12 West Capital Management LP Grows Holdings in Toast, Inc. $TOST

12 West Capital Management LP boosted its position in shares of Toast, Inc. (NYSE:TOST) by 1.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,782,840 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. Toast accounts for about 6.8% of 12 West Capital Management LP’s investment portfolio, making the stock its 5th biggest holding. 12 West Capital Management LP owned about 0.35% of Toast worth $65,091,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Quent Capital LLC acquired a new position in Toast in the 3rd quarter worth $27,000. RiverPark Advisors LLC acquired a new stake in shares of Toast in the 2nd quarter valued at about $30,000. Alpine Bank Wealth Management acquired a new stake in shares of Toast in the 3rd quarter valued at about $30,000. Wolff Wiese Magana LLC bought a new stake in shares of Toast in the third quarter valued at about $37,000. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Toast in the second quarter valued at about $42,000. Institutional investors own 82.91% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TOST. Sanford C. Bernstein set a $39.00 price objective on Toast in a report on Monday, February 16th. Evercore upgraded Toast from an “in-line” rating to an “outperform” rating and set a $40.00 target price on the stock in a research note on Tuesday, January 20th. Stephens set a $42.00 price target on Toast in a research report on Friday, January 16th. Jefferies Financial Group set a $35.00 price target on shares of Toast in a research note on Friday, February 13th. Finally, Needham & Company LLC lowered their price objective on shares of Toast from $60.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Seventeen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Toast currently has an average rating of “Moderate Buy” and a consensus target price of $40.46.

Toast Price Performance

Shares of TOST stock opened at $27.54 on Friday. The company has a fifty day moving average price of $30.45 and a two-hundred day moving average price of $34.85. Toast, Inc. has a one year low of $24.35 and a one year high of $49.66. The stock has a market cap of $14.43 billion, a P/E ratio of 51.00 and a beta of 1.95.

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

Toast announced that its board has initiated a share repurchase program on Thursday, February 12th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Toast

In other news, CEO Aman Narang sold 1,648 shares of Toast stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 340,723 shares in the company, valued at approximately $10,337,535.82. The trade was a 0.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Elena Gomez sold 1,437 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 164,629 shares in the company, valued at $4,994,843.86. The trade was a 0.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 100,856 shares of company stock valued at $3,540,449. Company insiders own 12.14% of the company’s stock.

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.