Glynn Capital Management LLC Trims Stock Holdings in Toast, Inc. $TOST

Glynn Capital Management LLC decreased its stake in shares of Toast, Inc. (NYSE:TOST) by 36.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 367,321 shares of the company’s stock after selling 206,463 shares during the quarter. Toast accounts for about 4.2% of Glynn Capital Management LLC’s holdings, making the stock its 14th biggest holding. Glynn Capital Management LLC’s holdings in Toast were worth $13,411,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in Toast by 207.8% in the 3rd quarter. Victory Capital Management Inc. now owns 777,861 shares of the company’s stock worth $28,400,000 after buying an additional 525,159 shares in the last quarter. Elo Mutual Pension Insurance Co boosted its position in shares of Toast by 26.0% during the third quarter. Elo Mutual Pension Insurance Co now owns 72,668 shares of the company’s stock worth $2,653,000 after purchasing an additional 14,990 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Toast by 192.8% during the third quarter. American Century Companies Inc. now owns 1,485,601 shares of the company’s stock worth $54,239,000 after acquiring an additional 978,225 shares during the period. Huntington National Bank grew its position in Toast by 106.2% in the third quarter. Huntington National Bank now owns 3,765 shares of the company’s stock valued at $137,000 after purchasing an additional 1,939 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Toast in the 3rd quarter valued at about $2,891,000. Institutional investors own 82.91% of the company’s stock.

Toast Stock Up 1.0%

Toast stock opened at $27.57 on Tuesday. Toast, Inc. has a 52 week low of $24.35 and a 52 week high of $49.66. The company’s 50 day moving average price is $31.68 and its two-hundred day moving average price is $35.68. The stock has a market cap of $14.45 billion, a P/E ratio of 51.06 and a beta of 1.93.

Toast (NYSE:TOST) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 18.14% and a net margin of 5.56%.The business’s revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. On average, equities analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Toast declared that its Board of Directors has authorized a share repurchase program on Thursday, February 12th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. DA Davidson decreased their price target on Toast from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 17th. JPMorgan Chase & Co. upgraded shares of Toast from a “neutral” rating to an “overweight” rating and set a $43.00 target price on the stock in a research report on Thursday, December 4th. Wells Fargo & Company dropped their price target on Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Canaccord Genuity Group set a $37.00 price objective on Toast in a research report on Friday, February 13th. Finally, UBS Group set a $40.00 target price on Toast in a research report on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.46.

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 1,060 shares of Toast stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total value of $32,160.40. Following the sale, the president owned 913,067 shares of the company’s stock, valued at approximately $27,702,452.78. The trade was a 0.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Aman Narang sold 1,648 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total transaction of $50,000.32. Following the completion of 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 ownership of the stock. 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 three months. 12.14% of the stock is owned by corporate 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.