Fox Run Management L.L.C. Invests $2.06 Million in Toast, Inc. $TOST

Fox Run Management L.L.C. acquired a new stake in Toast, Inc. (NYSE:TOST) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 56,424 shares of the company’s stock, valued at approximately $2,060,000. Toast accounts for about 0.3% of Fox Run Management L.L.C.’s investment portfolio, making the stock its 27th biggest holding.

A number of other large investors have also bought and sold shares of TOST. Quent Capital LLC acquired a new position in shares of Toast in the third quarter valued at approximately $27,000. RiverPark Advisors LLC acquired a new stake in shares of Toast during the second quarter worth $30,000. Alpine Bank Wealth Management bought a new stake in Toast in the 3rd quarter valued at $30,000. Wolff Wiese Magana LLC acquired a new position in Toast in the 3rd quarter worth $37,000. Finally, Loomis Sayles & Co. L P bought a new position in Toast during the 2nd quarter worth about $42,000. 82.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TOST. Jefferies Financial Group set a $35.00 price objective on Toast in a research report on Friday, February 13th. BNP Paribas Exane upgraded Toast from a “hold” rating to an “outperform” rating and set a $40.00 target price on the stock in a research note on Monday, December 1st. UBS Group set a $40.00 price target on shares of Toast in a research note on Friday, February 13th. DA Davidson cut their price objective on shares of Toast from $36.00 to $33.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Finally, Canaccord Genuity Group set a $37.00 target price on shares of Toast in a research report on Friday, February 13th. Seventeen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.71.

Insiders Place Their Bets

In other news, President Stephen Fredette sold 1,060 shares of the firm’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 $32,160.40. Following the completion of the sale, the president directly owned 913,067 shares of the company’s stock, valued at $27,702,452.78. This trade represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Brian R. Elworthy sold 3,303 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $113,557.14. Following the transaction, the general counsel directly owned 235,757 shares in the company, valued at $8,105,325.66. The trade was a 1.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 100,856 shares of company stock worth $3,540,449 in the last three months. Insiders own 12.14% of the company’s stock.

Toast Trading Up 1.9%

Shares of TOST opened at $25.55 on Wednesday. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 47.31 and a beta of 1.93. Toast, Inc. has a 1-year low of $24.35 and a 1-year high of $49.66. The company’s fifty day simple moving average is $32.40 and its 200 day simple moving average is $36.13.

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

Toast declared that its board has approved a stock buyback plan on Thursday, February 12th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.