Toast, Inc. $TOST Stock Position Lowered by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. decreased its position in Toast, Inc. (NYSE:TOST) by 67.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 338,917 shares of the company’s stock after selling 717,210 shares during the period. Jupiter Asset Management Ltd. owned about 0.07% of Toast worth $12,374,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Toast by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 44,764,157 shares of the company’s stock worth $1,634,339,000 after purchasing an additional 352,435 shares during the last quarter. Jennison Associates LLC increased 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 worth $547,670,000 after buying an additional 6,398,674 shares during the last quarter. State Street Corp raised its position in Toast by 2.7% during the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock valued at $408,039,000 after acquiring an additional 245,276 shares in the last quarter. Geode Capital Management LLC raised its position in Toast by 2.8% during the second quarter. Geode Capital Management LLC now owns 7,902,519 shares of the company’s stock valued at $348,906,000 after acquiring an additional 218,537 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Toast by 108.3% in the second quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock valued at $349,333,000 after acquiring an additional 4,100,104 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Toast news, CFO Elena Gomez sold 1,437 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total value of $43,598.58. Following the sale, the chief financial officer directly owned 164,629 shares in the company, valued at $4,994,843.86. This trade represents a 0.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Aman Narang sold 1,648 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total transaction of $50,000.32. Following the transaction, the chief executive officer owned 340,723 shares in the company, valued at approximately $10,337,535.82. The trade was a 0.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 100,856 shares of company stock valued at $3,540,449 in the last 90 days. 12.14% of the stock is currently owned by corporate insiders.

Toast Stock Performance

Shares of NYSE:TOST opened at $26.99 on Friday. The stock’s 50-day moving average is $32.78 and its 200-day moving average is $36.55. The company has a market cap of $14.14 billion, a P/E ratio of 49.98 and a beta of 1.93. Toast, Inc. has a 52-week low of $25.91 and a 52-week high of $49.66.

Toast (NYSE:TOST) last announced its earnings results on Thursday, February 12th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.08). The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. Toast had a net margin of 5.56% and a return on equity of 18.14%. Toast’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS. As a group, equities analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

Toast declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 12th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TOST. Royal Bank Of Canada set a $45.00 price target on shares of Toast in a report on Wednesday, November 5th. Jefferies Financial Group set a $35.00 target price on shares of Toast in a research report on Friday, February 13th. UBS Group set a $40.00 target price on Toast in a report on Friday, February 13th. Morgan Stanley set a $51.00 price target on Toast in a research note on Friday, February 13th. Finally, Citigroup cut their price objective on Toast from $51.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Toast presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.71.

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.