Night Squared LP Sells 53,485 Shares of Toast, Inc. $TOST

Night Squared LP cut its position in Toast, Inc. (NYSE:TOST) by 28.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,749 shares of the company’s stock after selling 53,485 shares during the quarter. Toast comprises about 1.8% of Night Squared LP’s holdings, making the stock its 28th largest position. Night Squared LP’s holdings in Toast were worth $4,956,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC grew its stake in shares of Toast by 1,555.5% during the 1st 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 period. Savant Capital LLC raised its stake in Toast by 3.7% in the 2nd quarter. Savant Capital LLC now owns 10,147 shares of the company’s stock valued at $449,000 after acquiring an additional 359 shares during the period. Prospera Financial Services Inc purchased a new stake in Toast during the second quarter valued at about $361,000. Allworth Financial LP lifted its holdings in Toast by 75.7% during the second quarter. Allworth Financial LP now owns 1,402 shares of the company’s stock valued at $62,000 after purchasing an additional 604 shares during the last quarter. Finally, Nwam LLC bought a new position in Toast during the second quarter worth about $267,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TOST shares. Canaccord Genuity Group set a $37.00 target price on shares of Toast in a research note on Friday, February 13th. Wolfe Research cut shares of Toast from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 8th. The Goldman Sachs Group cut their price objective on shares of Toast from $43.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Citigroup reduced their price objective on shares of Toast from $51.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Finally, Jefferies Financial Group set a $35.00 target price on shares of Toast in a report on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.46.

Toast Stock Down 0.2%

Shares of TOST opened at $27.54 on Friday. Toast, Inc. has a twelve month low of $24.35 and a twelve month high of $49.66. The stock has a market cap of $14.43 billion, a PE ratio of 51.00 and a beta of 1.95. The business’s 50-day moving average price is $30.45 and its 200-day moving average price is $34.92.

Toast (NYSE:TOST) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $1.63 billion during 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 was up 22.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. Analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other news, CRO Jonathan Vassil sold 1,454 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total transaction of $44,114.36. Following the completion of the transaction, the executive directly owned 139,893 shares in the company, valued at $4,244,353.62. The trade was a 1.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Fredette sold 1,060 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total transaction of $32,160.40. Following the completion of the transaction, the president directly owned 913,067 shares in the company, valued at approximately $27,702,452.78. The trade was a 0.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 100,856 shares of company stock worth $3,540,449. 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.