Toast, Inc. $TOST Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its position in shares of Toast, Inc. (NYSE:TOST) by 60.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 181,000 shares of the company’s stock after selling 277,261 shares during the quarter. Intech Investment Management LLC’s holdings in Toast were worth $6,608,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cim LLC lifted its holdings in shares of Toast by 0.7% in the 2nd quarter. Cim LLC now owns 38,302 shares of the company’s stock valued at $1,696,000 after buying an additional 273 shares during the period. Bridgewater Advisors Inc. boosted its position in shares of Toast by 2.3% during the 3rd quarter. Bridgewater Advisors Inc. now owns 13,107 shares of the company’s stock worth $472,000 after purchasing an additional 294 shares in the last quarter. Trinity Financial Advisors LLC grew its stake in shares of Toast by 2.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 12,094 shares of the company’s stock worth $442,000 after purchasing an additional 296 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Toast by 4.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 6,921 shares of the company’s stock valued at $307,000 after purchasing an additional 306 shares in the last quarter. Finally, Purus Wealth Management LLC lifted its stake in shares of Toast by 5.8% in the third quarter. Purus Wealth Management LLC now owns 6,002 shares of the company’s stock valued at $219,000 after purchasing an additional 330 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Activity

In related news, President Stephen Fredette sold 1,060 shares of Toast stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total value of $32,160.40. Following the transaction, the president directly owned 913,067 shares in the company, valued at $27,702,452.78. The trade was a 0.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Brian R. Elworthy sold 3,303 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $113,557.14. Following the sale, the general counsel directly owned 235,757 shares in the company, valued at $8,105,325.66. This trade represents a 1.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 100,856 shares of company stock valued at $3,540,449 in the last ninety days. 12.14% of the stock is owned by company insiders.

Toast Price Performance

Shares of NYSE TOST opened at $27.33 on Friday. The business’s fifty day moving average price is $31.87 and its two-hundred day moving average price is $35.90. The firm has a market capitalization of $14.32 billion, a PE ratio of 50.60 and a beta of 1.93. Toast, Inc. has a 1-year low of $24.35 and a 1-year high of $49.66.

Toast (NYSE:TOST) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a net margin of 5.56% and a return on equity of 18.14%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the company posted $0.05 earnings per share. Toast’s revenue was up 22.0% compared to the same quarter last year. Equities research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Toast declared that its board has authorized a stock repurchase program on Thursday, February 12th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TOST shares. Mizuho lowered their target price on shares of Toast from $57.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. Needham & Company LLC decreased their price target on Toast from $60.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Wolfe Research downgraded Toast from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 8th. The Goldman Sachs Group reduced their price objective on Toast from $43.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Finally, Stephens set a $42.00 target price on Toast in a report on Friday, January 16th. Seventeen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Toast presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.46.

Toast Company 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.