Toast, Inc. $TOST Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG decreased its position in Toast, Inc. (NYSE:TOST) by 86.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,628 shares of the company’s stock after selling 69,802 shares during the period. J. Safra Sarasin Holding AG’s holdings in Toast were worth $377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quent Capital LLC purchased a new stake in shares of Toast during the 3rd quarter valued at approximately $27,000. Alpine Bank Wealth Management purchased a new position in Toast in the third quarter worth approximately $30,000. Central Pacific Bank Trust Division increased its stake in Toast by 123.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock worth $33,000 after acquiring an additional 521 shares during the last quarter. Wolff Wiese Magana LLC acquired a new stake in Toast during the third quarter worth $37,000. Finally, Root Financial Partners LLC purchased a new stake in Toast in the third quarter valued at $42,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Activity at Toast

In related news, CEO Aman Narang sold 1,648 shares of Toast 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 $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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Elena Gomez sold 1,437 shares of the company’s 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 $43,598.58. Following the sale, the chief financial officer directly owned 164,629 shares in the company, valued at approximately $4,994,843.86. The trade was a 0.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 34,466 shares of company stock valued at $1,159,703. 12.14% of the stock is owned by company insiders.

Toast Trading Up 1.4%

Shares of NYSE TOST opened at $26.44 on Friday. The stock has a market capitalization of $13.86 billion, a PE ratio of 48.97 and a beta of 1.90. Toast, Inc. has a twelve month low of $24.35 and a twelve month high of $49.66. The stock has a fifty day simple moving average of $28.25 and a 200-day simple moving average of $33.41.

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 the consensus estimate of $0.24 by ($0.08). Toast had a return on equity of 18.14% and a net margin of 5.56%.The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the company posted $0.05 EPS. Toast’s revenue was up 22.0% on a year-over-year basis. On average, equities analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Toast declared that its board has approved a stock buyback program on Thursday, February 12th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently commented on TOST shares. Mizuho decreased their price target on Toast from $57.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Toast in a report on Monday, December 29th. Jefferies Financial Group set a $35.00 target price on shares of Toast in a research report on Friday, February 13th. Wolfe Research lowered shares of Toast from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 8th. Finally, DA Davidson dropped their price target on shares of Toast from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, February 17th. Seventeen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $39.88.

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.