Voya Investment Management LLC Decreases Stake in Toast, Inc. $TOST

Voya Investment Management LLC cut its holdings in shares of Toast, Inc. (NYSE:TOST) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,489,723 shares of the company’s stock after selling 24,019 shares during the quarter. Voya Investment Management LLC’s holdings in Toast were worth $54,390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. RiverPark Advisors LLC bought a new stake in shares of Toast in the second quarter valued at approximately $30,000. Ameritas Advisory Services LLC purchased a new stake in Toast during the 2nd quarter worth about $31,000. REAP Financial Group LLC boosted its stake in Toast by 173.3% in the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after purchasing an additional 506 shares during the period. Loomis Sayles & Co. L P bought a new stake in shares of Toast during the second quarter valued at about $42,000. Finally, Motco purchased a new stake in shares of Toast in the second quarter worth about $44,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Price Performance

TOST opened at $36.21 on Friday. The stock’s 50 day simple moving average is $35.89 and its 200 day simple moving average is $40.35. Toast, Inc. has a 1 year low of $28.12 and a 1 year high of $49.66. The firm has a market cap of $18.65 billion, a price-to-earnings ratio of 84.21 and a beta of 1.94.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a net margin of 4.68% and a return on equity of 15.77%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the company earned $0.07 EPS. The company’s quarterly revenue was up 25.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Jefferies Financial Group reduced their price objective on shares of Toast from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Toast in a research report on Monday. Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. The Goldman Sachs Group lowered their price target on Toast from $51.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Finally, Morgan Stanley boosted their price objective on Toast from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.18.

Insider Buying and Selling

In other news, CRO Jonathan Vassil sold 1,442 shares of Toast stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total value of $51,248.68. Following the sale, the executive directly owned 71,424 shares in the company, valued at approximately $2,538,408.96. This trade represents a 1.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aman Narang sold 1,732 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total value of $61,555.28. Following the transaction, the chief executive officer directly owned 319,939 shares in the company, valued at $11,370,632.06. This trade represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 49,759 shares of company stock valued at $1,769,270 over the last ninety days. Corporate insiders own 12.14% of the company’s stock.

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.