Jain Global LLC Makes New $9.92 Million Investment in Toast, Inc. $TOST

Jain Global LLC bought a new position in Toast, Inc. (NYSE:TOST) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 271,714 shares of the company’s stock, valued at approximately $9,920,000. Jain Global LLC owned approximately 0.05% of Toast as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC boosted its position in shares of Toast by 1,555.5% during the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock valued at $578,000 after purchasing an additional 16,379 shares in the last quarter. Savant Capital LLC raised its holdings in Toast by 3.7% in the second quarter. Savant Capital LLC now owns 10,147 shares of the company’s stock worth $449,000 after purchasing an additional 359 shares in the last quarter. Allworth Financial LP lifted its position in Toast by 75.7% during the second quarter. Allworth Financial LP now owns 1,402 shares of the company’s stock valued at $62,000 after buying an additional 604 shares during the period. PNC Financial Services Group Inc. lifted its position in Toast by 39.1% during the second quarter. PNC Financial Services Group Inc. now owns 16,665 shares of the company’s stock valued at $738,000 after buying an additional 4,688 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Toast by 69.6% during the 2nd quarter. SG Americas Securities LLC now owns 44,826 shares of the company’s stock valued at $1,985,000 after buying an additional 18,401 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In other Toast news, CEO Aman Narang sold 1,648 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total transaction of $50,000.32. Following the sale, the chief executive officer directly owned 340,723 shares in the company, valued at approximately $10,337,535.82. This trade represents a 0.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Elena Gomez sold 1,437 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 value of $43,598.58. Following the completion of the transaction, the chief financial officer owned 164,629 shares of the company’s stock, valued at $4,994,843.86. This represents a 0.87% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 100,856 shares of company stock worth $3,540,449. Insiders own 12.14% of the company’s stock.

Toast Price Performance

Shares of Toast stock opened at $28.10 on Tuesday. Toast, Inc. has a 1 year low of $24.35 and a 1 year high of $49.66. The firm’s 50-day moving average is $30.32 and its 200 day moving average is $34.67. The stock has a market cap of $14.72 billion, a price-to-earnings ratio of 52.04 and a beta of 1.95.

Toast (NYSE:TOST) last issued its earnings results on Thursday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Toast had a return on equity of 18.14% and a net margin of 5.56%.The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the firm posted $0.05 earnings per share. On average, equities analysts expect that Toast, Inc. will post 0.39 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

TOST has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised shares of 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. Sanford C. Bernstein set a $39.00 price objective on shares of Toast in a research note on Monday, February 16th. Mizuho cut their price objective on shares of Toast from $57.00 to $45.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. Jefferies Financial Group set a $35.00 target price on shares of Toast in a research note on Friday, February 13th. Finally, The Goldman Sachs Group lowered their target price on shares of Toast from $43.00 to $31.00 and set a “neutral” rating for the company in a 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.