Jupiter Asset Management Ltd. Sells 717,210 Shares of Toast, Inc. $TOST

Jupiter Asset Management Ltd. lessened its position in shares of Toast, Inc. (NYSE:TOST) by 67.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 338,917 shares of the company’s stock after selling 717,210 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Toast were worth $12,374,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Toast by 17.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,044,838 shares of the company’s stock valued at $147,677,000 after buying an additional 587,294 shares during the period. Alberta Investment Management Corp lifted its holdings in shares of Toast by 8.7% during the 3rd quarter. Alberta Investment Management Corp now owns 108,900 shares of the company’s stock worth $3,976,000 after acquiring an additional 8,700 shares during the period. Syon Capital LLC acquired a new stake in shares of Toast during the 3rd quarter valued at about $884,000. Northeast Investment Management increased its stake in Toast by 2.8% in the third quarter. Northeast Investment Management now owns 81,889 shares of the company’s stock valued at $2,990,000 after acquiring an additional 2,199 shares during the period. Finally, Wealthcare Advisory Partners LLC acquired a new position in Toast in the third quarter worth about $332,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Stock Performance

Shares of NYSE:TOST opened at $26.99 on Friday. The business has a fifty day moving average of $32.78 and a 200-day moving average of $36.55. Toast, Inc. has a twelve month low of $25.91 and a twelve month high of $49.66. The firm has a market cap of $14.14 billion, a PE ratio of 49.98 and a beta of 1.93.

Toast (NYSE:TOST) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. Toast had a return on equity of 18.14% and a net margin of 5.56%.The firm’s revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 EPS. On average, analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Toast announced that its Board of Directors has approved a share buyback program on Thursday, February 12th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group set a $40.00 price objective on Toast in a research note on Friday, February 13th. Mizuho decreased their price target on Toast from $57.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. upgraded Toast from a “neutral” rating to an “overweight” rating and set a $43.00 price objective for the company in a research note on Thursday, December 4th. DA Davidson cut their price objective on Toast from $36.00 to $33.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Royal Bank Of Canada set a $45.00 target price on shares of Toast in a report on Wednesday, November 5th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have given 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 $40.71.

Insider Buying and Selling at Toast

In related news, General Counsel Brian R. Elworthy sold 3,303 shares of the firm’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 $113,557.14. Following the completion of the sale, the general counsel owned 235,757 shares of the company’s stock, valued at $8,105,325.66. This trade represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Stephen Fredette sold 1,060 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total transaction of $32,160.40. Following the completion of the transaction, the president owned 913,067 shares of the company’s stock, valued at $27,702,452.78. This trade represents a 0.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 100,856 shares of company stock valued at $3,540,449 over the last three months. Insiders own 12.14% of the company’s stock.

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.