Toast, Inc. $TOST Shares Sold by Mizuho Markets Cayman LP

Mizuho Markets Cayman LP reduced its holdings in shares of Toast, Inc. (NYSE:TOST) by 85.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,566 shares of the company’s stock after selling 91,864 shares during the quarter. Mizuho Markets Cayman LP’s holdings in Toast were worth $568,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of TOST. Allianz Asset Management GmbH increased its position in Toast by 322.0% during the third quarter. Allianz Asset Management GmbH now owns 362,765 shares of the company’s stock worth $13,245,000 after buying an additional 276,803 shares in the last quarter. Candriam S.C.A. boosted its stake in shares of Toast by 10.9% during the third quarter. Candriam S.C.A. now owns 602,200 shares of the company’s stock valued at $21,986,000 after acquiring an additional 59,045 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Toast by 49.5% during the third quarter. Nordea Investment Management AB now owns 138,619 shares of the company’s stock valued at $4,988,000 after acquiring an additional 45,898 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Toast by 17.2% during the third quarter. Citigroup Inc. now owns 1,042,102 shares of the company’s stock worth $38,047,000 after buying an additional 152,807 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Toast in the third quarter valued at approximately $2,891,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insiders Place Their Bets

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

Toast Price Performance

Toast stock opened at $28.39 on Wednesday. Toast, Inc. has a 12-month low of $24.35 and a 12-month high of $49.66. The company has a market capitalization of $14.88 billion, a price-to-earnings ratio of 52.58 and a beta of 1.95. The firm’s fifty day moving average price is $30.16 and its 200 day moving average price is $34.55.

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

Toast declared that its Board of Directors has approved a stock repurchase program on Thursday, February 12th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TOST shares. DA Davidson decreased their target price on shares of Toast from $36.00 to $33.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Morgan Stanley set a $51.00 target price on shares of Toast in a research report on Friday, February 13th. UBS Group set a $40.00 target price on shares of Toast in a report on Friday, February 13th. Wolfe Research lowered Toast from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 8th. Finally, JPMorgan Chase & Co. upgraded Toast from a “neutral” rating to an “overweight” rating and set a $43.00 target price on the stock in a report on Thursday, December 4th. Seventeen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Toast has an average rating of “Moderate Buy” and a consensus price target of $40.46.

Toast Company 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.