J. Safra Sarasin Holding AG Grows Stake in Toast, Inc. $TOST

J. Safra Sarasin Holding AG grew its holdings in shares of Toast, Inc. (NYSE:TOST) by 85.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,430 shares of the company’s stock after buying an additional 37,019 shares during the period. J. Safra Sarasin Holding AG’s holdings in Toast were worth $2,936,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Toast by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 44,411,722 shares of the company’s stock valued at $1,966,995,000 after purchasing an additional 466,138 shares during the period. Jennison Associates LLC lifted its holdings in Toast by 74.4% in the third quarter. Jennison Associates LLC now owns 15,000,561 shares of the company’s stock worth $547,670,000 after buying an additional 6,398,674 shares during the period. State Street Corp boosted its position in Toast by 2.7% during the 2nd quarter. State Street Corp now owns 9,212,889 shares of the company’s stock valued at $408,039,000 after acquiring an additional 245,276 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Toast by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 7,902,519 shares of the company’s stock worth $348,906,000 after acquiring an additional 218,537 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Toast by 108.3% in the 2nd quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock worth $349,333,000 after acquiring an additional 4,100,104 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

Shares of NYSE:TOST opened at $32.46 on Wednesday. The business has a 50-day simple moving average of $34.86 and a two-hundred day simple moving average of $38.78. The firm has a market cap of $16.72 billion, a price-to-earnings ratio of 75.50 and a beta of 1.93. Toast, Inc. has a fifty-two week low of $28.12 and a fifty-two week high of $49.66.

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

Insider Activity

In other Toast news, CFO Elena Gomez sold 6,672 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $229,383.36. Following the completion of the sale, the chief financial officer directly owned 162,153 shares in the company, valued at $5,574,820.14. The trade was a 3.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Stephen Fredette sold 4,866 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $167,293.08. Following the sale, the president directly owned 910,606 shares of the company’s stock, valued at $31,306,634.28. The trade was a 0.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 102,595 shares of company stock worth $3,634,737. Insiders own 12.14% of the company’s stock.

Wall Street Analysts Forecast Growth

TOST has been the topic of several recent research reports. JPMorgan Chase & Co. raised Toast from a “neutral” rating to an “overweight” rating and set a $43.00 price target on the stock in a research note on Thursday, December 4th. Keefe, Bruyette & Woods decreased their price target 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. Royal Bank Of Canada set a $45.00 price objective on shares of Toast in a research note on Wednesday, November 5th. BNP Paribas Exane raised shares of Toast from a “hold” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Monday, December 1st. Finally, Citigroup raised Toast to a “strong-buy” rating in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $45.82.

About Toast

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.