Raleigh Capital Management Inc. Acquires 720 Shares of Toast, Inc. (NYSE:TOST)

Raleigh Capital Management Inc. boosted its stake in shares of Toast, Inc. (NYSE:TOST) by 93.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,491 shares of the company’s stock after acquiring an additional 720 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Toast were worth $42,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TOST. 1858 Wealth Management LLC bought a new position in Toast in the 3rd quarter valued at $209,000. Toth Financial Advisory Corp acquired a new position in shares of Toast during the third quarter valued at $28,000. Penn Davis Mcfarland Inc. bought a new position in Toast in the third quarter valued at about $212,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Toast by 61.1% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,331 shares of the company’s stock valued at $1,085,000 after acquiring an additional 14,538 shares during the last quarter. Finally, nVerses Capital LLC increased its position in Toast by 28.6% in the third quarter. nVerses Capital LLC now owns 36,400 shares of the company’s stock worth $1,030,000 after purchasing an additional 8,100 shares during the period. Institutional investors own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Robert W. Baird raised their target price on shares of Toast from $28.00 to $30.00 and gave the company a “neutral” 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 price objective for the company from $21.00 to $33.00 in a research note on Thursday, July 18th. JPMorgan Chase & Co. lifted their target price on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Bank of America increased their price target on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, Morgan Stanley lifted their price objective on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.94.

Toast Stock Down 0.4 %

Shares of TOST stock opened at $29.25 on Thursday. Toast, Inc. has a 12-month low of $13.77 and a 12-month high of $30.70. The firm has a fifty day moving average of $26.55 and a 200-day moving average of $25.29. The company has a market capitalization of $13.25 billion, a price-to-earnings ratio of -58.50 and a beta of 1.76.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $1.24 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) EPS. On average, equities analysts expect that Toast, Inc. will post -0.1 EPS for the current year.

Insider Buying and Selling at Toast

In other news, General Counsel Brian R. Elworthy sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the completion of the transaction, the general counsel now directly owns 177,836 shares of the company’s stock, valued at $5,404,436.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $30.39, for a total value of $9,117,000.00. Following the transaction, the general counsel now directly owns 177,836 shares of the company’s stock, valued at $5,404,436.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,387,269 shares of company stock worth $38,394,140. Corporate insiders own 13.32% of the company’s stock.

About Toast

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.