Allspring Global Investments Holdings LLC Reduces Stake in Toast, Inc. $TOST

Key Points

• Allspring Global Investments Holdings LLC cut its stake in Toast by 48.6% in Q4, selling 683,692 shares and finishing the period with 722,672 shares worth about $24.6 million.
• Multiple senior executives sold roughly $1.04 million of Toast stock on April 2, and insiders have sold 74,249 shares (~$2.2 million) over the last 90 days, although insiders still own 12.14% of the company.
• Toast reported quarterly EPS of $0.16, missing the $0.24 consensus while revenue rose 22% YoY to $1.63 billion; analysts' consensus is a Moderate Buy with an average price target of $39.88.

Allspring Global Investments Holdings LLC lessened its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 48.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 722,672 shares of the company's stock after selling 683,692 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.14% of Toast worth $24,585,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC raised its stake in shares of Toast by 1,555.5% during the 1st quarter. NewEdge Advisors LLC now owns 17,432 shares of the company's stock valued at $578,000 after buying an additional 16,379 shares during the last quarter. Prudential Financial Inc. grew its holdings in Toast by 22.3% during the second quarter. Prudential Financial Inc. now owns 47,250 shares of the company's stock worth $2,021,000 after acquiring an additional 8,616 shares during the period. M&T Bank Corp raised its position in Toast by 14.2% during the second quarter. M&T Bank Corp now owns 43,856 shares of the company's stock valued at $1,942,000 after acquiring an additional 5,457 shares in the last quarter. Invesco Ltd. raised its position in Toast by 25.6% during the second quarter. Invesco Ltd. now owns 3,328,812 shares of the company's stock valued at $147,433,000 after acquiring an additional 678,971 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Toast by 7.6% in the second quarter. First Trust Advisors LP now owns 1,880,158 shares of the company's stock valued at $83,273,000 after acquiring an additional 132,856 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TOST shares. Stephens set a $42.00 price objective on shares of Toast in a research note on Friday, January 16th. DA Davidson decreased their target price on shares of Toast from $36.00 to $33.00 and set a "neutral" rating for the company in a research note on Tuesday, February 17th. Jefferies Financial Group set a $35.00 price target on shares of Toast in a report on Friday, February 13th. Canaccord Genuity Group set a $37.00 price target on shares of Toast in a research report on Friday, February 13th. Finally, Wells Fargo & Company cut their price objective on shares of Toast from $47.00 to $36.00 and set an "overweight" rating for the company in a report on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating and eight have assigned 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 price target of $39.88.

Toast Price Performance

Shares of TOST stock opened at $26.44 on Friday. Toast, Inc. has a 1 year low of $24.35 and a 1 year high of $49.66. The company's fifty day simple moving average is $28.10 and its two-hundred day simple moving average is $33.31. The stock has a market capitalization of $13.86 billion, a price-to-earnings ratio of 48.97 and a beta of 1.90.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.08). Toast had a net margin of 5.56% and a return on equity of 18.14%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the firm posted $0.05 earnings per share. The business's revenue for the quarter was up 22.0% compared to the same quarter last year. Equities research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Toast announced that its board has authorized a stock repurchase plan on Thursday, February 12th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Trending Headlines about Toast

Here are the key news stories impacting Toast this week:

• Neutral Sentiment: Loop Capital initiated coverage of Toast with a "Hold" rating, which removes an immediate buy catalyst and may cap near‑term upside until clearer growth/profitability signals arrive. Loop Capital coverage
• Neutral Sentiment: Toast has been heavily searched by investors (Zacks spotlight), which can increase short‑term volume and volatility but doesn't itself change fundamentals. Zacks: Investors Heavily Search
• Negative Sentiment: Multiple senior executives sold stock on April 2 (CEO Aman Narang, CFO Elena Gomez, President Stephen Fredette, General Counsel Brian Elworthy, and CRO Jonathan Vassil), collectively disposing of roughly $1.04M of shares at about $26.19 each. The CEO's sale reduced his holding by ~19.95%; other insiders also trimmed positions. Clustered sales by top management can be perceived negatively by the market (signaling liquidity needs or reduced insider confidence), even if they stem from routine vesting/diversification; filings are available with the SEC. CEO SEC filing

Insiders Place Their Bets

In other Toast news, General Counsel Brian R. Elworthy sold 3,664 shares of the firm's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $95,960.16. Following the completion of the transaction, the general counsel directly owned 243,642 shares of the company's stock, valued at $6,380,983.98. This trade represents a 1.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Elena Gomez sold 8,929 shares of the company's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $233,850.51. Following the completion of the transaction, the chief financial officer directly owned 173,064 shares in the company, valued at approximately $4,532,546.16. The trade was a 4.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 74,249 shares of company stock worth $2,201,620. 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.

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