Zevenbergen Capital Investments LLC Reduces Stake in Toast, Inc. $TOST

Zevenbergen Capital Investments LLC reduced its stake in shares of Toast, Inc. (NYSE:TOST) by 1.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,117,310 shares of the company’s stock after selling 38,857 shares during the period. Toast comprises 1.5% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 20th biggest position. Zevenbergen Capital Investments LLC’s holdings in Toast were worth $77,303,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of TOST. Roundview Capital LLC lifted its stake in Toast by 0.6% in the second quarter. Roundview Capital LLC now owns 43,619 shares of the company’s stock valued at $1,932,000 after purchasing an additional 245 shares during the last quarter. Cim LLC raised its stake in shares of Toast by 0.7% in the second quarter. Cim LLC now owns 38,302 shares of the company’s stock valued at $1,696,000 after buying an additional 273 shares during the period. GAMMA Investing LLC raised its stake in shares of 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 buying an additional 278 shares during the period. True Vision MN LLC lifted its position in shares of Toast by 3.6% during the 2nd quarter. True Vision MN LLC now owns 8,186 shares of the company’s stock valued at $363,000 after buying an additional 285 shares during the last quarter. Finally, Trinity Financial Advisors LLC grew its stake in shares of Toast by 2.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 12,094 shares of the company’s stock worth $442,000 after acquiring an additional 296 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Transactions at Toast

In related news, General Counsel Brian R. Elworthy sold 4,987 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $177,337.72. Following the sale, the general counsel owned 227,924 shares in the company, valued at approximately $8,104,977.44. This trade represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Aman Narang sold 13,652 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $485,465.12. Following the completion of the sale, the chief executive officer directly owned 318,150 shares in the company, valued at approximately $11,313,414. The trade was a 4.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 49,759 shares of company stock valued at $1,769,270. Corporate insiders own 12.14% of the company’s stock.

Analysts Set New Price Targets

TOST has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Toast from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Keefe, Bruyette & Woods reduced their target price on shares of Toast from $50.00 to $42.00 and set a “market perform” rating for the company in a research note on Wednesday, October 1st. BNP Paribas upgraded shares of 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. DA Davidson set a $42.00 price objective on shares of Toast in a report on Wednesday, November 5th. Finally, Wolfe Research reissued an “outperform” rating and set a $48.00 target price on shares of Toast in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $45.18.

Toast Trading Down 1.1%

TOST stock opened at $36.21 on Friday. The firm has a 50 day moving average of $35.89 and a 200-day moving average of $40.35. The firm has a market capitalization of $18.65 billion, a P/E ratio of 84.21 and a beta of 1.94. Toast, Inc. has a 12 month low of $28.12 and a 12 month high of $49.66.

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

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.