Mirabella Financial Services LLP Decreases Stock Holdings in Toast, Inc. $TOST

Mirabella Financial Services LLP trimmed its position in Toast, Inc. (NYSE:TOST) by 76.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,516 shares of the company’s stock after selling 18,335 shares during the period. Mirabella Financial Services LLP’s holdings in Toast were worth $201,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. RiverPark Advisors LLC purchased a new position in Toast in the second quarter worth approximately $30,000. Quent Capital LLC acquired a new stake in shares of Toast during the third quarter worth about $27,000. Alpine Bank Wealth Management acquired a new position in shares of Toast in the third quarter worth $30,000. Loomis Sayles & Co. L P acquired a new position in Toast during the 2nd quarter worth $42,000. Finally, Wolff Wiese Magana LLC purchased a new stake in shares of Toast during the third quarter worth approximately $37,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Stock Performance

TOST opened at $27.46 on Friday. The firm has a 50 day moving average price of $29.64 and a 200 day moving average price of $34.33. The company has a market cap of $14.39 billion, a PE ratio of 50.85 and a beta of 1.95. Toast, Inc. has a 1 year low of $24.35 and a 1 year high of $49.66.

Toast (NYSE:TOST) last posted its earnings results on Thursday, February 12th. The company reported $0.16 earnings per share 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 analyst estimates of $1.62 billion. Toast had a net margin of 5.56% and a return on equity of 18.14%. The business’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 EPS. On average, sell-side analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Toast announced that its board has authorized a share repurchase program on Thursday, February 12th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Morgan Stanley set a $51.00 price objective on shares of Toast in a research note on Friday, February 13th. Sanford C. Bernstein set a $39.00 target price on shares of Toast in a research note on Monday, February 16th. BNP Paribas Exane upgraded Toast from a “hold” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Monday, December 1st. Stephens set a $42.00 target price on shares of Toast in a research report on Friday, January 16th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Toast in a research note on Monday, December 29th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.46.

Insider Buying and Selling at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 3,303 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $34.38, for a total value of $113,557.14. Following the completion of the transaction, the general counsel directly owned 235,757 shares of the company’s stock, valued at $8,105,325.66. This represents a 1.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Jonathan Vassil sold 1,454 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total value of $44,114.36. Following the sale, the executive owned 139,893 shares of the company’s stock, valued at approximately $4,244,353.62. This trade represents a 1.03% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 100,856 shares of company stock worth $3,540,449. 12.14% of the stock is currently owned by insiders.

Toast 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.