Toast, Inc. $TOST Shares Purchased by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC grew its position in Toast, Inc. (NYSE:TOST) by 223.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 29,407 shares of the company’s stock after buying an additional 20,312 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Toast were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TOST. Quent Capital LLC acquired a new position in shares of Toast during the third quarter worth approximately $27,000. Alpine Bank Wealth Management acquired a new stake in Toast in the 3rd quarter valued at approximately $30,000. Central Pacific Bank Trust Division increased its position in Toast by 123.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after acquiring an additional 521 shares during the period. Wolff Wiese Magana LLC bought a new stake in Toast during the 3rd quarter valued at $37,000. Finally, Loomis Sayles & Co. L P acquired a new position in Toast during the 2nd quarter worth $42,000. Institutional investors own 82.91% of the company’s stock.

Insider Activity at Toast

In other news, President Stephen Fredette sold 1,060 shares of the company’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 sale, the president directly owned 913,067 shares of the company’s stock, valued at $27,702,452.78. This represents a 0.12% 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, CRO Jonathan Vassil sold 1,454 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total value of $44,114.36. Following the sale, the executive directly owned 139,893 shares of the company’s stock, valued at approximately $4,244,353.62. This represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 100,856 shares of company stock worth $3,540,449. 12.14% of the stock is owned by corporate insiders.

Toast Price Performance

Shares of TOST opened at $26.49 on Wednesday. The firm’s 50 day moving average is $28.55 and its 200-day moving average is $33.51. Toast, Inc. has a 12-month low of $24.35 and a 12-month high of $49.66. The stock has a market capitalization of $13.88 billion, a P/E ratio of 49.05 and a beta of 1.95.

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

Toast declared that its board has authorized a stock repurchase program on Thursday, February 12th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TOST. Sanford C. Bernstein set a $39.00 price target on Toast in a report on Monday, February 16th. Citigroup lowered their target price on shares of Toast from $51.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Needham & Company LLC reduced their price target on shares of Toast from $60.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Oppenheimer lowered their price objective 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, Mizuho dropped their target price on Toast from $57.00 to $45.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. Seventeen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.88.

About Toast

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.