Toast, Inc. $TOST Position Reduced by Mirabella Financial Services LLP

Mirabella Financial Services LLP reduced its stake in shares of Toast, Inc. (NYSE:TOST) by 76.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,516 shares of the company’s stock after selling 18,335 shares during the quarter. Mirabella Financial Services LLP’s holdings in Toast were worth $201,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their price target on Toast from $47.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. 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. DA Davidson dropped their target price on shares of Toast from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Tuesday, February 17th. Canaccord Genuity Group set a $37.00 price target on shares of Toast in a report on Friday, February 13th. Finally, BNP Paribas Exane raised shares of Toast from a “hold” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Monday, December 1st. Seventeen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.46.

Toast Stock Performance

NYSE:TOST opened at $27.46 on Friday. The stock has a market cap of $14.39 billion, a price-to-earnings ratio of 50.85 and a beta of 1.95. Toast, Inc. has a 1 year low of $24.35 and a 1 year high of $49.66. The business has a fifty day moving average of $29.64 and a 200-day moving average of $34.33.

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

Toast declared that its board has authorized a stock buyback plan on Thursday, February 12th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Toast

In other news, President Stephen Fredette sold 4,866 shares of the business’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 $167,293.08. Following the sale, the president owned 910,606 shares of the company’s stock, valued at approximately $31,306,634.28. The trade was a 0.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Jonathan Vassil sold 66,390 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were 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 approximately $3,033,361.54. This trade represents a 43.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 100,856 shares of company stock worth $3,540,449 in the last quarter. Company insiders own 12.14% of the company’s stock.

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.