Toast, Inc. $TOST Holdings Decreased by First Trust Advisors LP

First Trust Advisors LP lowered its stake in Toast, Inc. (NYSE:TOST) by 12.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,640,490 shares of the company’s stock after selling 239,668 shares during the quarter. First Trust Advisors LP owned about 0.32% of Toast worth $59,894,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC boosted its stake in Toast by 74.4% during the third quarter. Jennison Associates LLC now owns 15,000,561 shares of the company’s stock valued at $547,670,000 after buying an additional 6,398,674 shares in the last quarter. Norges Bank bought a new stake in Toast in the second quarter worth about $219,324,000. Marshall Wace LLP raised its position in Toast by 108.3% in the second quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock worth $349,333,000 after acquiring an additional 4,100,104 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Toast by 35.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,517,216 shares of the company’s stock valued at $274,454,000 after acquiring an additional 1,982,566 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in Toast by 65.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 4,314,200 shares of the company’s stock valued at $191,076,000 after acquiring an additional 1,701,900 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Citigroup lowered their price objective on shares of Toast from $51.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Jefferies Financial Group set a $35.00 target price on shares of Toast in a research note on Friday, February 13th. Truist Financial set a $36.00 target price on shares of Toast in a report on Wednesday, February 25th. Mizuho decreased their price target 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. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Toast in a report on Monday, December 29th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Toast presently has a consensus rating of “Moderate Buy” and an average target price of $40.46.

Insiders Place Their Bets

In related news, CFO Elena Gomez sold 1,437 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 164,629 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, CRO Jonathan Vassil sold 1,454 shares of Toast stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total transaction of $44,114.36. Following the transaction, the executive owned 139,893 shares in the company, valued at approximately $4,244,353.62. The trade was a 1.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 100,856 shares of company stock worth $3,540,449 in the last quarter. Corporate insiders own 12.14% of the company’s stock.

Toast Trading Down 2.1%

NYSE TOST opened at $28.88 on Wednesday. Toast, Inc. has a 1 year low of $24.35 and a 1 year high of $49.66. The company has a market cap of $15.13 billion, a PE ratio of 53.48 and a beta of 1.95. The stock’s 50-day moving average price is $30.87 and its two-hundred day moving average price is $35.12.

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

Toast declared that its board has authorized a stock repurchase plan on Thursday, February 12th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.