Toast, Inc. $TOST Shares Acquired by Congress Asset Management Co.

Congress Asset Management Co. raised its holdings in Toast, Inc. (NYSE:TOST) by 46.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,755,072 shares of the company’s stock after purchasing an additional 555,568 shares during the period. Congress Asset Management Co.’s holdings in Toast were worth $50,880,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Moody National Bank Trust Division raised its position in shares of Toast by 17.0% in the third quarter. Moody National Bank Trust Division now owns 50,298 shares of the company’s stock valued at $1,458,000 after buying an additional 7,298 shares in the last quarter. Hickory Point Bank & Trust grew its position in Toast by 10.0% during the third quarter. Hickory Point Bank & Trust now owns 5,500 shares of the company’s stock worth $159,000 after buying an additional 500 shares in the last quarter. Talon Private Wealth LLC acquired a new stake in Toast during the second quarter worth approximately $837,000. Junto Capital Management LP acquired a new stake in Toast during the second quarter worth approximately $54,320,000. Finally, Tidal Investments LLC increased its stake in Toast by 31.9% during the 2nd quarter. Tidal Investments LLC now owns 18,071 shares of the company’s stock worth $503,000 after acquiring an additional 4,372 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

TOST has been the subject of several analyst reports. DA Davidson lifted their price objective on Toast from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Keefe, Bruyette & Woods raised their price target on shares of Toast from $30.00 to $35.00 and gave the company a “market perform” rating in a research note on Wednesday, August 5th. Barclays upped their price target on shares of Toast from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Evercore reiterated an “outperform” rating on shares of Toast in a research note on Wednesday, August 5th. Finally, Wall Street Zen cut Toast from a “buy” rating to a “hold” rating in a report on Sunday. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.12.

Toast Stock Performance

Shares of NYSE:TOST traded up $0.21 during mid-day trading on Tuesday, reaching $30.25. 5,656,929 shares of the company’s stock were exchanged, compared to its average volume of 11,141,606. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $39.72. The firm has a market capitalization of $15.55 billion, a price-to-earnings ratio of 38.78 and a beta of 1.74. The business’s fifty day moving average price is $33.04 and its 200-day moving average price is $28.98.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.87 billion. Toast had a net margin of 7.14% and a return on equity of 23.90%. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 earnings per share. Analysts predict that Toast, Inc. will post 1 EPS for the current fiscal year.

Insider Transactions at Toast

In other news, CRO Jonathan Vassil sold 85,280 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $36.34, for a total value of $3,099,075.20. Following the transaction, the executive owned 69,966 shares in the company, valued at approximately $2,542,564.44. The trade was a 54.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 124,542 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $35.29, for a total transaction of $4,395,087.18. Following the completion of the transaction, the chief executive officer owned 175,458 shares in the company, valued at $6,191,912.82. This trade represents a 41.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 534,830 shares of company stock worth $18,566,600 over the last ninety days. 10.03% of the stock is owned by insiders.

Toast News Roundup

Here are the key news stories impacting Toast this week:

• Positive Sentiment: Toast introduced a new Toast IQ team and expanded Toast IQ Grow capabilities. The tools are designed to help restaurant operators improve profitability, attract guests and manage labor, supporting Toast’s growth strategy and potentially increasing adoption of its software platform. New Toast IQ Team and Expanded Toast IQ Grow
• Neutral Sentiment: Toast executives disclosed multiple share sales, including transactions by CEO Aman Narang, CFO Elena Gomez, CRO Jonathan Vassil, President Stephen Fredette and General Counsel Brian Elworthy. The reported sales totaled roughly $1.9 million when including the latest CRO transaction, but the filings indicate the trades were made under pre-arranged Rule 10b5-1 plans or to cover tax withholding on vested equity. That reduces their value as a bearish signal, although the cluster of sales may create some negative sentiment. Toast Insider Trading Alert Jonathan Vassil Form 4
• Negative Sentiment: The insider activity follows Toast’s latest quarterly earnings, in which earnings per share missed analyst expectations even though revenue exceeded estimates and rose 23.1% year over year. The earnings miss and Toast’s elevated valuation remain risks for investors if growth or profitability fail to accelerate.

Toast Company Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other foodservice businesses. Its platform combines point-of-sale hardware and software with tools for payment processing, menu and order management, employee operations, inventory, reporting and customer engagement.

The company’s products and services support in-restaurant, online and delivery orders, as well as gift cards, loyalty programs, marketing and payroll-related functions. Toast also offers restaurant-specific hardware, including terminals, handheld devices, kitchen display systems and self-service kiosks, allowing businesses to manage operations through an integrated technology ecosystem.

Founded in 2011 and headquartered in Boston, Toast initially focused on helping restaurants replace traditional point-of-sale systems with cloud-based technology.