27,785 Shares in Toast, Inc. $TOST Bought by TABR Capital Management LLC

TABR Capital Management LLC purchased a new stake in Toast, Inc. (NYSE:TOST) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,785 shares of the company’s stock, valued at approximately $987,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH grew its stake in Toast by 322.0% in the third quarter. Allianz Asset Management GmbH now owns 362,765 shares of the company’s stock worth $13,245,000 after purchasing an additional 276,803 shares in the last quarter. Candriam S.C.A. raised its stake in Toast by 10.9% during the third quarter. Candriam S.C.A. now owns 602,200 shares of the company’s stock valued at $21,986,000 after buying an additional 59,045 shares in the last quarter. Nordea Investment Management AB raised its stake in Toast by 49.5% during the third quarter. Nordea Investment Management AB now owns 138,619 shares of the company’s stock valued at $4,988,000 after buying an additional 45,898 shares in the last quarter. Citigroup Inc. lifted its holdings in Toast by 17.2% during the 3rd quarter. Citigroup Inc. now owns 1,042,102 shares of the company’s stock worth $38,047,000 after buying an additional 152,807 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Toast during the 3rd quarter worth approximately $2,891,000. 82.91% of the stock is currently owned by institutional investors.

Insider Transactions at Toast

In other news, CRO Jonathan Vassil sold 6,438 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $168,611.22. Following the completion of the transaction, the executive owned 146,618 shares in the company, valued at approximately $3,839,925.42. This represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Aman Narang sold 13,463 shares of the stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $352,595.97. Following the completion of the sale, the chief executive officer directly owned 54,013 shares in the company, valued at approximately $1,414,600.47. This trade represents a 19.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 46,030 shares of company stock valued at $1,231,451 over the last three months. 12.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TOST shares. Jefferies Financial Group set a $35.00 price target on Toast in a report on Friday, February 13th. Wolfe Research cut Toast from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 8th. Truist Financial set a $36.00 price objective on shares of Toast in a report on Wednesday, February 25th. Loop Capital began coverage on shares of Toast in a research note on Tuesday, March 31st. They set a “hold” rating and a $26.00 target price for the company. Finally, BMO Capital Markets assumed coverage on shares of Toast in a report on Tuesday. They set an “outperform” rating and a $35.00 target price on the stock. Seventeen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Toast currently has an average rating of “Moderate Buy” and an average target price of $39.48.

Toast Trading Down 1.8%

NYSE:TOST opened at $28.65 on Wednesday. The stock has a 50 day moving average of $27.45 and a 200-day moving average of $32.34. The firm has a market capitalization of $15.01 billion, a PE ratio of 53.06 and a beta of 1.90. Toast, Inc. has a 52 week low of $24.35 and a 52 week high of $49.66.

Toast (NYSE:TOST) last announced its quarterly earnings results on Thursday, February 12th. 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 18.14% and a net margin of 5.56%.The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the business posted $0.05 EPS. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. As a group, analysts predict that Toast, Inc. will post 0.81 EPS for the current fiscal year.

Toast announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 12th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.