Capital Impact Advisors LLC Acquires 27,267 Shares of Toast, Inc. $TOST

Capital Impact Advisors LLC lifted its holdings in shares of Toast, Inc. (NYSE:TOST) by 12.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 237,962 shares of the company’s stock after buying an additional 27,267 shares during the period. Toast comprises 1.9% of Capital Impact Advisors LLC’s holdings, making the stock its 23rd largest position. Capital Impact Advisors LLC’s holdings in Toast were worth $8,688,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TOST. Quent Capital LLC bought a new stake in Toast during the third quarter worth about $27,000. RiverPark Advisors LLC acquired a new position in Toast during the second quarter valued at approximately $30,000. Alpine Bank Wealth Management bought a new position in Toast in the third quarter valued at approximately $30,000. Wolff Wiese Magana LLC bought a new position in Toast in the third quarter valued at approximately $37,000. Finally, Loomis Sayles & Co. L P acquired a new position in shares of Toast during the 2nd quarter worth approximately $42,000. Institutional investors own 82.91% of the company’s stock.

Insider Activity

In other Toast news, CEO Aman Narang sold 8,591 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total value of $295,358.58. Following the transaction, the chief executive officer directly owned 338,850 shares in the company, valued at $11,649,663. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Stephen Fredette sold 4,866 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $167,293.08. Following the sale, the president owned 910,606 shares of the company’s stock, valued at approximately $31,306,634.28. This represents a 0.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 100,856 shares of company stock valued at $3,540,449. 12.14% of the stock is owned by company insiders.

Toast Trading Down 0.2%

Shares of NYSE TOST opened at $27.54 on Friday. Toast, Inc. has a 12 month low of $24.35 and a 12 month high of $49.66. The stock has a 50 day moving average of $30.45 and a 200-day moving average of $34.85. The company 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 posted its earnings results on Thursday, February 12th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the firm posted $0.05 earnings per share. The firm’s revenue was up 22.0% compared to the same quarter last year. Analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Toast announced that its Board of Directors has initiated a share repurchase program on Thursday, February 12th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Stephens set a $42.00 price objective on Toast in a research note on Friday, January 16th. UBS Group set a $40.00 target price on shares of Toast in a research note on Friday, February 13th. Wells Fargo & Company lowered their target price on shares of Toast from $47.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Canaccord Genuity Group set a $37.00 price target on shares of Toast in a research report on Friday, February 13th. Finally, Needham & Company LLC cut 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. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.46.

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.