Swiss Life Asset Management Ltd Has $7.57 Million Holdings in Toast, Inc. $TOST

Swiss Life Asset Management Ltd lifted its stake in shares of Toast, Inc. (NYSE:TOST) by 80.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 207,194 shares of the company’s stock after acquiring an additional 92,385 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Toast were worth $7,565,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. RiverPark Advisors LLC bought a new position in shares of Toast in the 2nd quarter valued at approximately $30,000. Quent Capital LLC bought a new stake in Toast during the third quarter worth approximately $27,000. Alpine Bank Wealth Management acquired a new position in Toast during the third quarter valued at approximately $30,000. Loomis Sayles & Co. L P bought a new position in shares of Toast in the second quarter valued at approximately $42,000. Finally, Wolff Wiese Magana LLC bought a new position in shares of Toast in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Activity

In other Toast news, CRO Jonathan Vassil sold 66,390 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $35.86, for a total value of $2,380,745.40. Following the completion of the transaction, the executive owned 84,589 shares of the company’s stock, valued at $3,033,361.54. This represents a 43.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Aman Narang sold 8,591 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $295,358.58. Following the completion of the sale, the chief executive officer owned 338,850 shares of the company’s stock, valued at $11,649,663. This represents a 2.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 100,856 shares of company stock valued at $3,540,449. Corporate insiders own 12.14% of the company’s stock.

Toast Price Performance

Shares of Toast stock opened at $27.46 on Friday. The company has a market cap of $14.39 billion, a PE ratio of 50.85 and a beta of 1.95. The firm has a fifty day moving average price of $29.64 and a two-hundred day moving average price of $34.27. Toast, Inc. has a fifty-two week low of $24.35 and a fifty-two week high of $49.66.

Toast (NYSE:TOST) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.16 EPS 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 analyst estimates of $1.62 billion. During the same period in the prior year, the company posted $0.05 EPS. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. Analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Toast in a report on Monday, December 29th. DA Davidson dropped their target price on shares of Toast from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Tuesday, February 17th. UBS Group set a $40.00 price target on shares of Toast in a report on Friday, February 13th. Wolfe Research downgraded Toast from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 8th. Finally, The Goldman Sachs Group dropped their price objective 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 analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $40.46.

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.