Fulcrum Asset Management LLP Sells 107,422 Shares of Toast, Inc. $TOST

Fulcrum Asset Management LLP lessened its position in Toast, Inc. (NYSE:TOST) by 85.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 17,800 shares of the company’s stock after selling 107,422 shares during the period. Fulcrum Asset Management LLP’s holdings in Toast were worth $650,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Quent Capital LLC acquired a new stake in Toast in the 3rd quarter valued at $27,000. RiverPark Advisors LLC acquired a new position in Toast during the second quarter worth $30,000. Alpine Bank Wealth Management bought a new position in shares of Toast in the third quarter valued at $30,000. Wolff Wiese Magana LLC acquired a new position in shares of Toast during the third quarter valued at about $37,000. Finally, Loomis Sayles & Co. L P acquired a new position in shares of Toast during the second quarter valued at about $42,000. Institutional investors own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TOST shares. Needham & Company LLC lowered their target price on shares of Toast from $60.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, February 13th. The Goldman Sachs Group dropped their price target on shares of Toast from $43.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Citigroup decreased their price objective on Toast from $51.00 to $42.00 and set a “buy” rating for the company in a report on Friday, February 13th. Wells Fargo & Company lowered their price objective on Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Finally, UBS Group set a $40.00 target price on Toast in a report on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and an average target price of $40.46.

Toast Stock Performance

NYSE:TOST opened at $28.39 on Wednesday. Toast, Inc. has a 52 week low of $24.35 and a 52 week high of $49.66. The firm has a 50-day moving average price of $30.16 and a two-hundred day moving average price of $34.55. The firm has a market cap of $14.88 billion, a price-to-earnings ratio of 52.58 and a beta of 1.95.

Toast (NYSE:TOST) last announced its earnings results on Thursday, February 12th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Toast had a return on equity of 18.14% and a net margin of 5.56%.Toast’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.05 EPS. As a group, sell-side analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

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

Insiders Place Their Bets

In other news, CFO Elena Gomez sold 6,672 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction 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 $5,574,820.14. This trade represents a 3.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Stephen Fredette sold 4,866 shares of Toast stock in a transaction on Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $167,293.08. Following the sale, the president owned 910,606 shares in the company, valued at $31,306,634.28. The trade was a 0.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 100,856 shares of company stock valued at $3,540,449. 12.14% of the stock is currently owned by insiders.

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.