GAM Holding AG Invests $711,000 in Toast, Inc. $TOST

GAM Holding AG acquired a new stake in shares of Toast, Inc. (NYSE:TOST) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 19,463 shares of the company’s stock, valued at approximately $711,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its position in Toast by 331.0% in the 2nd 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 purchased a new position in shares of Toast in the 2nd quarter worth $219,324,000. Marshall Wace LLP grew its holdings in shares of Toast by 108.3% in the second quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock worth $349,333,000 after acquiring an additional 4,100,104 shares during the period. 1832 Asset Management L.P. increased 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 acquiring an additional 1,701,900 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Toast by 59.7% in the second quarter. Federated Hermes Inc. now owns 4,024,942 shares of the company’s stock valued at $178,265,000 after acquiring an additional 1,504,507 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Trading Down 4.3%

NYSE TOST opened at $33.98 on Friday. Toast, Inc. has a 12 month low of $28.12 and a 12 month high of $49.66. The stock has a market cap of $17.50 billion, a price-to-earnings ratio of 79.02 and a beta of 1.93. The company’s 50 day moving average is $35.55 and its two-hundred day moving average is $39.87.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) 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 $1.58 billion. Toast had a return on equity of 15.77% and a net margin of 4.68%.The business’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. Sell-side analysts forecast that Toast, Inc. will post 0.39 EPS for the current year.

Insiders Place Their Bets

In related news, President Stephen Fredette sold 1,732 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total transaction of $61,555.28. Following the completion of the sale, the president owned 900,264 shares in the company, valued at approximately $31,995,382.56. This trade represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Jonathan Vassil sold 1,442 shares of Toast stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total value of $51,248.68. Following the sale, the executive directly owned 71,424 shares in the company, valued at $2,538,408.96. This trade represents a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,986 shares of company stock worth $283,822 in the last three months. 12.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TOST shares. BNP Paribas Exane upgraded Toast from a “neutral” rating to an “outperform” rating and set a $40.00 price target for the company in a research note on Monday, December 1st. Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Citigroup raised shares of Toast to a “strong-buy” rating in a report on Thursday, October 23rd. UBS Group reiterated a “buy” rating on shares of Toast in a research report on Thursday, December 18th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Toast in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.18.

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.