Carnegie Investment Counsel Has $362,000 Stock Holdings in Toast, Inc. $TOST

Key Points

• Carnegie Investment Counsel slashed its stake in Toast by 95.6% in Q4, selling 220,280 shares and retaining 10,200 shares valued at about $362,000.
• Company insiders have been net sellers: CEO Aman Narang sold 13,463 shares and General Counsel Brian Elworthy sold 3,664 shares on April 2, with insiders disposing of 46,030 shares worth $1.23M over the last 90 days and now owning 12.14% of the company.
• Analysts’ consensus is a Moderate Buy with a $39.88 average target; Toast recently missed EPS ( $0.16 vs. $0.24) while revenue jumped 22%, and the stock trades near $27 with a $14.24B market cap.

Carnegie Investment Counsel lessened its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 95.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,200 shares of the company's stock after selling 220,280 shares during the period. Carnegie Investment Counsel's holdings in Toast were worth $362,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TOST. Quent Capital LLC bought a new stake in shares of Toast in the third quarter valued at approximately $27,000. Alpine Bank Wealth Management bought a new stake in shares of Toast in the third quarter valued at approximately $30,000. Central Pacific Bank Trust Division boosted its position in shares of Toast by 123.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 943 shares of the company's stock valued at $33,000 after acquiring an additional 521 shares during the period. Wolff Wiese Magana LLC bought a new stake in shares of Toast in the third quarter valued at approximately $37,000. Finally, Root Financial Partners LLC bought a new stake in shares of Toast in the third quarter valued at approximately $42,000. 82.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TOST shares. Canaccord Genuity Group set a $37.00 price objective on Toast in a research report on Friday, February 13th. Stephens set a $42.00 price objective on Toast in a research report on Friday, January 16th. Needham & Company LLC reduced their price objective on Toast from $60.00 to $35.00 and set a "buy" rating for the company in a research report on Friday, February 13th. Wolfe Research cut Toast from an "outperform" rating to a "peer perform" rating in a research report on Thursday, January 8th. Finally, Evercore raised Toast from an "in-line" rating to an "outperform" rating and set a $40.00 price objective for the company in a research report on Tuesday, January 20th. Seventeen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $39.88.

Insider Transactions at Toast

In related news, General Counsel Brian R. Elworthy sold 3,664 shares of the firm's stock in a transaction on Thursday, April 2nd. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Aman Narang sold 13,463 shares of the firm's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total value of $352,595.97. Following the completion of the transaction, the chief executive officer directly owned 54,013 shares of the company's stock, valued at approximately $1,414,600.47. This trade represents a 19.95% decrease in their ownership of the stock. 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 90 days. Corporate insiders own 12.14% of the company's stock.

Toast Price Performance

Shares of TOST stock opened at $27.17 on Tuesday. The stock has a market cap of $14.24 billion, a P/E ratio of 50.32 and a beta of 1.90. Toast, Inc. has a one year low of $24.35 and a one year high of $49.66. The stock has a fifty day moving average price of $27.43 and a 200 day moving average price of $32.68.

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

Toast declared that its Board of Directors has approved a stock repurchase program on Thursday, February 12th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors 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.

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