Toast, Inc. $TOST Stock Position Decreased by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC lowered its holdings in Toast, Inc. (NYSE:TOST) by 12.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,854,996 shares of the company’s stock after selling 262,314 shares during the period. Toast comprises about 1.5% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 23rd biggest holding. Zevenbergen Capital Investments LLC owned about 0.36% of Toast worth $65,871,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allianz Asset Management GmbH lifted its stake in Toast by 322.0% in the third quarter. Allianz Asset Management GmbH now owns 362,765 shares of the company’s stock valued at $13,245,000 after buying an additional 276,803 shares during the last quarter. Candriam S.C.A. grew its position in shares of Toast by 10.9% during the third quarter. Candriam S.C.A. now owns 602,200 shares of the company’s stock worth $21,986,000 after acquiring an additional 59,045 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Toast by 49.5% in the 3rd quarter. Nordea Investment Management AB now owns 138,619 shares of the company’s stock worth $4,988,000 after acquiring an additional 45,898 shares during the period. Citigroup Inc. lifted its position in Toast by 17.2% in the 3rd quarter. Citigroup Inc. now owns 1,042,102 shares of the company’s stock valued at $38,047,000 after purchasing an additional 152,807 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Toast during the 3rd quarter valued at about $2,891,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Stock Up 1.7%

Shares of Toast stock opened at $26.07 on Tuesday. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of 48.27 and a beta of 1.95. The business has a fifty day simple moving average of $28.67 and a 200-day simple moving average of $33.61. Toast, Inc. has a fifty-two week low of $24.35 and a fifty-two week high of $49.66.

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

Toast announced that its board has authorized a stock repurchase program on Thursday, February 12th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

TOST has been the topic of a number of recent analyst reports. Canaccord Genuity Group set a $37.00 price target on Toast in a report on Friday, February 13th. Citigroup lowered their target price on Toast from $51.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Wells Fargo & Company reduced their price target on Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. UBS Group set a $40.00 price target on Toast in a research note on Friday, February 13th. Finally, Sanford C. Bernstein set a $39.00 price target on Toast in a report on Monday, February 16th. Seventeen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.46.

Insider Buying and Selling

In related news, CEO Aman Narang sold 8,591 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $295,358.58. Following the completion of the sale, the chief executive officer directly owned 338,850 shares in the company, valued at approximately $11,649,663. This trade represents a 2.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Elena Gomez sold 6,672 shares of Toast stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $229,383.36. Following the completion of the transaction, the chief financial officer owned 162,153 shares in the company, valued at approximately $5,574,820.14. This trade represents a 3.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 100,856 shares of company stock worth $3,540,449. 12.14% of the stock is owned by insiders.

Toast 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.