Toast, Inc. $TOST Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its stake in Toast, Inc. (NYSE:TOST) by 12.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,526,694 shares of the company’s stock after selling 498,248 shares during the quarter. Federated Hermes Inc. owned approximately 0.69% of Toast worth $128,760,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TOST. Valeo Financial Advisors LLC lifted its position in shares of Toast by 25.5% in the third quarter. Valeo Financial Advisors LLC now owns 5,919 shares of the company’s stock valued at $216,000 after acquiring an additional 1,201 shares in the last quarter. Truist Financial Corp lifted its holdings in Toast by 99.9% in the 3rd quarter. Truist Financial Corp now owns 66,850 shares of the company’s stock valued at $2,441,000 after purchasing an additional 33,402 shares in the last quarter. J. Safra Sarasin Holding AG boosted its stake in Toast by 85.3% during the 3rd quarter. J. Safra Sarasin Holding AG now owns 80,430 shares of the company’s stock worth $2,936,000 after purchasing an additional 37,019 shares during the last quarter. GDS Wealth Management purchased a new stake in shares of Toast during the third quarter worth $207,000. Finally, PFG Investments LLC acquired a new stake in shares of Toast in the third quarter valued at about $358,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Toast news, CRO Jonathan Vassil sold 4,787 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $164,577.06. Following the transaction, the executive directly owned 79,802 shares in the company, valued at $2,743,592.76. This represents a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elena Gomez sold 6,672 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $229,383.36. Following the transaction, 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 102,595 shares of company stock worth $3,634,737. Insiders own 12.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TOST shares. Weiss Ratings restated a “hold (c-)” rating on shares of Toast in a research report on Monday, December 29th. DA Davidson set a $42.00 target price on Toast in a report on Wednesday, November 5th. UBS Group restated a “buy” rating on shares of Toast in a research report on Thursday, December 18th. BNP Paribas Exane upgraded Toast from a “hold” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research report on Monday, December 1st. Finally, Jefferies Financial Group lowered their price objective on Toast from $54.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.82.

Toast Stock Down 3.1%

TOST stock opened at $32.46 on Wednesday. Toast, Inc. has a 52-week low of $28.12 and a 52-week high of $49.66. The stock has a market cap of $16.72 billion, a price-to-earnings ratio of 75.50 and a beta of 1.93. The business has a fifty day moving average of $34.86 and a two-hundred day moving average of $38.78.

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

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.