Xponance Inc. Sells 4,084 Shares of Toast, Inc. (NYSE:TOST)

Xponance Inc. reduced its position in shares of Toast, Inc. (NYSE:TOST) by 8.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,436 shares of the company’s stock after selling 4,084 shares during the period. Xponance Inc.’s holdings in Toast were worth $848,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TOST. Rakuten Securities Inc. acquired a new stake in Toast in the 4th quarter valued at about $150,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Toast by 4.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,210 shares of the company’s stock valued at $1,081,000 after acquiring an additional 2,577 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Toast by 69.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,600,377 shares of the company’s stock valued at $120,523,000 after acquiring an additional 2,708,597 shares in the last quarter. Lecap Asset Management Ltd. acquired a new stake in Toast in the 4th quarter valued at about $965,000. Finally, Mn Services Vermogensbeheer B.V. increased its position in Toast by 1.4% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 147,800 shares of the company’s stock valued at $2,699,000 after acquiring an additional 2,000 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Insider Activity

In other news, CRO Jonathan Vassil sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $22.90, for a total value of $1,145,000.00. Following the completion of the transaction, the executive now owns 25,422 shares in the company, valued at $582,163.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CRO Jonathan Vassil sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $22.90, for a total value of $1,145,000.00. Following the completion of the transaction, the executive now owns 25,422 shares in the company, valued at $582,163.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Michael Matlock sold 1,205 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $28,197.00. Following the transaction, the insider now owns 40,954 shares of the company’s stock, valued at approximately $958,323.60. The disclosure for this sale can be found here. Insiders sold 414,486 shares of company stock worth $8,662,487 over the last quarter. 13.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Mizuho restated a “neutral” rating and issued a $17.00 price objective on shares of Toast in a research report on Wednesday, March 27th. Robert W. Baird lifted their price target on shares of Toast from $24.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Royal Bank of Canada reiterated a “sector perform” rating and set a $23.00 price target on shares of Toast in a research report on Thursday, April 11th. Piper Sandler lifted their price target on shares of Toast from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Finally, Keefe, Bruyette & Woods began coverage on shares of Toast in a research report on Tuesday, April 9th. They set a “market perform” rating and a $25.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Toast has an average rating of “Hold” and an average target price of $24.32.

Toast Price Performance

Toast stock opened at $23.12 on Friday. The company’s 50 day simple moving average is $23.25 and its 200 day simple moving average is $19.16. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $27.00. The firm has a market capitalization of $10.43 billion, a price-to-earnings ratio of -45.32 and a beta of 1.79.

Toast (NYSE:TOST) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The business’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.19) earnings per share. As a group, analysts predict that Toast, Inc. will post -0.22 EPS for the current fiscal year.

About Toast

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.