Annis Gardner Whiting Capital Advisors LLC Takes $594,000 Position in Toast, Inc. $TOST

Annis Gardner Whiting Capital Advisors LLC acquired a new position in Toast, Inc. (NYSE:TOST) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,260 shares of the company’s stock, valued at approximately $594,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Toast by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 44,411,722 shares of the company’s stock worth $1,966,995,000 after purchasing an additional 466,138 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Toast by 74.4% in the 3rd quarter. Jennison Associates LLC now owns 15,000,561 shares of the company’s stock valued at $547,670,000 after purchasing an additional 6,398,674 shares during the last quarter. State Street Corp boosted its holdings in Toast by 2.7% in the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after purchasing an additional 245,276 shares in the last quarter. Geode Capital Management LLC increased its position in Toast by 2.8% during the second quarter. Geode Capital Management LLC now owns 7,902,519 shares of the company’s stock worth $348,906,000 after buying an additional 218,537 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Toast by 108.3% during the second quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock worth $349,333,000 after buying an additional 4,100,104 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In related news, CRO Jonathan Vassil sold 4,787 shares of Toast stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $164,577.06. Following the sale, the executive directly owned 79,802 shares of the company’s stock, valued at $2,743,592.76. This trade represents a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Stephen Fredette sold 4,866 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $34.38, for a total value of $167,293.08. Following the completion of the transaction, the president directly owned 910,606 shares of the company’s stock, valued at approximately $31,306,634.28. This trade represents a 0.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 102,595 shares of company stock valued at $3,634,737 over the last quarter. Company insiders own 12.14% of the company’s stock.

Toast Trading Down 2.5%

Shares of Toast stock opened at $31.05 on Friday. The company’s fifty day simple moving average is $34.81 and its 200-day simple moving average is $38.68. The company has a market cap of $15.99 billion, a price-to-earnings ratio of 72.20 and a beta of 1.93. Toast, Inc. has a 1 year low of $28.12 and a 1 year high of $49.66.

Toast (NYSE:TOST) last released its earnings results on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. Toast had a net margin of 4.68% and a return on equity of 15.77%. Toast’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 earnings per share. As a group, research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TOST shares. Wolfe Research cut Toast from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 8th. Evercore ISI raised Toast from an “in-line” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research note on Tuesday, January 20th. Jefferies Financial Group reduced their target price on Toast from $54.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Stephens set a $42.00 price target on Toast in a report on Friday, January 16th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Toast in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.82.

About Toast

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.