Dynamic Technology Lab Private Ltd Boosts Stock Position in Toast, Inc. $TOST

Dynamic Technology Lab Private Ltd boosted its stake in shares of Toast, Inc. (NYSE:TOST) by 227.8% in the third quarter, Holdings Channel reports. The institutional investor owned 69,655 shares of the company’s stock after purchasing an additional 48,405 shares during the period. Toast accounts for approximately 0.4% of Dynamic Technology Lab Private Ltd’s portfolio, making the stock its 24th biggest position. Dynamic Technology Lab Private Ltd’s holdings in Toast were worth $2,543,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Quent Capital LLC bought a new position in shares of Toast during the third quarter valued at $27,000. RiverPark Advisors LLC bought a new position in Toast in the 2nd quarter worth about $30,000. Alpine Bank Wealth Management bought a new position in Toast in the 3rd quarter worth about $30,000. Wolff Wiese Magana LLC purchased a new stake in Toast during the 3rd quarter valued at about $37,000. Finally, Loomis Sayles & Co. L P bought a new stake in Toast during the 2nd quarter valued at about $42,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In other news, General Counsel Brian R. Elworthy sold 3,303 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $113,557.14. Following 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 Securities & Exchange Commission, which is available through this link. Also, CFO Elena Gomez sold 1,437 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total value of $43,598.58. Following the completion of the transaction, the chief financial officer owned 164,629 shares in the company, valued at approximately $4,994,843.86. This trade represents a 0.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 100,856 shares of company stock worth $3,540,449. 12.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on TOST. BNP Paribas Exane raised shares of Toast from a “hold” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Monday, December 1st. Needham & Company LLC reduced their price target on shares of Toast from $60.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Citigroup decreased their price objective on shares of Toast from $51.00 to $42.00 and set a “buy” rating for the company in a report on Friday, February 13th. Jefferies Financial Group set a $35.00 price objective on Toast in a research report on Friday, February 13th. Finally, The Goldman Sachs Group cut their target price on Toast from $43.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 17th. Seventeen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Toast currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.46.

Toast Stock Down 0.4%

Shares of TOST stock opened at $30.38 on Friday. The company has a 50 day moving average price of $31.16 and a 200-day moving average price of $35.37. Toast, Inc. has a 52 week low of $24.35 and a 52 week high of $49.66. The firm has a market capitalization of $15.92 billion, a PE ratio of 56.26 and a beta of 1.95.

Toast (NYSE:TOST) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a net margin of 5.56% and a return on equity of 18.14%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the company earned $0.05 EPS. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. Analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current year.

Toast announced that its board has initiated a share buyback plan on Thursday, February 12th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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.