Greenwood Gearhart Inc. Has $1.56 Million Position in Toast, Inc. $TOST

Greenwood Gearhart Inc. cut its stake in Toast, Inc. (NYSE:TOST) by 37.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,740 shares of the company’s stock after selling 25,560 shares during the quarter. Greenwood Gearhart Inc.’s holdings in Toast were worth $1,560,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TOST. Jennison Associates LLC raised its position in shares of Toast by 331.0% during the second quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock worth $380,978,000 after purchasing an additional 6,606,245 shares during the period. Norges Bank bought a new stake in Toast during the 2nd quarter worth about $219,324,000. Marshall Wace LLP grew its holdings in shares of Toast by 108.3% in the 2nd 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Toast by 35.8% in the third 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. boosted its position in Toast by 65.1% during the second quarter. 1832 Asset Management L.P. now owns 4,314,200 shares of the company’s stock valued at $191,076,000 after purchasing an additional 1,701,900 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Price Performance

TOST stock opened at $26.83 on Thursday. Toast, Inc. has a one year low of $24.35 and a one year high of $49.66. The stock has a market cap of $14.06 billion, a price-to-earnings ratio of 49.68 and a beta of 1.93. The company has a fifty day moving average price of $32.23 and a two-hundred day moving average price of $36.07.

Toast (NYSE:TOST) last posted 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). The company had revenue of $1.63 billion for 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 prior year, the business posted $0.05 EPS. Research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Toast announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 12th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have weighed in on TOST shares. JPMorgan Chase & Co. upgraded Toast from a “neutral” rating to an “overweight” rating and set a $43.00 price target for the company in a research note on Thursday, December 4th. Oppenheimer cut their price objective on Toast from $48.00 to $39.00 and set an “outperform” rating for the company in a report on Friday, February 13th. BNP Paribas Exane upgraded shares of Toast from a “hold” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Monday, December 1st. Wolfe Research lowered shares of Toast from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 8th. Finally, Wells Fargo & Company cut their price target on shares of Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.46.

Insider Transactions at Toast

In other Toast news, President Stephen Fredette sold 4,866 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 $167,293.08. Following the completion of the sale, the president directly owned 910,606 shares in the company, valued at $31,306,634.28. This trade represents a 0.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 3,303 shares of the business’s 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 sale, the general counsel owned 235,757 shares of the company’s stock, valued at approximately $8,105,325.66. This represents a 1.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 100,856 shares of company stock worth $3,540,449. 12.14% of the stock is currently 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.