Toast, Inc. $TOST Stock Position Lifted by Neo Ivy Capital Management

Neo Ivy Capital Management lifted its position in Toast, Inc. (NYSE:TOST) by 35.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,562 shares of the company’s stock after acquiring an additional 23,854 shares during the quarter. Toast accounts for approximately 0.8% of Neo Ivy Capital Management’s holdings, making the stock its 26th largest position. Neo Ivy Capital Management’s holdings in Toast were worth $3,306,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Quent Capital LLC acquired a new stake in shares of Toast during the 3rd quarter valued at approximately $27,000. RiverPark Advisors LLC acquired a new position in Toast in the second quarter worth $30,000. Alpine Bank Wealth Management bought a new stake in Toast during the third quarter valued at $30,000. Wolff Wiese Magana LLC acquired a new stake in shares of Toast during the third quarter worth $37,000. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Toast during the second quarter worth $42,000. 82.91% of the stock is currently owned by institutional investors.

Toast Stock Performance

Shares of NYSE TOST opened at $30.38 on Friday. Toast, Inc. has a 1 year low of $24.35 and a 1 year high of $49.66. The firm has a market cap of $15.92 billion, a P/E ratio of 56.26 and a beta of 1.95. The stock has a fifty day moving average price of $31.16 and a two-hundred day moving average price of $35.42.

Toast (NYSE:TOST) last announced its quarterly earnings data 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). Toast had a net margin of 5.56% and a return on equity of 18.14%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the company earned $0.05 EPS. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. On average, research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

TOST has been the subject of several research reports. Jefferies Financial Group set a $35.00 price target on shares of Toast in a report on Friday, February 13th. Oppenheimer dropped their price objective on shares of Toast from $48.00 to $39.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. UBS Group set a $40.00 target price on shares of Toast in a report on Friday, February 13th. Needham & Company LLC lowered 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. Finally, Truist Financial set a $36.00 price target on Toast in a research report on Wednesday, February 25th. Seventeen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.46.

Insider Transactions at Toast

In other Toast news, CRO Jonathan Vassil sold 1,454 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total value of $44,114.36. Following the completion of the sale, the executive directly owned 139,893 shares of the company’s stock, valued at approximately $4,244,353.62. This represents a 1.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 1,437 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total transaction of $43,598.58. Following the transaction, the chief financial officer owned 164,629 shares of the company’s stock, valued at approximately $4,994,843.86. This trade represents a 0.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 100,856 shares of company stock valued at $3,540,449 in the last quarter. 12.14% of the stock is owned by company insiders.

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.