Toast, Inc. $TOST Holdings Lowered by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC decreased its stake in Toast, Inc. (NYSE:TOST) by 12.4% in the fourth quarter, HoldingsChannel reports. The firm owned 1,854,996 shares of the company’s stock after selling 262,314 shares during the period. Toast accounts for 1.5% of Zevenbergen Capital Investments LLC’s holdings, making the stock its 23rd biggest position. Zevenbergen Capital Investments LLC’s holdings in Toast were worth $65,871,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allianz Asset Management GmbH boosted its holdings in shares of Toast by 322.0% in the third quarter. Allianz Asset Management GmbH now owns 362,765 shares of the company’s stock worth $13,245,000 after buying an additional 276,803 shares during the period. Candriam S.C.A. raised its holdings in shares of Toast by 10.9% during the third quarter. Candriam S.C.A. now owns 602,200 shares of the company’s stock valued at $21,986,000 after acquiring an additional 59,045 shares during the period. Nordea Investment Management AB raised its holdings in shares of Toast by 49.5% during the third quarter. Nordea Investment Management AB now owns 138,619 shares of the company’s stock valued at $4,988,000 after acquiring an additional 45,898 shares during the period. Citigroup Inc. lifted its position in shares of Toast by 17.2% in the 3rd quarter. Citigroup Inc. now owns 1,042,102 shares of the company’s stock valued at $38,047,000 after acquiring an additional 152,807 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Toast in the 3rd quarter valued at approximately $2,891,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Up 1.7%

TOST stock opened at $26.07 on Tuesday. The company has a 50 day moving average of $28.67 and a two-hundred day moving average of $33.61. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 48.27 and a beta of 1.95. Toast, Inc. has a 12-month low of $24.35 and a 12-month high of $49.66.

Toast (NYSE:TOST) last posted its quarterly 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 net margin of 5.56% and a return on equity of 18.14%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the prior year, the firm earned $0.05 earnings per share. The company’s revenue was up 22.0% on a year-over-year basis. On average, research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

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

Wall Street Analyst Weigh In

TOST has been the topic of several research analyst reports. Jefferies Financial Group set a $35.00 price objective on shares of Toast in a research report on Friday, February 13th. Truist Financial set a $36.00 target price on Toast in a research report on Wednesday, February 25th. DA Davidson lowered their price target on Toast from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Tuesday, February 17th. Citigroup dropped their price target on Toast from $51.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Finally, Sanford C. Bernstein set a $39.00 price objective on Toast in a research note on Monday, February 16th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Toast currently has an average rating of “Moderate Buy” and a consensus price target of $40.46.

Insider Transactions at Toast

In other Toast news, CFO Elena Gomez sold 6,672 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 $229,383.36. Following the transaction, 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 ownership of the stock. 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 the firm’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 $167,293.08. Following the sale, the president directly owned 910,606 shares of the company’s stock, valued at $31,306,634.28. This trade represents a 0.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 100,856 shares of company stock valued at $3,540,449. Corporate insiders own 12.14% of the company’s stock.

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.