Toast, Inc. $TOST Shares Bought by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC lifted its position in shares of Toast, Inc. (NYSE:TOST) by 223.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,407 shares of the company’s stock after purchasing an additional 20,312 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Toast were worth $1,044,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital International Investors lifted its holdings in Toast by 7.4% in the 3rd quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock worth $1,768,256,000 after buying an additional 3,351,545 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Toast by 0.8% in the third quarter. Vanguard Group Inc. now owns 44,764,157 shares of the company’s stock worth $1,634,339,000 after acquiring an additional 352,435 shares in the last quarter. Jennison Associates LLC boosted its holdings in Toast by 74.4% in the third quarter. Jennison Associates LLC now owns 15,000,561 shares of the company’s stock valued at $547,670,000 after purchasing an additional 6,398,674 shares during the last quarter. State Street Corp grew its stake in Toast by 3.5% during the 3rd quarter. State Street Corp now owns 9,538,312 shares of the company’s stock valued at $348,244,000 after purchasing an additional 325,423 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Toast by 2,432.8% during the 3rd quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock worth $299,957,000 after purchasing an additional 7,891,383 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Price Performance

TOST stock opened at $26.49 on Wednesday. The firm has a market cap of $13.88 billion, a price-to-earnings ratio of 49.05 and a beta of 1.95. Toast, Inc. has a 1-year low of $24.35 and a 1-year high of $49.66. The firm has a fifty day moving average price of $28.55 and a two-hundred day moving average price of $33.51.

Toast (NYSE:TOST) last posted its quarterly 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 business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the business posted $0.05 earnings per share. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. As a group, analysts expect that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Toast declared that its board has approved a stock repurchase program on Thursday, February 12th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 3,303 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 value of $113,557.14. Following the completion of the transaction, the general counsel directly owned 235,757 shares in the company, valued at $8,105,325.66. The trade was a 1.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Stephen Fredette sold 4,866 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $167,293.08. Following the sale, the president owned 910,606 shares in the company, valued at $31,306,634.28. The trade was a 0.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 100,856 shares of company stock valued at $3,540,449 over the last ninety days. Insiders own 12.14% of the company’s stock.

Analyst Upgrades and Downgrades

TOST has been the subject of several research analyst reports. DA Davidson reduced their target price on Toast from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Tuesday, February 17th. UBS Group set a $40.00 price target on shares of Toast in a report on Friday, February 13th. Citigroup decreased their price objective on shares of Toast from $51.00 to $42.00 and set a “buy” rating for the company in a report on Friday, February 13th. Stephens set a $42.00 target price on shares of Toast in a research report on Friday, January 16th. Finally, Morgan Stanley set a $51.00 target price on shares of Toast in a research note on Friday, February 13th. Seventeen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.88.

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.