Toast, Inc. $TOST Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. increased its position in Toast, Inc. (NYSE:TOST) by 9,671.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,100,532 shares of the company’s stock after purchasing an additional 1,089,269 shares during the period. Vontobel Holding Ltd.’s holdings in Toast were worth $40,180,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IFM Investors Pty Ltd raised its holdings in shares of Toast by 29.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 83,803 shares of the company’s stock worth $3,712,000 after buying an additional 18,950 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new position in shares of Toast during the 2nd quarter worth approximately $1,329,000. Comerica Bank increased its holdings in shares of Toast by 122.9% in the first quarter. Comerica Bank now owns 76,644 shares of the company’s stock valued at $2,542,000 after purchasing an additional 42,266 shares during the last quarter. Graham Capital Management L.P. grew its position in shares of Toast by 373.5% during the 1st quarter. Graham Capital Management L.P. now owns 43,778 shares of the company’s stock worth $1,452,000 after purchasing an additional 34,532 shares in the last quarter. Finally, Reliant Investment Partners LLC bought a new position in shares of Toast in the 2nd quarter valued at $472,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Performance

Shares of Toast stock opened at $36.53 on Wednesday. The stock has a market cap of $18.81 billion, a PE ratio of 84.95 and a beta of 1.94. Toast, Inc. has a 52-week low of $28.12 and a 52-week high of $49.66. The firm has a 50-day moving average of $35.89 and a 200-day moving average of $40.24.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a return on equity of 15.77% and a net margin of 4.68%.The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm earned $0.07 EPS. The business’s revenue for the quarter was up 25.1% compared to the same quarter last year. Equities research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TOST has been the subject of a number of research analyst reports. Robert W. Baird decreased their target price on Toast from $48.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. DA Davidson set a $42.00 price target on shares of Toast in a report on Wednesday, November 5th. The Goldman Sachs Group dropped their target price on shares of Toast from $51.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Morgan Stanley boosted their price target on Toast from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Toast in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $45.18.

Insiders Place Their Bets

In other news, CFO Elena Gomez sold 2,021 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total value of $71,826.34. Following the sale, the chief financial officer directly owned 151,463 shares of the company’s stock, valued at $5,382,995.02. The trade was a 1.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Jonathan Vassil sold 1,442 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total value of $51,248.68. Following the completion of the transaction, the executive directly owned 71,424 shares of the company’s stock, valued at approximately $2,538,408.96. This trade represents a 1.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,759 shares of company stock valued at $1,769,270 over the last quarter. 12.14% of the stock is owned by company insiders.

About Toast

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.