AustralianSuper Pty Ltd Reduces Stock Position in Toast, Inc. $TOST

AustralianSuper Pty Ltd reduced its holdings in shares of Toast, Inc. (NYSE:TOST) by 23.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 846,547 shares of the company’s stock after selling 253,709 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Toast were worth $30,061,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Capital International Investors lifted its stake in shares of Toast by 7.4% during the 3rd quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock valued at $1,768,256,000 after buying an additional 3,351,545 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Toast by 0.8% in the third quarter. Vanguard Group Inc. now owns 44,764,157 shares of the company’s stock worth $1,634,339,000 after acquiring an additional 352,435 shares during the period. Jennison Associates LLC boosted its holdings in shares of Toast by 1.0% in the fourth quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock worth $538,259,000 after acquiring an additional 157,394 shares during the period. State Street Corp boosted its holdings in shares of Toast by 3.5% in the third quarter. State Street Corp now owns 9,538,312 shares of the company’s stock worth $348,244,000 after acquiring an additional 325,423 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of Toast by 2,432.8% in the third quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock worth $299,957,000 after acquiring an additional 7,891,383 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TOST has been the subject of a number of recent analyst reports. Needham & Company LLC reduced their target price on Toast from $60.00 to $35.00 and set a “buy” rating for the company in a report on Friday, February 13th. DA Davidson reduced their target price on Toast from $33.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday. UBS Group decreased their target price on shares of Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Oppenheimer reaffirmed an “outperform” rating and set a $36.00 target price on shares of Toast in a report on Friday, May 8th. Finally, Evercore raised shares of Toast from an “in-line” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $37.84.

Toast Trading Down 0.2%

Shares of TOST opened at $23.02 on Friday. The company has a market cap of $11.88 billion, a PE ratio of 35.41 and a beta of 1.81. The stock has a 50-day moving average price of $27.27 and a 200-day moving average price of $31.19. Toast, Inc. has a 12-month low of $22.26 and a 12-month high of $49.66.

Toast (NYSE:TOST) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. Toast had a net margin of 6.39% and a return on equity of 20.86%. The business’s revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 EPS. As a group, analysts predict that Toast, Inc. will post 0.81 earnings per share for the current year.

Toast declared that its board has approved a share buyback plan on Thursday, February 12th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Toast news, CRO Jonathan Vassil sold 6,438 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $168,611.22. Following the completion of the transaction, the executive owned 146,618 shares of the company’s stock, valued at $3,839,925.42. The trade was a 4.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 3,664 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $95,960.16. Following the completion of the transaction, the general counsel directly owned 243,642 shares of the company’s stock, valued at approximately $6,380,983.98. This represents a 1.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 39,783 shares of company stock worth $1,041,917. Company 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.