Greenwood Gearhart Inc. Sells 25,560 Shares of Toast, Inc. $TOST

Greenwood Gearhart Inc. trimmed its stake in shares of Toast, Inc. (NYSE:TOST) by 37.4% in the third quarter, HoldingsChannel.com reports. The fund owned 42,740 shares of the company’s stock after selling 25,560 shares during the quarter. Greenwood Gearhart Inc.’s holdings in Toast were worth $1,560,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Allianz Asset Management GmbH boosted its stake in shares of Toast by 322.0% during the third quarter. Allianz Asset Management GmbH now owns 362,765 shares of the company’s stock valued at $13,245,000 after purchasing an additional 276,803 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new position in shares of Toast in the second quarter valued at approximately $1,329,000. Candriam S.C.A. raised its holdings in Toast by 10.9% in the 3rd quarter. Candriam S.C.A. now owns 602,200 shares of the company’s stock valued at $21,986,000 after buying an additional 59,045 shares during the last quarter. Nordea Investment Management AB boosted its position in Toast by 49.5% during the 3rd quarter. Nordea Investment Management AB now owns 138,619 shares of the company’s stock worth $4,988,000 after buying an additional 45,898 shares during the period. Finally, Jennison Associates LLC grew its holdings in Toast by 74.4% during the 3rd quarter. Jennison Associates LLC now owns 15,000,561 shares of the company’s stock worth $547,670,000 after acquiring an additional 6,398,674 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TOST shares. DA Davidson dropped their price target on shares of Toast from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Tuesday, February 17th. The Goldman Sachs Group decreased their price objective on Toast from $43.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Mizuho cut their target price on Toast from $57.00 to $45.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. Oppenheimer reduced their price target on Toast from $48.00 to $39.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Finally, JPMorgan Chase & Co. raised Toast from a “neutral” rating to an “overweight” rating and set a $43.00 price target for the company in a research note on Thursday, December 4th. Seventeen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.46.

Toast Trading Up 4.9%

Shares of Toast stock opened at $26.83 on Thursday. The business has a 50-day moving average price of $32.23 and a two-hundred day moving average price of $36.07. Toast, Inc. has a 1-year low of $24.35 and a 1-year high of $49.66. The company has a market cap of $14.06 billion, a P/E ratio of 49.68 and a beta of 1.93.

Toast (NYSE:TOST) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a net margin of 5.56% and a return on equity of 18.14%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the firm earned $0.05 earnings per share. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. Equities research analysts forecast that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Toast declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 12th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Toast

In other news, General Counsel Brian R. Elworthy sold 3,303 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 value of $113,557.14. Following the completion of the sale, the general counsel owned 235,757 shares in the company, valued at $8,105,325.66. The trade was a 1.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Jonathan Vassil sold 66,390 shares of the business’s 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 sold 100,856 shares of company stock valued at $3,540,449. 12.14% of the stock is owned by insiders.

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.