Duality Advisers LP Invests $1.17 Million in Toast, Inc. (NYSE:TOST)

Duality Advisers LP purchased a new stake in Toast, Inc. (NYSE:TOST) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 47,041 shares of the company’s stock, valued at approximately $1,172,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Park Avenue Securities LLC raised its position in Toast by 1.0% during the first quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock worth $1,080,000 after acquiring an additional 436 shares in the last quarter. Wellington Shields & Co. LLC increased its holdings in shares of Toast by 3.1% in the first quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock valued at $416,000 after purchasing an additional 500 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Toast by 5.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock valued at $255,000 after acquiring an additional 774 shares in the last quarter. Orion Capital Management LLC grew its stake in shares of Toast by 22.5% in the fourth quarter. Orion Capital Management LLC now owns 4,350 shares of the company’s stock valued at $79,000 after acquiring an additional 800 shares in the last quarter. Finally, M&T Bank Corp grew its stake in shares of Toast by 8.0% in the fourth quarter. M&T Bank Corp now owns 11,217 shares of the company’s stock valued at $205,000 after acquiring an additional 829 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on TOST shares. Piper Sandler upped their price target on shares of Toast from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Stephens reiterated an “equal weight” rating and set a $28.00 price objective on shares of Toast in a research note on Thursday, May 30th. Canaccord Genuity Group increased their price objective on shares of Toast from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $26.00 price objective on shares of Toast in a research note on Wednesday, May 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price on shares of Toast in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Toast currently has a consensus rating of “Hold” and a consensus price target of $26.05.

Insider Buying and Selling at Toast

In other Toast news, CEO Aman Narang sold 6,355 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 transaction of $162,942.20. Following the transaction, the chief executive officer now directly owns 1,131,043 shares in the company, valued at approximately $28,999,942.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Aman Narang sold 6,355 shares of Toast stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total transaction of $162,942.20. Following the sale, the chief executive officer now directly owns 1,131,043 shares in the company, valued at approximately $28,999,942.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elena Gomez sold 12,500 shares of Toast stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total value of $329,875.00. Following the sale, the chief financial officer now owns 176,980 shares in the company, valued at $4,670,502.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 229,253 shares of company stock worth $5,630,212. Corporate insiders own 13.32% of the company’s stock.

Toast Stock Performance

Shares of TOST stock traded up $0.85 during trading hours on Friday, hitting $25.22. 5,275,967 shares of the company were exchanged, compared to its average volume of 7,930,834. The company has a 50 day simple moving average of $24.85 and a two-hundred day simple moving average of $22.49. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $27.90. The firm has a market cap of $11.42 billion, a P/E ratio of -48.76 and a beta of 1.76.

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

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.