Quent Capital LLC Has $3.21 Million Position in Toast, Inc. (NYSE:TOST)

Quent Capital LLC lowered its holdings in shares of Toast, Inc. (NYSE:TOST) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,361 shares of the company’s stock after selling 4,700 shares during the period. Quent Capital LLC’s holdings in Toast were worth $3,213,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TOST. Whittier Trust Co. boosted its stake in shares of Toast by 365.0% in the 1st quarter. Whittier Trust Co. now owns 1,660 shares of the company’s stock valued at $29,000 after purchasing an additional 1,303 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Toast by 277.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,710 shares of the company’s stock valued at $31,000 after purchasing an additional 1,257 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Toast by 2,196.0% in the 1st quarter. Spire Wealth Management now owns 2,296 shares of the company’s stock valued at $41,000 after purchasing an additional 2,196 shares in the last quarter. CWM LLC boosted its stake in shares of Toast by 95.1% in the 1st quarter. CWM LLC now owns 2,641 shares of the company’s stock valued at $47,000 after purchasing an additional 1,287 shares in the last quarter. Finally, Seeyond acquired a new stake in shares of Toast in the 4th quarter valued at $56,000. Institutional investors and hedge funds own 60.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TOST. Stephens boosted their price objective on Toast from $22.00 to $25.00 in a report on Wednesday, August 9th. Jefferies Financial Group began coverage on Toast in a report on Tuesday, July 11th. They set a “buy” rating and a $28.00 price objective for the company. Bank of America began coverage on Toast in a report on Thursday, June 1st. They set a “buy” rating for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $27.00 price target on shares of Toast in a research note on Tuesday, September 5th. Finally, UBS Group raised Toast from a “neutral” rating to a “buy” rating and upped their price target for the company from $25.00 to $30.00 in a research note on Wednesday, September 6th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Toast presently has an average rating of “Moderate Buy” and an average target price of $25.22.

Toast Trading Down 3.3 %

TOST stock traded down $0.68 during mid-day trading on Friday, reaching $20.12. The company’s stock had a trading volume of 8,983,104 shares, compared to its average volume of 5,286,520. The business’s 50 day moving average price is $22.19 and its 200 day moving average price is $20.41. Toast, Inc. has a 12 month low of $15.77 and a 12 month high of $27.00.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, August 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.05). The company had revenue of $978.00 million for the quarter, compared to analysts’ expectations of $943.06 million. Toast had a negative net margin of 11.33% and a negative return on equity of 34.23%. The firm’s quarterly revenue was up 44.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.11) EPS. Research analysts forecast that Toast, Inc. will post -0.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Stephen Fredette sold 2,168 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $22.20, for a total transaction of $48,129.60. Following the transaction, the insider now owns 2,973,744 shares of the company’s stock, valued at approximately $66,017,116.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Christopher P. Comparato sold 49,053 shares of the business’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $22.09, for a total transaction of $1,083,580.77. Following the sale, the chief executive officer now directly owns 367,816 shares in the company, valued at approximately $8,125,055.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephen Fredette sold 2,168 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $22.20, for a total value of $48,129.60. Following the sale, the insider now owns 2,973,744 shares in the company, valued at $66,017,116.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 595,851 shares of company stock valued at $14,437,494. Insiders own 13.70% of the company’s stock.

Toast Profile

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast POS, a software module that integrates payment processing with point of sale functionality; Toast Invoicing that allows restaurants to send invoices and collect payment; Toast Mobile Order & Pay, which allows guests to scan a QR code to browse the menu, order, and pay from mobile; Kitchen Display System software that connects the house with the kitchen staff; and Multi-Location Management, a tool to manage operations and configure menus across multiple locations and channels.