Toast, Inc. $TOST Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. grew its stake in Toast, Inc. (NYSE:TOST) by 2,432.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,215,758 shares of the company’s stock after purchasing an additional 7,891,383 shares during the quarter. Alliancebernstein L.P. owned approximately 1.60% of Toast worth $299,957,000 as of its most recent filing with the SEC.

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

Insider Activity at Toast

In related news, CRO Jonathan Vassil sold 66,390 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $35.86, for a total transaction of $2,380,745.40. Following the completion of the transaction, the executive owned 84,589 shares of the company’s stock, valued at $3,033,361.54. This trade represents a 43.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Stephen Fredette sold 4,866 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 value of $167,293.08. Following the transaction, the president directly owned 910,606 shares in the company, valued at approximately $31,306,634.28. The trade was a 0.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 100,856 shares of company stock worth $3,540,449 in the last quarter. Company insiders own 12.14% of the company’s stock.

Toast Stock Performance

TOST stock opened at $27.54 on Monday. Toast, Inc. has a 1 year low of $24.35 and a 1 year high of $49.66. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 51.00 and a beta of 1.95. The stock’s fifty day moving average is $30.45 and its two-hundred day moving average is $34.79.

Toast (NYSE:TOST) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.16 earnings per share 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 for the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the firm posted $0.05 EPS. The business’s quarterly revenue was up 22.0% on a year-over-year basis. As a group, analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Toast declared that its board has authorized 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. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TOST. BNP Paribas Exane upgraded shares of Toast from a “hold” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Monday, December 1st. Jefferies Financial Group set a $35.00 price target on shares of Toast in a research report on Friday, February 13th. Stephens set a $42.00 price target on shares of Toast in a report on Friday, January 16th. Oppenheimer lowered their price objective on shares of Toast from $48.00 to $39.00 and set an “outperform” rating for the company in a research report on Friday, February 13th. Finally, Morgan Stanley set a $51.00 price objective on shares of Toast in a research note on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.46.

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.