Champlain Investment Partners LLC Sells 477,777 Shares of Toast, Inc. $TOST

Champlain Investment Partners LLC lessened its stake in Toast, Inc. (NYSE:TOST) by 16.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,436,695 shares of the company’s stock after selling 477,777 shares during the period. Champlain Investment Partners LLC owned approximately 0.47% of Toast worth $88,964,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Quent Capital LLC bought a new stake in shares of Toast in the third quarter worth $27,000. RiverPark Advisors LLC purchased a new position in Toast in the second quarter worth about $30,000. Alpine Bank Wealth Management bought a new stake in shares of Toast during the 3rd quarter valued at about $30,000. Wolff Wiese Magana LLC purchased a new stake in shares of Toast during the 3rd quarter valued at about $37,000. Finally, Loomis Sayles & Co. L P bought a new position in shares of Toast in the 2nd quarter worth approximately $42,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TOST shares. Royal Bank Of Canada set a $45.00 target price on shares of Toast in a report on Wednesday, November 5th. Stephens set a $42.00 price objective on shares of Toast in a research report on Friday, January 16th. UBS Group set a $40.00 target price on Toast in a report on Friday, February 13th. Canaccord Genuity Group set a $37.00 target price on Toast in a research report on Friday, February 13th. Finally, Citigroup reduced their price target on Toast from $51.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Seventeen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.46.

Toast Stock Up 1.0%

Shares of Toast stock opened at $27.57 on Tuesday. The company has a market capitalization of $14.45 billion, a price-to-earnings ratio of 51.06 and a beta of 1.93. The stock’s 50-day simple moving average is $31.68 and its 200-day simple moving average is $35.68. Toast, Inc. has a 52 week low of $24.35 and a 52 week high of $49.66.

Toast (NYSE:TOST) last issued 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 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 last year, the business posted $0.05 EPS. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. On average, equities analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Toast declared that its board has authorized a stock repurchase plan on Thursday, February 12th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Toast

In other Toast news, CFO Elena Gomez sold 6,672 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 value of $229,383.36. Following the sale, the chief financial officer owned 162,153 shares in the company, valued at $5,574,820.14. The trade was a 3.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Jonathan Vassil sold 66,390 shares of the stock in a transaction dated 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 transaction, the executive directly owned 84,589 shares of the company’s stock, valued at $3,033,361.54. This trade represents a 43.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 100,856 shares of company stock valued at $3,540,449. 12.14% of the stock is owned by corporate 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.