Syon Capital LLC Invests $884,000 in Toast, Inc. $TOST

Syon Capital LLC purchased a new stake in Toast, Inc. (NYSE:TOST) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 24,205 shares of the company’s stock, valued at approximately $884,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Northeast Investment Management grew its position in Toast by 2.8% during the third quarter. Northeast Investment Management now owns 81,889 shares of the company’s stock worth $2,990,000 after buying an additional 2,199 shares during the period. Wealthcare Advisory Partners LLC purchased a new stake in shares of Toast during the 3rd quarter worth approximately $332,000. GSA Capital Partners LLP grew its holdings in shares of Toast by 2.5% in the 3rd quarter. GSA Capital Partners LLP now owns 64,541 shares of the company’s stock worth $2,356,000 after acquiring an additional 1,546 shares during the period. SMART Wealth LLC acquired a new position in shares of Toast during the 3rd quarter worth approximately $238,000. Finally, M&G PLC lifted its stake in Toast by 3.3% in the 3rd quarter. M&G PLC now owns 258,872 shares of the company’s stock valued at $9,578,000 after buying an additional 8,322 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

TOST has been the topic of several recent research reports. Jefferies Financial Group set a $35.00 price objective on Toast in a research report on Friday, February 13th. Wolfe Research lowered shares of Toast from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Morgan Stanley set a $51.00 price target on Toast in a research note on Friday, February 13th. JPMorgan Chase & Co. raised shares of Toast from a “neutral” rating to an “overweight” rating and set a $43.00 target price for the company in a research report on Thursday, December 4th. Finally, Oppenheimer cut their target price on shares of Toast from $48.00 to $39.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. Seventeen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.71.

Toast Stock Down 0.5%

TOST opened at $27.50 on Friday. The firm’s 50 day moving average is $32.95 and its 200-day moving average is $36.70. Toast, Inc. has a 52-week low of $25.91 and a 52-week high of $49.66. The firm has a market capitalization of $16.17 billion, a P/E ratio of 50.84 and a beta of 1.93.

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 firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Toast had a net margin of 5.56% and a return on equity of 18.86%. Toast’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.05 earnings per share. Equities 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 share buyback plan on Thursday, February 12th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Aman Narang sold 8,591 shares of the firm’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 $295,358.58. Following the completion of the sale, the chief executive officer directly owned 338,850 shares in the company, valued at $11,649,663. This trade represents a 2.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 3,303 shares of Toast stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $113,557.14. Following the sale, the general counsel directly owned 235,757 shares in the company, valued at approximately $8,105,325.66. The trade was a 1.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 100,856 shares of company stock worth $3,540,449 over the last quarter. 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.