Andra AP fonden Buys 239,300 Shares of Toast, Inc. $TOST

Andra AP fonden boosted its stake in shares of Toast, Inc. (NYSE:TOST) by 69.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 583,900 shares of the company’s stock after purchasing an additional 239,300 shares during the period. Andra AP fonden owned 0.11% of Toast worth $21,318,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in TOST. Xponance Inc. boosted its holdings in shares of Toast by 4.4% in the 3rd quarter. Xponance Inc. now owns 96,828 shares of the company’s stock valued at $3,535,000 after buying an additional 4,044 shares during the last quarter. DNB Asset Management AS raised its position in Toast by 4.3% during the third quarter. DNB Asset Management AS now owns 83,718 shares of the company’s stock worth $3,057,000 after acquiring an additional 3,468 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Toast by 7.4% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 500,943 shares of the company’s stock valued at $18,289,000 after acquiring an additional 34,683 shares during the last quarter. Primecap Management Co. CA acquired a new stake in Toast in the third quarter valued at $2,939,000. Finally, US Bancorp DE grew its position in shares of Toast by 9.4% in the 3rd quarter. US Bancorp DE now owns 57,928 shares of the company’s stock valued at $2,115,000 after acquiring an additional 4,978 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Performance

Toast stock opened at $27.33 on Friday. Toast, Inc. has a 52 week low of $24.35 and a 52 week high of $49.66. The stock has a market capitalization of $14.32 billion, a P/E ratio of 50.60 and a beta of 1.93. The stock has a fifty day moving average of $31.87 and a 200-day moving average of $35.90.

Toast (NYSE:TOST) last released its earnings results 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 the consensus estimate of $1.62 billion. During the same quarter in the prior year, the firm earned $0.05 EPS. The business’s revenue was up 22.0% on a year-over-year basis. On average, research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Toast announced that its board has authorized a stock repurchase plan on Thursday, February 12th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, CFO Elena Gomez sold 6,672 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $229,383.36. Following the completion of the sale, the chief financial officer owned 162,153 shares of the company’s stock, valued at approximately $5,574,820.14. This represents a 3.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Brian R. Elworthy sold 3,303 shares of the firm’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 transaction of $113,557.14. Following the transaction, the general counsel owned 235,757 shares of the company’s stock, valued at approximately $8,105,325.66. The trade was a 1.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 100,856 shares of company stock valued at $3,540,449 over the last three months. Insiders own 12.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TOST shares. Evercore upgraded shares of Toast from an “in-line” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Tuesday, January 20th. JPMorgan Chase & Co. raised Toast from a “neutral” rating to an “overweight” rating and set a $43.00 price objective for the company in a research report on Thursday, December 4th. Wolfe Research lowered Toast from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Stephens set a $42.00 price target on Toast in a research note on Friday, January 16th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Toast in a research report on Monday, December 29th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.