Vanguard Group Inc. Has $1.63 Billion Stake in Toast, Inc. $TOST

Vanguard Group Inc. increased its stake in shares of Toast, Inc. (NYSE:TOST) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,764,157 shares of the company’s stock after purchasing an additional 352,435 shares during the quarter. Vanguard Group Inc. owned approximately 8.78% of Toast worth $1,634,339,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its stake in shares of Toast by 1,555.5% in the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after acquiring an additional 16,379 shares during the last quarter. Harbour Investments Inc. raised its stake in shares of Toast by 43.1% during the 2nd quarter. Harbour Investments Inc. now owns 1,827 shares of the company’s stock worth $81,000 after purchasing an additional 550 shares in the last quarter. Cullen Frost Bankers Inc. lifted its holdings in shares of Toast by 1,383.8% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,009 shares of the company’s stock valued at $45,000 after buying an additional 941 shares during the last quarter. Ethic Inc. grew its stake in shares of Toast by 32.7% in the 2nd quarter. Ethic Inc. now owns 28,820 shares of the company’s stock valued at $1,265,000 after buying an additional 7,101 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in Toast in the second quarter worth approximately $495,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Buying and Selling

In other Toast news, General Counsel Brian R. Elworthy sold 3,303 shares of the company’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 value of $113,557.14. Following the completion of the transaction, the general counsel owned 235,757 shares of the company’s stock, valued at $8,105,325.66. This represents a 1.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Elena Gomez sold 1,437 shares of Toast stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total value of $43,598.58. Following the sale, the chief financial officer directly owned 164,629 shares in the company, valued at $4,994,843.86. The trade was a 0.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 100,856 shares of company stock worth $3,540,449. 12.14% of the stock is currently owned by corporate insiders.

Toast Stock Performance

Shares of NYSE:TOST opened at $26.99 on Friday. The stock’s 50-day moving average is $32.78 and its 200-day moving average is $36.55. The company has a market cap of $14.14 billion, a P/E ratio of 49.98 and a beta of 1.93. Toast, Inc. has a 52-week low of $25.91 and a 52-week high of $49.66.

Toast (NYSE:TOST) last announced its earnings results 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). The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. Toast had a net margin of 5.56% and a return on equity of 18.14%. Toast’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS. As a group, equities analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

Toast declared that its Board of Directors has approved a stock repurchase program on Thursday, February 12th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

TOST has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Toast in a research report on Monday, December 29th. Wells Fargo & Company decreased their price objective on shares of Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Needham & Company LLC cut their target price on Toast from $60.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Jefferies Financial Group set a $35.00 price target on Toast in a research note on Friday, February 13th. Finally, Stephens set a $42.00 price objective on Toast in a report on Friday, January 16th. Seventeen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Toast presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.71.

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.