Lavelle Capital LP Takes Position in Toast, Inc. $TOST

Lavelle Capital LP purchased a new position in Toast, Inc. (NYSE:TOST) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 55,000 shares of the company’s stock, valued at approximately $1,458,000. Toast makes up 0.9% of Lavelle Capital LP’s investment portfolio, making the stock its 24th largest position.

A number of other large investors also recently bought and sold shares of the business. Jennison Associates LLC increased its stake in Toast by 1.0% in the fourth quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock worth $538,259,000 after purchasing an additional 157,394 shares during the period. Morgan Stanley lifted its holdings in Toast by 6.7% during the 4th quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock valued at $368,332,000 after buying an additional 653,487 shares in the last quarter. State Street Corp lifted its holdings in Toast by 3.0% during the 4th quarter. State Street Corp now owns 9,820,594 shares of the company’s stock valued at $348,729,000 after buying an additional 282,282 shares in the last quarter. XN LP boosted its position in Toast by 50.8% in the 4th quarter. XN LP now owns 8,988,386 shares of the company’s stock valued at $319,178,000 after buying an additional 3,029,856 shares during the period. Finally, Geode Capital Management LLC grew its stake in Toast by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company’s stock worth $307,214,000 after acquiring an additional 169,230 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Down 1.4%

Toast stock opened at $32.38 on Friday. The business has a fifty day moving average of $27.47 and a two-hundred day moving average of $27.92. The firm has a market cap of $16.71 billion, a P/E ratio of 49.82 and a beta of 1.74. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $49.66.

Toast (NYSE:TOST) last announced its earnings results on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.08). The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. Toast had a net margin of 6.39% and a return on equity of 20.86%. The firm’s revenue was up 21.9% compared to the same quarter last year. During the same period last year, the business posted $0.09 EPS. Equities analysts expect that Toast, Inc. will post 0.97 earnings per share for the current year.

Insider Activity at Toast

In other news, President Stephen Fredette sold 9,146 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total value of $263,862.10. Following the sale, the president directly owned 931,449 shares in the company, valued at approximately $26,872,303.65. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Jonathan Vassil sold 3,150 shares of Toast stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $30.03, for a total transaction of $94,594.50. Following the completion of the transaction, the executive directly owned 69,966 shares in the company, valued at approximately $2,101,078.98. The trade was a 4.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 159,265 shares of company stock valued at $4,278,832 over the last 90 days. Company insiders own 10.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Truist Financial raised their target price on shares of Toast from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. BMO Capital Markets reissued an “outperform” rating on shares of Toast in a research note on Monday, June 1st. Morgan Stanley set a $45.00 price objective on Toast in a report on Friday, May 8th. Piper Sandler assumed coverage on Toast in a research report on Wednesday, June 10th. They set an “overweight” rating and a $32.00 target price for the company. Finally, Rothschild & Co Redburn reiterated a “neutral” rating and issued a $35.00 target price on shares of Toast in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.15.

Toast Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.