79,182 Shares in Toast, Inc. $TOST Purchased by Quantbot Technologies LP

Quantbot Technologies LP acquired a new position in Toast, Inc. (NYSE:TOST) in the 3rd quarter, HoldingsChannel reports. The fund acquired 79,182 shares of the company’s stock, valued at approximately $2,891,000.

A number of other hedge funds have also recently modified their holdings of TOST. Aster Capital Management DIFC Ltd raised its holdings in shares of Toast by 4,203.5% in the third quarter. Aster Capital Management DIFC Ltd now owns 6,068 shares of the company’s stock worth $222,000 after buying an additional 5,927 shares during the period. Handelsbanken Fonder AB grew its position in Toast by 0.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 121,400 shares of the company’s stock valued at $4,432,000 after acquiring an additional 500 shares during the last quarter. Andra AP fonden increased its stake in Toast by 69.4% in the third quarter. Andra AP fonden now owns 583,900 shares of the company’s stock worth $21,318,000 after purchasing an additional 239,300 shares during the period. Xponance Inc. lifted its position in shares of Toast by 4.4% during the third quarter. Xponance Inc. now owns 96,828 shares of the company’s stock worth $3,535,000 after purchasing an additional 4,044 shares during the last quarter. Finally, DNB Asset Management AS lifted its position in shares of Toast by 4.3% during the third quarter. DNB Asset Management AS now owns 83,718 shares of the company’s stock worth $3,057,000 after purchasing an additional 3,468 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Toast in a report on Monday, December 29th. Oppenheimer lowered their price objective on shares of Toast from $48.00 to $39.00 and set an “outperform” rating for the company in a research report on Friday, February 13th. Sanford C. Bernstein set a $39.00 target price on shares of Toast in a research note on Monday, February 16th. DA Davidson reduced their target price on shares of Toast from $36.00 to $33.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. raised shares of Toast from a “neutral” rating to an “overweight” rating and set a $43.00 price target for the company in a research note on Thursday, December 4th. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Toast presently has an average rating of “Moderate Buy” and an average price target of $40.46.

Insider Activity at Toast

In other news, CRO Jonathan Vassil sold 1,454 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total value of $44,114.36. Following the completion of the transaction, the executive directly owned 139,893 shares of the company’s stock, valued at approximately $4,244,353.62. The trade was a 1.03% 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 1,648 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total value of $50,000.32. Following the sale, the chief executive officer directly owned 340,723 shares in the company, valued at approximately $10,337,535.82. The trade was a 0.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 100,856 shares of company stock valued at $3,540,449 over the last 90 days. Insiders own 12.14% of the company’s stock.

Toast Price Performance

Shares of Toast stock opened at $27.57 on Tuesday. The stock has a market cap of $14.45 billion, a price-to-earnings ratio of 51.06 and a beta of 1.93. The firm’s 50-day moving average is $31.68 and its two-hundred day moving average is $35.68. Toast, Inc. has a 1 year low of $24.35 and a 1 year high of $49.66.

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

Toast announced that its board has approved a stock buyback plan on Thursday, February 12th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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.