Toast, Inc. $TOST Shares Bought by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC boosted its stake in Toast by 285.3% in Q4, adding 213,459 shares to hold 288,286 shares worth about $10.24 million (0.06% of the company).
• Several large institutions (AllianceBernstein, Jennison, Marshall Wace, Norges, ValueAct) have built or expanded big positions—institutions own about 82.91% of the stock—while insiders sold 100,856 shares (~$3.54M) last quarter and now own 12.14%.
• Toast posted Q results showing an EPS miss ($0.16 vs. $0.24 est.) but revenue grew 22% YoY to $1.63B, and analysts maintain a consensus rating of “Moderate Buy” with an average target of $40.46.

SG Americas Securities LLC grew its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 285.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 288,286 shares of the company's stock after buying an additional 213,459 shares during the period. SG Americas Securities LLC owned 0.06% of Toast worth $10,237,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Alliancebernstein L.P. increased its position in Toast by 2,432.8% in the 3rd quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company's stock valued at $299,957,000 after acquiring an additional 7,891,383 shares during the period. Jennison Associates LLC boosted its position in Toast by 74.4% during the 3rd quarter. Jennison Associates LLC now owns 15,000,561 shares of the company's stock worth $547,670,000 after acquiring an additional 6,398,674 shares during the period. Norges Bank bought a new position in shares of Toast in the second quarter worth $219,324,000. Marshall Wace LLP increased its holdings in shares of Toast by 108.3% during the second quarter. Marshall Wace LLP now owns 7,887,409 shares of the company's stock valued at $349,333,000 after purchasing an additional 4,100,104 shares during the period. Finally, ValueAct Holdings L.P. acquired a new position in shares of Toast during the third quarter valued at $124,032,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Toast

In related news, 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 value of $43,598.58. Following the transaction, the chief financial officer directly owned 164,629 shares in the company, valued at $4,994,843.86. The trade was a 0.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Aman Narang sold 1,648 shares of the business's stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total value of $50,000.32. Following the sale, the chief executive officer directly owned 340,723 shares in the company, valued at $10,337,535.82. This trade represents a 0.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 100,856 shares of company stock worth $3,540,449. 12.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Oppenheimer reduced their price objective on shares of Toast from $48.00 to $39.00 and set an "outperform" rating for the company in a report on Friday, February 13th. Weiss Ratings reissued a "hold (c-)" rating on shares of Toast in a research note on Monday, December 29th. Stephens set a $42.00 price target on shares of Toast in a research report on Friday, January 16th. Wolfe Research lowered shares of Toast from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 8th. Finally, UBS Group set a $40.00 price objective on shares of Toast in a report on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $40.46.

Toast Price Performance

TOST stock opened at $25.63 on Monday. The firm has a market cap of $13.43 billion, a PE ratio of 47.45 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 firm has a 50 day simple moving average of $28.82 and a 200 day simple moving average of $33.71.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. Toast had a return on equity of 18.14% and a net margin of 5.56%.The company's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 EPS. As a group, sell-side analysts expect that Toast, Inc. will post 0.39 earnings per share 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. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is 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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