Ossiam Raises Stake in Toast, Inc. $TOST

Ossiam lifted its position in shares of Toast, Inc. (NYSE:TOST) by 16,599.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 365,219 shares of the company’s stock after buying an additional 363,032 shares during the period. Ossiam owned 0.07% of Toast worth $13,334,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TOST. Dnca Finance grew its stake in Toast by 25.8% in the 3rd quarter. Dnca Finance now owns 195,650 shares of the company’s stock worth $7,143,000 after acquiring an additional 40,150 shares during the period. Thematics Asset Management lifted its stake in shares of Toast by 13.1% during the 3rd quarter. Thematics Asset Management now owns 95,612 shares of the company’s stock worth $3,491,000 after purchasing an additional 11,059 shares during the period. Jump Financial LLC acquired a new stake in shares of Toast during the third quarter worth $17,209,000. Pathstone Holdings LLC boosted its holdings in shares of Toast by 13.4% during the third quarter. Pathstone Holdings LLC now owns 73,265 shares of the company’s stock worth $2,675,000 after purchasing an additional 8,638 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Toast in the third quarter valued at $434,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TOST shares. Canaccord Genuity Group set a $37.00 target price on Toast in a research note on Friday, February 13th. Wolfe Research cut Toast from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Morgan Stanley set a $51.00 price objective on shares of Toast in a research note on Friday, February 13th. Sanford C. Bernstein set a $39.00 price objective on shares of Toast in a report on Monday, February 16th. Finally, The Goldman Sachs Group decreased their target price on shares of Toast from $43.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.46.

Insider Transactions at Toast

In other news, CFO Elena Gomez sold 1,437 shares of Toast stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total transaction of $43,598.58. Following the sale, the chief financial officer owned 164,629 shares in the company, valued at $4,994,843.86. This trade represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 1,060 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 transaction of $32,160.40. Following the completion of the transaction, the president owned 913,067 shares in the company, valued at $27,702,452.78. This represents a 0.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 100,856 shares of company stock worth $3,540,449 in the last quarter. 12.14% of the stock is owned by corporate insiders.

Toast Trading Down 0.2%

Shares of Toast stock opened at $27.54 on Friday. The business’s fifty day moving average price is $30.45 and its 200 day moving average price is $34.92. Toast, Inc. has a twelve month low of $24.35 and a twelve month high of $49.66. The stock has a market capitalization of $14.43 billion, a P/E ratio of 51.00 and a beta of 1.95.

Toast (NYSE:TOST) last announced 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). The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. Toast had a return on equity of 18.14% and a net margin of 5.56%.The business’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.05 earnings per share. As a group, sell-side analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

Toast declared that its board has approved a stock buyback program on Thursday, February 12th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically 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.