Swiss National Bank Has $47.17 Million Position in Toast, Inc. $TOST

Swiss National Bank cut its stake in shares of Toast, Inc. (NYSE:TOST) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,292,000 shares of the company’s stock after selling 53,800 shares during the quarter. Swiss National Bank owned 0.25% of Toast worth $47,171,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 3,303 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 transaction of $113,557.14. Following the completion of the sale, the general counsel directly owned 235,757 shares in the company, valued at approximately $8,105,325.66. This trade represents a 1.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Jonathan Vassil sold 1,454 shares of Toast stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total value of $44,114.36. Following the completion of the transaction, the executive directly owned 139,893 shares of the company’s stock, valued at approximately $4,244,353.62. This trade represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 100,856 shares of company stock valued at $3,540,449. 12.14% of the stock is owned by corporate insiders.

Toast Stock Performance

Shares of NYSE TOST opened at $27.70 on Friday. The company’s 50 day moving average price is $30.57 and its 200-day moving average price is $35.03. Toast, Inc. has a 52-week low of $24.35 and a 52-week high of $49.66. The company has a market capitalization of $14.52 billion, a P/E ratio of 51.30 and a beta of 1.95.

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

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TOST. Wells Fargo & Company dropped their price target on Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Wolfe Research cut Toast from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Citigroup dropped their target price on Toast from $51.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, February 13th. BNP Paribas Exane raised Toast from a “hold” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Monday, December 1st. Finally, DA Davidson reduced their price target on Toast from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Tuesday, February 17th. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Toast has an average rating of “Moderate Buy” and an average target price 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.