Thrivent Financial for Lutherans Invests $5.10 Million in Toast, Inc. $TOST

Thrivent Financial for Lutherans acquired a new stake in Toast, Inc. (NYSE:TOST) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 139,748 shares of the company’s stock, valued at approximately $5,102,000.

A number of other large investors have also made changes to their positions in TOST. K.J. Harrison & Partners Inc purchased a new position in shares of Toast during the second quarter valued at approximately $1,329,000. Nordea Investment Management AB raised its holdings in Toast by 49.5% in the 3rd quarter. Nordea Investment Management AB now owns 138,619 shares of the company’s stock valued at $4,988,000 after acquiring an additional 45,898 shares during the last quarter. Reliant Investment Partners LLC purchased a new position in shares of Toast during the 2nd quarter worth $472,000. Northeast Investment Management boosted its holdings in shares of Toast by 52.3% during the second quarter. Northeast Investment Management now owns 79,690 shares of the company’s stock worth $3,529,000 after purchasing an additional 27,365 shares during the last quarter. Finally, Jennison Associates LLC grew its position in shares of Toast by 74.4% in the third quarter. Jennison Associates LLC now owns 15,000,561 shares of the company’s stock valued at $547,670,000 after purchasing an additional 6,398,674 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TOST. JPMorgan Chase & Co. upgraded Toast from a “neutral” rating to an “overweight” rating and set a $43.00 target price on the stock in a research report on Thursday, December 4th. Wells Fargo & Company raised shares of Toast to a “strong-buy” rating in a research note on Wednesday, October 22nd. Citigroup upgraded shares of Toast to a “strong-buy” rating in a report on Thursday, October 23rd. Wolfe Research downgraded shares of Toast from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Finally, UBS Group reaffirmed a “buy” rating on shares of Toast in a research report on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.55.

Toast Stock Performance

Shares of NYSE:TOST opened at $27.71 on Friday. The stock has a 50-day simple moving average of $34.24 and a 200-day simple moving average of $37.98. The stock has a market capitalization of $14.27 billion, a P/E ratio of 64.44 and a beta of 1.93. Toast, Inc. has a 1 year low of $26.92 and a 1 year high of $49.66.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a net margin of 4.68% and a return on equity of 15.77%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the firm earned $0.07 earnings per share. The company’s quarterly revenue was up 25.1% on a year-over-year basis. Analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Elena Gomez sold 6,672 shares of Toast stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $229,383.36. Following the transaction, the chief financial officer owned 162,153 shares in the company, valued at approximately $5,574,820.14. The trade was a 3.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Jonathan Vassil sold 66,390 shares of Toast stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $35.86, for a total transaction of $2,380,745.40. Following the transaction, the executive owned 84,589 shares in the company, valued at $3,033,361.54. The trade was a 43.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 100,856 shares of company stock worth $3,540,449. 12.14% of the stock is owned by company insiders.

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.