Fox Run Management L.L.C. Purchases New Position in Toast, Inc. $TOST

Fox Run Management L.L.C. purchased a new stake in Toast, Inc. (NYSE:TOST) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 56,424 shares of the company’s stock, valued at approximately $2,060,000. Toast accounts for about 0.3% of Fox Run Management L.L.C.’s portfolio, making the stock its 27th biggest position.

A number of other institutional investors also recently made changes to their positions in the company. Jag Capital Management LLC increased its stake in shares of Toast by 3,853.3% during the third quarter. Jag Capital Management LLC now owns 207,510 shares of the company’s stock worth $7,576,000 after purchasing an additional 202,261 shares during the period. North Star Asset Management Inc. boosted its stake in Toast by 18.9% in the 3rd quarter. North Star Asset Management Inc. now owns 6,300 shares of the company’s stock valued at $230,000 after purchasing an additional 1,000 shares during the period. AXQ Capital LP acquired a new position in Toast in the 3rd quarter valued at $206,000. EverSource Wealth Advisors LLC increased its position in Toast by 33.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 3,283 shares of the company’s stock worth $120,000 after buying an additional 820 shares during the period. Finally, Verus Capital Partners LLC acquired a new stake in shares of Toast during the third quarter worth $218,000. Institutional investors own 82.91% of the company’s stock.

Insider Transactions at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 3,303 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $113,557.14. Following the completion of the transaction, the general counsel 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jonathan Vassil sold 66,390 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $35.86, for a total transaction of $2,380,745.40. Following the completion of the sale, the executive owned 84,589 shares in the company, valued at approximately $3,033,361.54. The trade was a 43.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 100,856 shares of company stock valued at $3,540,449. Company insiders own 12.14% of the company’s stock.

Analyst Ratings Changes

TOST has been the topic of several research reports. Citigroup decreased their price target on shares of Toast from $51.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. UBS Group set a $40.00 target price on shares of Toast in a research report on Friday, February 13th. Mizuho dropped their price target on shares of Toast from $57.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. JPMorgan Chase & Co. upgraded Toast from a “neutral” rating to an “overweight” rating and set a $43.00 price target for the company in a research note on Thursday, December 4th. Finally, BNP Paribas Exane raised Toast from a “hold” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Monday, December 1st. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.71.

Toast Price Performance

NYSE TOST opened at $25.55 on Wednesday. The business has a fifty day moving average price of $32.40 and a two-hundred day moving average price of $36.13. Toast, Inc. has a fifty-two week low of $24.35 and a fifty-two week high of $49.66. The stock has a market capitalization of $13.39 billion, a PE ratio of 47.31 and a beta of 1.93.

Toast (NYSE:TOST) last issued its quarterly 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 net margin of 5.56% and a return on equity of 18.14%. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the business posted $0.05 EPS. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. As a group, sell-side analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Toast declared that its Board of Directors has approved a share buyback plan 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 plans are often a sign that the company’s board believes its shares are undervalued.

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.