Vanguard Group Inc. Has $1.63 Billion Stock Holdings in Toast, Inc. $TOST

Vanguard Group Inc. lifted its holdings in shares of Toast, Inc. (NYSE:TOST) by 0.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 44,764,157 shares of the company’s stock after acquiring an additional 352,435 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Toast worth $1,634,339,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. RiverPark Advisors LLC bought a new position in Toast during the second quarter worth about $30,000. Quent Capital LLC bought a new stake in shares of Toast in the 3rd quarter valued at approximately $27,000. Alpine Bank Wealth Management acquired a new position in shares of Toast in the 3rd quarter worth approximately $30,000. Motco acquired a new position in shares of Toast in the 2nd quarter worth approximately $44,000. Finally, Loomis Sayles & Co. L P bought a new position in shares of Toast during the 2nd quarter worth approximately $42,000. Institutional investors own 82.91% of the company’s stock.

Insider Transactions at Toast

In other news, CEO Aman Narang sold 8,591 shares of Toast stock in a transaction on Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $295,358.58. Following the completion of the sale, the chief executive officer directly owned 338,850 shares of the company’s stock, valued at approximately $11,649,663. This trade represents a 2.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elena Gomez sold 6,672 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $229,383.36. Following the sale, the chief financial officer owned 162,153 shares of the company’s stock, valued at approximately $5,574,820.14. The trade was a 3.95% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 100,856 shares of company stock worth $3,540,449. Corporate insiders own 12.14% of the company’s stock.

Toast Trading Down 2.3%

TOST opened at $26.99 on Friday. Toast, Inc. has a 1-year low of $25.91 and a 1-year high of $49.66. The stock has a market capitalization of $14.14 billion, a PE ratio of 49.98 and a beta of 1.93. The firm has a 50-day moving average price of $32.78 and a two-hundred day moving average price of $36.55.

Toast (NYSE:TOST) last released its quarterly 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 company 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 period last year, the company earned $0.05 earnings per share. On average, research 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 allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

TOST has been the topic of a number of analyst reports. Stephens set a $42.00 price target on Toast in a research report on Friday, January 16th. DA Davidson reduced their target price on shares of Toast from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Tuesday. Canaccord Genuity Group set a $37.00 target price on shares of Toast 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 for the company in a research report on Monday, December 1st. Finally, Oppenheimer cut their price target on shares of Toast from $48.00 to $39.00 and set an “outperform” rating for the company in a report on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $40.71.

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.