Ossiam Grows Holdings in Toast, Inc. $TOST

Ossiam boosted its stake in Toast, Inc. (NYSE:TOST) by 16,599.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 365,219 shares of the company’s stock after buying an additional 363,032 shares during the period. Ossiam’s holdings in Toast were worth $13,334,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Cim LLC increased its holdings in shares of Toast by 0.7% during the second quarter. Cim LLC now owns 38,302 shares of the company’s stock valued at $1,696,000 after purchasing an additional 273 shares during the period. Bridgewater Advisors Inc. increased its stake in Toast by 2.3% during the 3rd quarter. Bridgewater Advisors Inc. now owns 13,107 shares of the company’s stock valued at $472,000 after buying an additional 294 shares during the period. Trinity Financial Advisors LLC raised its position in shares of Toast by 2.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 12,094 shares of the company’s stock worth $442,000 after buying an additional 296 shares in the last quarter. Purus Wealth Management LLC raised its position in shares of Toast by 5.8% during the 3rd quarter. Purus Wealth Management LLC now owns 6,002 shares of the company’s stock worth $219,000 after buying an additional 330 shares in the last quarter. Finally, Investment Management Corp VA ADV lifted its stake in shares of Toast by 2.4% in the 3rd quarter. Investment Management Corp VA ADV now owns 14,192 shares of the company’s stock worth $518,000 after acquiring an additional 339 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on TOST. Oppenheimer decreased their price objective on shares of Toast from $48.00 to $39.00 and set an “outperform” rating for the company in a report on Friday, February 13th. UBS Group set a $40.00 price target on Toast in a research note on Friday, February 13th. Mizuho lowered their price target on Toast from $57.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. DA Davidson dropped their price objective on Toast from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 17th. Finally, Needham & Company LLC cut their price objective on Toast from $60.00 to $35.00 and set a “buy” rating for the company in a report on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.46.

Toast Stock Performance

Shares of NYSE:TOST opened at $27.54 on Friday. The company has a market capitalization of $14.43 billion, a PE ratio of 51.00 and a beta of 1.95. The stock has a fifty day moving average of $30.45 and a 200-day moving average of $34.92. Toast, Inc. has a one year low of $24.35 and a one year high of $49.66.

Toast (NYSE:TOST) last issued its 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 company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. Toast had a return on equity of 18.14% and a net margin of 5.56%.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 earned $0.05 earnings per share. As a group, research analysts forecast that Toast, Inc. will post 0.39 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other Toast news, CEO Aman Narang sold 8,591 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 transaction of $295,358.58. Following the completion of the sale, the chief executive officer directly owned 338,850 shares of the company’s stock, valued at approximately $11,649,663. This represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Stephen Fredette sold 4,866 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $167,293.08. Following the completion of the transaction, the president owned 910,606 shares of the company’s stock, valued at approximately $31,306,634.28. The trade was a 0.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 100,856 shares of company stock worth $3,540,449 over the last three months. Company insiders own 12.14% of the company’s stock.

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.