Toast, Inc. $TOST Stock Holdings Lifted by Neo Ivy Capital Management

Neo Ivy Capital Management grew its stake in shares of Toast, Inc. (NYSE:TOST) by 35.8% in the third quarter, Holdings Channel.com reports. The fund owned 90,562 shares of the company’s stock after buying an additional 23,854 shares during the quarter. Toast comprises about 0.8% of Neo Ivy Capital Management’s holdings, making the stock its 26th biggest position. Neo Ivy Capital Management’s holdings in Toast were worth $3,306,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Neuberger Berman Group LLC lifted its holdings in shares of Toast by 13.4% during the third quarter. Neuberger Berman Group LLC now owns 1,670,185 shares of the company’s stock valued at $60,978,000 after purchasing an additional 197,547 shares during the last quarter. Orion Porfolio Solutions LLC increased its stake in Toast by 22.6% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 49,102 shares of the company’s stock worth $1,793,000 after purchasing an additional 9,061 shares in the last quarter. ARK Investment Management LLC increased its stake in Toast by 9.9% in the 3rd quarter. ARK Investment Management LLC now owns 2,063,456 shares of the company’s stock worth $75,337,000 after purchasing an additional 185,574 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Toast by 5.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,327,263 shares of the company’s stock worth $48,467,000 after buying an additional 67,310 shares during the period. Finally, Cresset Asset Management LLC raised its holdings in Toast by 14.0% during the 3rd quarter. Cresset Asset Management LLC now owns 39,629 shares of the company’s stock worth $1,447,000 after buying an additional 4,861 shares during the period. 82.91% of the stock is owned by institutional investors.

Insider Activity at Toast

In other Toast news, CRO Jonathan Vassil sold 66,390 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $35.86, for a total value of $2,380,745.40. Following the completion of the sale, the executive owned 84,589 shares of the company’s stock, valued at $3,033,361.54. The trade was a 43.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elena Gomez sold 6,672 shares of the company’s 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 sale, the chief financial officer owned 162,153 shares of the company’s stock, valued at approximately $5,574,820.14. This trade represents a 3.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 100,856 shares of company stock valued at $3,540,449. Insiders own 12.14% of the company’s stock.

Toast Stock Down 0.4%

Shares of TOST opened at $30.38 on Friday. The firm has a market cap of $15.92 billion, a price-to-earnings ratio of 56.26 and a beta of 1.95. The company’s fifty day moving average is $31.16 and its 200-day moving average is $35.42. Toast, Inc. has a 12 month low of $24.35 and a 12 month high of $49.66.

Toast (NYSE:TOST) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). The business 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 firm’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 EPS. As a group, research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Toast announced that its Board of Directors 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. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have commented on TOST shares. Morgan Stanley set a $51.00 target price on shares of Toast in a report on Friday, February 13th. Truist Financial set a $36.00 price target on shares of Toast in a research report on Wednesday, February 25th. Mizuho decreased their price objective on shares of Toast from $57.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Oppenheimer lowered their price objective on shares of Toast from $48.00 to $39.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Finally, Wells Fargo & Company cut their target price on shares of Toast from $47.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Toast presently has a consensus rating of “Moderate Buy” and an average target price of $40.46.

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.