Toast, Inc. $TOST Stake Lessened by Congress Asset Management Co.

Congress Asset Management Co. lowered its stake in Toast, Inc. (NYSE:TOST) by 36.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 776,735 shares of the company’s stock after selling 439,377 shares during the period. Congress Asset Management Co.’s holdings in Toast were worth $27,582,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC raised its holdings in shares of Toast by 285.3% during the fourth quarter. SG Americas Securities LLC now owns 288,286 shares of the company’s stock worth $10,237,000 after purchasing an additional 213,459 shares during the period. Diversified Trust Co. lifted its position in shares of Toast by 58.9% in the 4th quarter. Diversified Trust Co. now owns 29,365 shares of the company’s stock worth $1,043,000 after buying an additional 10,881 shares during the last quarter. TABR Capital Management LLC bought a new position in shares of Toast in the 4th quarter worth about $987,000. Elevation Wealth Partners LLC acquired a new position in shares of Toast in the 4th quarter valued at about $53,000. Finally, Chesapeake Asset Management LLC acquired a new position in shares of Toast in the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Performance

NYSE TOST opened at $26.63 on Wednesday. Toast, Inc. has a 1 year low of $24.35 and a 1 year high of $49.66. The business’s fifty day moving average is $29.31 and its two-hundred day moving average is $34.01. The stock has a market capitalization of $13.95 billion, a P/E ratio of 49.31 and a beta of 1.95.

Toast (NYSE:TOST) last announced its earnings results on Thursday, February 12th. The company reported $0.16 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 during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the previous year, the business earned $0.05 earnings per share. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. On average, research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on TOST. Mizuho dropped their price objective on shares of Toast from $57.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Citigroup decreased their target price on Toast from $51.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Oppenheimer lowered their target price on Toast from $48.00 to $39.00 and set an “outperform” rating for the company in a report on Friday, February 13th. The Goldman Sachs Group dropped their price target on Toast from $43.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Finally, Truist Financial set a $36.00 price target on Toast in a report on Wednesday, February 25th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.46.

Insider Buying and Selling 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 value of $113,557.14. Following the transaction, the general counsel owned 235,757 shares in the company, valued at $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 SEC, which is available through the SEC website. Also, CFO Elena Gomez sold 6,672 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $34.38, for a total value of $229,383.36. Following the completion of the sale, the chief financial officer directly owned 162,153 shares of the company’s stock, valued at approximately $5,574,820.14. The trade was a 3.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 100,856 shares of company stock worth $3,540,449 over the last 90 days. 12.14% of the stock is currently owned by insiders.

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.