Trevian Wealth Management LLC Purchases Shares of 49,377 Toast, Inc. (NYSE:TOST)

Trevian Wealth Management LLC acquired a new position in shares of Toast, Inc. (NYSE:TOST) in the third quarter, HoldingsChannel reports. The institutional investor acquired 49,377 shares of the company’s stock, valued at approximately $1,398,000. Toast comprises 1.1% of Trevian Wealth Management LLC’s portfolio, making the stock its 12th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. West Branch Capital LLC acquired a new stake in shares of Toast in the second quarter valued at approximately $26,000. LRI Investments LLC acquired a new stake in shares of Toast during the 1st quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Toast in the second quarter worth $33,000. 1620 Investment Advisors Inc. acquired a new position in Toast in the second quarter valued at about $34,000. Finally, Harbor Investment Advisory LLC bought a new stake in Toast during the first quarter worth about $37,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insiders Place Their Bets

In related news, President Stephen Fredette sold 1,127 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $27,048.00. Following the completion of the transaction, the president now owns 2,849,709 shares in the company, valued at approximately $68,393,016. This 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 link. In other news, CEO Aman Narang sold 10,106 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total value of $280,643.62. Following the sale, the chief executive officer now directly owns 968,095 shares of the company’s stock, valued at approximately $26,883,998.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Stephen Fredette sold 1,127 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $27,048.00. Following the transaction, the president now directly owns 2,849,709 shares of the company’s stock, valued at approximately $68,393,016. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,030,562 shares of company stock valued at $26,926,059 in the last three months. 13.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TOST shares. Mizuho upgraded shares of Toast from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $21.00 to $33.00 in a research report on Thursday, July 18th. Morgan Stanley boosted their price objective on shares of Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Bank of America lifted 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. JPMorgan Chase & Co. boosted their price target on Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Toast in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Toast has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

Toast Stock Performance

Shares of NYSE:TOST opened at $28.40 on Friday. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $29.92. The business’s 50 day simple moving average is $25.62 and its two-hundred day simple moving average is $24.96. The firm has a market cap of $12.87 billion, a P/E ratio of -57.80 and a beta of 1.76.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the firm earned ($0.19) earnings per share. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. On average, equities analysts forecast that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Toast Company 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.