Meeder Asset Management Inc. Has $187,000 Stock Holdings in Toast, Inc. $TOST

Meeder Asset Management Inc. reduced its position in Toast, Inc. (NYSE:TOST) by 85.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,117 shares of the company’s stock after selling 30,577 shares during the period. Meeder Asset Management Inc.’s holdings in Toast were worth $187,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TOST. Jennison Associates LLC increased its position in Toast by 331.0% during the second quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock worth $380,978,000 after buying an additional 6,606,245 shares during the last quarter. Norges Bank bought a new position in shares of Toast during the 2nd quarter worth approximately $219,324,000. Marshall Wace LLP increased its holdings in shares of Toast by 108.3% during the 2nd quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock worth $349,333,000 after acquiring an additional 4,100,104 shares during the last quarter. 1832 Asset Management L.P. raised its stake in Toast by 65.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 4,314,200 shares of the company’s stock valued at $191,076,000 after acquiring an additional 1,701,900 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in Toast by 59.7% during the 2nd quarter. Federated Hermes Inc. now owns 4,024,942 shares of the company’s stock valued at $178,265,000 after purchasing an additional 1,504,507 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Insider Transactions at Toast

In related news, General Counsel Brian R. Elworthy sold 3,303 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $113,557.14. Following the sale, the general counsel owned 235,757 shares in the company, valued at approximately $8,105,325.66. This trade represents a 1.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Aman Narang sold 8,591 shares of Toast stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $295,358.58. Following the completion of the transaction, the chief executive officer directly owned 338,850 shares in the company, valued at $11,649,663. This trade represents a 2.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 102,595 shares of company stock worth $3,634,737. Corporate insiders own 12.14% of the company’s stock.

Toast Trading Up 2.2%

NYSE TOST opened at $36.23 on Tuesday. Toast, Inc. has a 1-year low of $28.12 and a 1-year high of $49.66. The company has a 50 day moving average of $35.50 and a 200-day moving average of $39.56. The company has a market cap of $18.66 billion, a price-to-earnings ratio of 84.26 and a beta of 1.93.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a return on equity of 15.77% and a net margin of 4.68%.The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the company earned $0.07 EPS. The company’s quarterly revenue was up 25.1% compared to the same quarter last year. On average, equities research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. UBS Group reiterated a “buy” rating on shares of Toast in a report on Thursday, December 18th. Truist Financial decreased their price target on shares of Toast from $47.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Jefferies Financial Group lowered their price target on shares of Toast from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. BNP Paribas Exane upgraded shares of Toast from a “neutral” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Monday, December 1st. Finally, The Goldman Sachs Group dropped their price target on Toast from $51.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.27.

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.