26.

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 211,686 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the sale, the president now owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the sale, the president now owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Jonathan Vassil sold 4,780 shares of Toast stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total value of $132,740.60. Following the completion of the transaction, the executive now owns 38,266 shares of the company’s stock, valued at $1,062,646.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,370,721 shares of company stock valued at $37,996,988 in the last three months. Corporate insiders own 13.32% 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.