Dnca Finance Increases Holdings in Toast, Inc. $TOST

Key Points

• Dnca Finance raised its stake in Toast by 25.8% in Q3, holding 195,650 shares valued at about $7.14 million.
• Insiders have sold 100,856 shares worth roughly $3.54 million in the last 90 days, leaving insiders with 12.14% ownership while institutions hold about 82.91%.
• Wall Street’s consensus is a “Moderate Buy” with an average target of $40.46; recent results showed an EPS miss ($0.16 vs. $0.24 est) but revenue was up 22% year‑over‑year.

Dnca Finance boosted its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 25.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 195,650 shares of the company's stock after buying an additional 40,150 shares during the quarter. Dnca Finance's holdings in Toast were worth $7,143,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quent Capital LLC purchased a new stake in Toast during the third quarter valued at about $27,000. RiverPark Advisors LLC purchased a new stake in shares of Toast in the second quarter worth about $30,000. Alpine Bank Wealth Management bought a new position in shares of Toast in the third quarter valued at approximately $30,000. Wolff Wiese Magana LLC purchased a new position in Toast during the third quarter valued at approximately $37,000. Finally, Loomis Sayles & Co. L P bought a new position in shares of Toast in the second quarter worth $42,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Toast

In related news, General Counsel Brian R. Elworthy sold 3,303 shares of Toast stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total value of $113,557.14. Following the transaction, the general counsel directly owned 235,757 shares of the company's stock, valued at $8,105,325.66. The trade was a 1.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Elena Gomez sold 1,437 shares of Toast stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total transaction of $43,598.58. Following the completion of the transaction, the chief financial officer directly owned 164,629 shares in the company, valued at approximately $4,994,843.86. The trade was a 0.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 100,856 shares of company stock valued at $3,540,449. Insiders own 12.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. 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 note on Tuesday, January 20th. Oppenheimer lowered 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. JPMorgan Chase & Co. upgraded 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. Morgan Stanley set a $51.00 price target on shares of Toast in a research note on Friday, February 13th. Finally, Truist Financial set a $36.00 price target on shares of Toast in a report on Wednesday, February 25th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, Toast currently has a consensus rating of "Moderate Buy" and an average price target of $40.46.

Toast Stock Performance

Shares of TOST opened at $27.54 on Friday. Toast, Inc. has a fifty-two week low of $24.35 and a fifty-two week high of $49.66. The firm has a market cap of $14.43 billion, a price-to-earnings ratio of 51.00 and a beta of 1.95. The firm has a 50 day moving average price of $30.45 and a 200-day moving average price of $34.92.

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

Toast announced that its board has initiated a stock buyback program on Thursday, February 12th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Toast Company 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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