Voya Investment Management LLC Has $54.39 Million Position in Toast, Inc. $TOST

Voya Investment Management LLC trimmed its stake in Toast, Inc. (NYSE:TOST) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,489,723 shares of the company’s stock after selling 24,019 shares during the quarter. Voya Investment Management LLC owned about 0.29% of Toast worth $54,390,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Roundview Capital LLC grew its stake in shares of Toast by 0.6% in the 2nd quarter. Roundview Capital LLC now owns 43,619 shares of the company’s stock valued at $1,932,000 after buying an additional 245 shares during the period. Cim LLC boosted its holdings in Toast by 0.7% in the second quarter. Cim LLC now owns 38,302 shares of the company’s stock worth $1,696,000 after acquiring an additional 273 shares in the last quarter. GAMMA Investing LLC grew its stake in Toast by 7.2% in the second quarter. GAMMA Investing LLC now owns 4,139 shares of the company’s stock valued at $183,000 after acquiring an additional 278 shares during the period. True Vision MN LLC increased its holdings in shares of Toast by 3.6% during the second quarter. True Vision MN LLC now owns 8,186 shares of the company’s stock valued at $363,000 after acquiring an additional 285 shares in the last quarter. Finally, Trinity Financial Advisors LLC increased its holdings in shares of Toast by 2.5% during the third quarter. Trinity Financial Advisors LLC now owns 12,094 shares of the company’s stock valued at $442,000 after acquiring an additional 296 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Performance

Toast stock opened at $36.21 on Friday. Toast, Inc. has a fifty-two week low of $28.12 and a fifty-two week high of $49.66. The firm’s 50-day simple moving average is $35.89 and its 200 day simple moving average is $40.35. The stock has a market cap of $18.65 billion, a PE ratio of 84.21 and a beta of 1.94.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. Toast had a return on equity of 15.77% and a net margin of 4.68%.Toast’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 EPS. As a group, analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TOST. Robert W. Baird cut their target price on Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. BNP Paribas Exane upgraded shares of Toast from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a report on Monday, December 1st. The Goldman Sachs Group reduced their price objective on shares of Toast from $51.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, October 13th. BNP Paribas upgraded shares of Toast from a “hold” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Monday, December 1st. Finally, Truist Financial dropped their price target on shares of Toast from $47.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $45.18.

Insider Activity

In other news, CRO Jonathan Vassil sold 1,442 shares of Toast stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total transaction of $51,248.68. Following the sale, the executive directly owned 71,424 shares in the company, valued at $2,538,408.96. The trade was a 1.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 1,732 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $61,555.28. Following the transaction, the president owned 900,264 shares of the company’s stock, valued at approximately $31,995,382.56. The trade was a 0.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 49,759 shares of company stock worth $1,769,270. 12.14% of the stock is owned by insiders.

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.