Fulcrum Asset Management LLP Trims Stock Holdings in Toast, Inc. $TOST

Fulcrum Asset Management LLP decreased its position in Toast, Inc. (NYSE:TOST) by 85.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,092 shares of the company’s stock after selling 18,660 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Toast were worth $113,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TOST. NewEdge Advisors LLC lifted its position in Toast by 1,555.5% during the 1st quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock valued at $578,000 after acquiring an additional 16,379 shares during the period. Allworth Financial LP grew its holdings in Toast by 75.7% in the second quarter. Allworth Financial LP now owns 1,402 shares of the company’s stock worth $62,000 after purchasing an additional 604 shares during the period. PNC Financial Services Group Inc. grew its holdings in Toast by 39.1% in the second quarter. PNC Financial Services Group Inc. now owns 16,665 shares of the company’s stock worth $738,000 after purchasing an additional 4,688 shares during the period. SG Americas Securities LLC increased its stake in shares of Toast by 69.6% during the second quarter. SG Americas Securities LLC now owns 44,826 shares of the company’s stock valued at $1,985,000 after purchasing an additional 18,401 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Toast by 40.5% during the second quarter. Cetera Investment Advisers now owns 91,295 shares of the company’s stock valued at $4,043,000 after purchasing an additional 26,300 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In other news, General Counsel Brian R. Elworthy sold 3,303 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $113,557.14. Following the transaction, the general counsel directly owned 235,757 shares of the company’s stock, valued at $8,105,325.66. This represents a 1.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Elena Gomez sold 1,437 shares of the firm’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 in the company, valued at approximately $4,994,843.86. This trade represents a 0.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 100,856 shares of company stock worth $3,540,449. 12.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TOST. Mizuho cut their price target on Toast from $57.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Needham & Company LLC lowered their price objective on Toast from $60.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Wells Fargo & Company dropped their target price on Toast from $47.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Oppenheimer cut their target price on Toast from $48.00 to $39.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. Finally, BNP Paribas Exane upgraded Toast from a “hold” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Monday, December 1st. Seventeen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.46.

Toast Stock Down 1.8%

Shares of TOST opened at $27.88 on Thursday. Toast, Inc. has a twelve month low of $24.35 and a twelve month high of $49.66. The company has a market capitalization of $14.61 billion, a P/E ratio of 51.63 and a beta of 1.95. The firm has a 50 day moving average of $29.99 and a 200 day moving average of $34.51.

Toast (NYSE:TOST) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.62 billion. Toast had a return on equity of 18.14% and a net margin of 5.56%.Toast’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 earnings per share. On average, sell-side analysts expect that Toast, Inc. will post 0.39 EPS for the current year.

Toast announced that its board has approved a stock buyback plan on Thursday, February 12th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are 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.