Citigroup Inc. Increases Stake in Toast, Inc. $TOST

Citigroup Inc. lifted its stake in Toast, Inc. (NYSE:TOST) by 17.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,042,102 shares of the company’s stock after buying an additional 152,807 shares during the quarter. Citigroup Inc.’s holdings in Toast were worth $38,047,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cim LLC increased its holdings in Toast by 0.7% in the 2nd quarter. Cim LLC now owns 38,302 shares of the company’s stock valued at $1,696,000 after acquiring an additional 273 shares during the last quarter. Bridgewater Advisors Inc. grew its position in shares of Toast by 2.3% during the third quarter. Bridgewater Advisors Inc. now owns 13,107 shares of the company’s stock valued at $472,000 after purchasing an additional 294 shares in the last quarter. Trinity Financial Advisors LLC grew its position in shares of Toast by 2.5% during the third quarter. Trinity Financial Advisors LLC now owns 12,094 shares of the company’s stock valued at $442,000 after purchasing an additional 296 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Toast by 4.6% in the second quarter. Parkside Financial Bank & Trust now owns 6,921 shares of the company’s stock worth $307,000 after purchasing an additional 306 shares during the last quarter. Finally, Purus Wealth Management LLC lifted its position in shares of Toast by 5.8% in the third quarter. Purus Wealth Management LLC now owns 6,002 shares of the company’s stock worth $219,000 after buying an additional 330 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Brian R. Elworthy sold 3,303 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $113,557.14. Following the completion of the sale, the general counsel directly owned 235,757 shares of the company’s stock, valued at approximately $8,105,325.66. The trade was a 1.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elena Gomez sold 1,437 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total transaction of $43,598.58. Following the completion of the transaction, the chief financial officer 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 100,856 shares of company stock valued at $3,540,449. Insiders own 12.14% of the company’s stock.

Toast Price Performance

Toast stock opened at $25.55 on Wednesday. The firm has a market capitalization of $13.39 billion, a P/E ratio of 47.31 and a beta of 1.93. Toast, Inc. has a 1-year low of $24.35 and a 1-year high of $49.66. The company’s 50-day moving average is $32.40 and its 200 day moving average is $36.13.

Toast (NYSE:TOST) last released its 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). Toast had a net margin of 5.56% and a return on equity of 18.14%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the company posted $0.05 EPS. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. Research analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TOST shares. Royal Bank Of Canada set a $45.00 price objective on Toast in a research note on Wednesday, November 5th. Canaccord Genuity Group set a $37.00 target price on shares of Toast in a report on Friday, February 13th. Needham & Company LLC decreased their price target on shares of Toast from $60.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. BNP Paribas Exane upgraded shares of Toast from a “hold” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Monday, December 1st. Finally, Stephens set a $42.00 target price on shares of Toast in a report on Friday, January 16th. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from 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.