Toast, Inc. $TOST Shares Acquired by American Century Companies Inc.

Key Points

• American Century Companies boosted its stake in Toast by 192.8% in Q3, buying an additional 978,225 shares to hold 1,485,601 shares worth about $54.24 million (≈0.29% of the company).
• Toast missed EPS estimates this quarter with $0.16 vs. $0.24 expected, but revenue rose 22% year-over-year to $1.63 billion; the company has a ~$16 billion market cap and a 12-month share range of $24.35–$49.66.
• Insiders have sold roughly 100,856 shares (~$3.54 million) in the past three months while institutional ownership is high at 82.91%; analysts carry a consensus "Moderate Buy" rating with an average price target of $40.46.

American Century Companies Inc. increased its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 192.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,485,601 shares of the company's stock after purchasing an additional 978,225 shares during the quarter. American Century Companies Inc. owned 0.29% of Toast worth $54,239,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Cim LLC grew its stake in Toast by 0.7% during the second quarter. Cim LLC now owns 38,302 shares of the company's stock worth $1,696,000 after buying an additional 273 shares during the period. Bridgewater Advisors Inc. lifted its holdings in shares of Toast by 2.3% during the 3rd quarter. Bridgewater Advisors Inc. now owns 13,107 shares of the company's stock valued at $472,000 after acquiring an additional 294 shares in the last quarter. Trinity Financial Advisors LLC boosted its position in Toast by 2.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 12,094 shares of the company's stock worth $442,000 after purchasing an additional 296 shares during the period. Parkside Financial Bank & Trust increased its holdings in Toast by 4.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 6,921 shares of the company's stock valued at $307,000 after purchasing an additional 306 shares in the last quarter. Finally, Purus Wealth Management LLC increased its holdings in Toast by 5.8% in the 3rd quarter. Purus Wealth Management LLC now owns 6,002 shares of the company's stock valued at $219,000 after purchasing an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Toast Price Performance

NYSE TOST opened at $30.54 on Friday. The company has a market capitalization of $16.00 billion, a price-to-earnings ratio of 56.56 and a beta of 1.95. Toast, Inc. has a 12 month low of $24.35 and a 12 month high of $49.66. The company's fifty day moving average price is $31.28 and its two-hundred day moving average price is $35.50.

Toast (NYSE:TOST - Get Free Report) last issued its earnings results 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 during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the company posted $0.05 EPS. The business's revenue for the quarter was up 22.0% compared to the same quarter last year. As a group, analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Toast declared that its board has initiated a share buyback program on Thursday, February 12th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insider Activity

In other Toast news, CEO Aman Narang sold 1,648 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total transaction of $50,000.32. Following the transaction, the chief executive officer owned 340,723 shares of the company's stock, valued at $10,337,535.82. This trade represents a 0.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Stephen Fredette sold 1,060 shares of Toast stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total value of $32,160.40. Following the completion of the transaction, the president owned 913,067 shares of the company's stock, valued at approximately $27,702,452.78. The trade was a 0.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 100,856 shares of company stock valued at $3,540,449 over the last three months. Company insiders own 12.14% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Stephens set a $42.00 target price on Toast in a research report on Friday, January 16th. JPMorgan Chase & Co. raised Toast from a "neutral" rating to an "overweight" rating and set a $43.00 price target on the stock in a research report on Thursday, December 4th. Canaccord Genuity Group set a $37.00 price target on Toast in a report on Friday, February 13th. Sanford C. Bernstein set a $39.00 price objective on shares of Toast in a research report on Monday, February 16th. Finally, Citigroup reduced their target price on shares of Toast from $51.00 to $42.00 and set a "buy" rating on the stock in a research report on Friday, February 13th. Seventeen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.46.

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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