Maestria Partners LLC Makes New Investment in Toast, Inc. $TOST

Key Points

• Maestria Partners LLC purchased 400,000 Toast shares worth approximately $11.6 million, making Toast its 15th-largest holding and representing about 3.9% of its portfolio.
• Institutional investors and hedge funds own 82.91% of Toast. Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $39.11.
• Toast reported 23.1% year-over-year revenue growth to $1.91 billion, though quarterly EPS of $0.26 missed the $0.32 consensus estimate. Insiders sold $18.6 million of stock in the latest quarter, primarily to cover tax obligations from vested equity awards.

Maestria Partners LLC purchased a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 400,000 shares of the company's stock, valued at approximately $11,596,000. Toast accounts for approximately 3.9% of Maestria Partners LLC's portfolio, making the stock its 15th largest holding. Maestria Partners LLC owned approximately 0.08% of Toast as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in shares of Toast by 36.0% in the first quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company's stock worth $211,478,000 after purchasing an additional 2,111,009 shares during the period. Bank of America Corp DE boosted its stake in Toast by 10.6% during the 1st quarter. Bank of America Corp DE now owns 4,866,197 shares of the company's stock valued at $129,003,000 after purchasing an additional 465,006 shares during the period. Renaissance Technologies LLC boosted its stake in Toast by 25.1% during the 1st quarter. Renaissance Technologies LLC now owns 4,321,437 shares of the company's stock valued at $114,561,000 after purchasing an additional 867,509 shares during the period. Amova Asset Management Americas Inc. lifted its holdings in shares of Toast by 0.4% during the first quarter. Amova Asset Management Americas Inc. now owns 3,817,961 shares of the company's stock worth $101,176,000 after buying an additional 16,614 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Toast by 24.5% during the first quarter. Amundi now owns 3,329,206 shares of the company's stock worth $88,257,000 after buying an additional 655,717 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TOST has been the topic of several research analyst reports. Bank of America started coverage on shares of Toast in a research note on Thursday, October 15th. They issued a "buy" rating and a $40.00 price objective on the stock. DA Davidson boosted their target price on shares of Toast from $30.00 to $34.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Citigroup upped their target price on shares of Toast from $36.00 to $39.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Canaccord Genuity Group set a $40.00 price target on shares of Toast in a report on Wednesday, August 5th. Finally, Wall Street Zen downgraded shares of Toast from a "buy" rating to a "hold" rating in a report on Sunday, October 4th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, Toast presently has an average rating of "Moderate Buy" and a consensus price target of $39.11.

Insider Buying and Selling at Toast

In related news, General Counsel Brian Elworthy sold 6,507 shares of the company's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $29.35, for a total value of $190,980.45. Following the completion of the transaction, the general counsel directly owned 204,023 shares in the company, valued at approximately $5,988,075.05. This represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Elena Gomez sold 11,886 shares of the company's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $29.35, for a total value of $348,854.10. Following the completion of the transaction, the chief financial officer owned 171,957 shares of the company's stock, valued at $5,046,937.95. The trade was a 6.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 534,830 shares of company stock valued at $18,566,600 in the last quarter. 10.03% of the stock is currently owned by corporate insiders.

Toast Stock Up 2.7%

Toast stock opened at $33.41 on Friday. The business has a 50 day moving average price of $32.40 and a two-hundred day moving average price of $29.41. The stock has a market cap of $17.18 billion, a price-to-earnings ratio of 41.19 and a beta of 1.74. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $39.72.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the business posted $0.13 EPS. Toast's revenue was up 23.1% compared to the same quarter last year. On average, analysts expect that Toast, Inc. will post 1.00 earnings per share for the current fiscal year.

Toast Company Profile

Toast, Inc NYSE: TOST provides a cloud-based technology platform designed for restaurants. Its integrated system combines point-of-sale software and hardware with payment processing, helping restaurants manage sales, orders, menus, guest interactions and day-to-day operations from a unified platform.

The company offers products and services including online ordering, delivery management, digital ordering and payment tools, restaurant websites, gift cards, loyalty programs, marketing, labor management, payroll, inventory management, reporting and analytics.

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