Capital International Investors Acquires 3,351,545 Shares of Toast, Inc. $TOST

Capital International Investors increased its holdings in Toast, Inc. (NYSE:TOST) by 7.4% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 48,428,060 shares of the company’s stock after buying an additional 3,351,545 shares during the quarter. Capital International Investors owned about 9.40% of Toast worth $1,768,256,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TOST. Vanguard Group Inc. raised its stake in Toast by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 44,764,157 shares of the company’s stock valued at $1,634,339,000 after buying an additional 352,435 shares during the last quarter. Jennison Associates LLC boosted its position in Toast by 74.4% in the third quarter. Jennison Associates LLC now owns 15,000,561 shares of the company’s stock worth $547,670,000 after purchasing an additional 6,398,674 shares during the last quarter. State Street Corp boosted its position in Toast by 2.7% in the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after purchasing an additional 245,276 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Toast by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 7,902,519 shares of the company’s stock valued at $348,906,000 after purchasing an additional 218,537 shares during the period. Finally, Marshall Wace LLP increased its position 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 valued at $349,333,000 after purchasing an additional 4,100,104 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Mizuho lowered their price objective on shares of Toast from $57.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. The Goldman Sachs Group cut their target price on shares of Toast from $43.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, February 17th. Evercore upgraded shares of Toast from an “in-line” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Tuesday, January 20th. Oppenheimer dropped their price target on shares of Toast from $48.00 to $39.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. Finally, DA Davidson cut their price objective on shares of Toast from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, February 17th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Toast currently has an average rating of “Moderate Buy” and an average target price of $40.46.

Insiders Place Their Bets

In related news, CFO Elena Gomez sold 6,672 shares of the business’s stock in a transaction that occurred on 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 directly owned 162,153 shares of the company’s stock, valued at approximately $5,574,820.14. The trade was a 3.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Fredette sold 4,866 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the president owned 910,606 shares of the company’s stock, valued at $31,306,634.28. The trade was a 0.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 100,856 shares of company stock valued at $3,540,449. Insiders own 12.14% of the company’s stock.

Toast Trading Down 2.7%

Toast stock opened at $29.47 on Tuesday. Toast, Inc. has a 12-month low of $24.35 and a 12-month high of $49.66. The firm has a market capitalization of $15.44 billion, a price-to-earnings ratio of 54.57 and a beta of 1.95. The firm has a 50 day moving average of $31.01 and a 200 day moving average of $35.23.

Toast (NYSE:TOST) last issued 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). The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Toast had a net margin of 5.56% and a return on equity of 18.14%. Toast’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 EPS. On average, analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

Toast announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 12th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.