Great Lakes Advisors LLC Has $1.03 Million Stock Position in Toast, Inc. $TOST

Great Lakes Advisors LLC decreased its stake in shares of Toast, Inc. (NYSE:TOST) by 90.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,114 shares of the company’s stock after selling 262,304 shares during the period. Great Lakes Advisors LLC’s holdings in Toast were worth $1,026,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. K.J. Harrison & Partners Inc purchased a new position in shares of Toast in the second quarter worth about $1,329,000. Nordea Investment Management AB lifted its stake in Toast by 49.5% during the third quarter. Nordea Investment Management AB now owns 138,619 shares of the company’s stock worth $4,988,000 after purchasing an additional 45,898 shares during the last quarter. Reliant Investment Partners LLC bought a new stake in shares of Toast in the 2nd quarter worth approximately $472,000. Northeast Investment Management lifted its stake in shares of Toast by 52.3% in the 2nd quarter. Northeast Investment Management now owns 79,690 shares of the company’s stock valued at $3,529,000 after acquiring an additional 27,365 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in Toast by 74.4% during the 3rd quarter. Jennison Associates LLC now owns 15,000,561 shares of the company’s stock valued at $547,670,000 after buying an additional 6,398,674 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Toast

In other news, CEO Aman Narang sold 8,591 shares of Toast stock in a transaction on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $295,358.58. Following the completion of the sale, the chief executive officer directly owned 338,850 shares in the company, valued at approximately $11,649,663. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Stephen Fredette sold 4,866 shares of Toast stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $167,293.08. Following the sale, the president directly owned 910,606 shares of the company’s stock, valued at $31,306,634.28. This represents a 0.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 102,595 shares of company stock valued at $3,634,737 over the last three months. Corporate insiders own 12.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TOST. UBS Group reiterated a “buy” rating on shares of Toast in a report on Thursday, December 18th. Evercore ISI raised Toast from an “in-line” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Tuesday, January 20th. Wells Fargo & Company raised shares of Toast to a “strong-buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Toast in a research note on Monday, December 29th. Finally, Oppenheimer reduced their price target on Toast from $49.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.82.

Toast Stock Down 0.1%

Shares of Toast stock opened at $31.05 on Monday. Toast, Inc. has a 52 week low of $28.12 and a 52 week high of $49.66. The stock’s 50-day simple moving average is $34.75 and its 200-day simple moving average is $38.50. The company has a market capitalization of $15.99 billion, a price-to-earnings ratio of 72.21 and a beta of 1.93.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) 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 $1.58 billion. Toast had a net margin of 4.68% and a return on equity of 15.77%. The business’s revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. On average, equities analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

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.