26,700 Shares in Toast, Inc. $TOST Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC purchased a new stake in shares of Toast, Inc. (NYSE:TOST) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 26,700 shares of the company’s stock, valued at approximately $975,000.

Other institutional investors also recently modified their holdings of the company. K.J. Harrison & Partners Inc purchased a new position in Toast in the 2nd quarter worth $1,329,000. Nordea Investment Management AB raised its position in Toast by 49.5% during the third quarter. Nordea Investment Management AB now owns 138,619 shares of the company’s stock valued at $4,988,000 after acquiring an additional 45,898 shares in the last quarter. Reliant Investment Partners LLC acquired a new position in shares of Toast in the second quarter worth about $472,000. Northeast Investment Management grew its stake in 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 period. Finally, Jennison Associates LLC lifted its position in shares of Toast by 74.4% in the third quarter. Jennison Associates LLC now owns 15,000,561 shares of the company’s stock valued at $547,670,000 after acquiring an additional 6,398,674 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling

In other news, CFO Elena Gomez sold 6,672 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 $229,383.36. Following the transaction, the chief financial officer directly owned 162,153 shares in the company, valued at approximately $5,574,820.14. This trade represents a 3.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aman Narang sold 8,591 shares of Toast stock in a transaction that occurred 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 transaction, the chief executive officer owned 338,850 shares in the company, valued at approximately $11,649,663. The trade was a 2.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 94,609 shares of company stock valued at $3,350,915 over the last 90 days. 12.14% of the stock is owned by corporate insiders.

Toast Price Performance

TOST opened at $31.54 on Tuesday. The stock has a market capitalization of $16.24 billion, a price-to-earnings ratio of 73.34 and a beta of 1.93. The business has a 50-day moving average of $34.71 and a two-hundred day moving average of $38.40. Toast, Inc. has a 12 month low of $28.12 and a 12 month high of $49.66.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, November 4th. 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 for the quarter, compared to analysts’ expectations of $1.58 billion. Toast had a return on equity of 15.77% and a net margin of 4.68%.Toast’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.07 earnings per share. Equities research analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TOST shares. Royal Bank Of Canada set a $45.00 price objective on Toast in a research note on Wednesday, November 5th. Oppenheimer dropped their target price on shares of Toast from $49.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. Citigroup upgraded shares of Toast to a “strong-buy” rating in a research note on Thursday, October 23rd. Evercore ISI upgraded shares of Toast from an “in-line” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Tuesday, January 20th. Finally, Stephens set a $42.00 price target on Toast in a research report on Friday, January 16th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.55.

About Toast

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.