Vanguard Personalized Indexing Management LLC Cuts Stock Holdings in Toast, Inc. (NYSE:TOST)

Posted by Defense World Staff on May 28th, 2023

Vanguard Personalized Indexing Management LLC lessened its position in Toast, Inc. (NYSE:TOST – Get Rating) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,806 shares of the company’s stock after selling 2,996 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Toast were worth $465,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TOST. Lord Abbett & CO. LLC purchased a new position in Toast during the third quarter worth approximately $3,453,000. Amalgamated Bank increased its position in shares of Toast by 10.6% during the 3rd quarter. Amalgamated Bank now owns 55,758 shares of the company’s stock worth $932,000 after purchasing an additional 5,326 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in Toast by 38.5% in the third quarter. Rockefeller Capital Management L.P. now owns 7,754 shares of the company’s stock valued at $129,000 after buying an additional 2,157 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Toast in the fourth quarter valued at about $191,000. Finally, HighTower Advisors LLC increased its position in shares of Toast by 85.4% during the fourth quarter. HighTower Advisors LLC now owns 175,175 shares of the company’s stock valued at $3,157,000 after acquiring an additional 80,694 shares during the last quarter. 50.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TOST has been the subject of a number of research analyst reports. Piper Sandler raised their target price on Toast from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, February 17th. Sumitomo Mitsui Financial Group cut shares of Toast from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $26.00 to $23.00 in a report on Friday, February 17th. Mizuho increased their target price on shares of Toast from $23.00 to $25.00 in a report on Tuesday, May 16th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Toast in a research note on Thursday, April 6th. They issued a “hold” rating and a $20.00 price target for the company. Finally, Credit Suisse Group increased their price objective on Toast from $21.50 to $23.00 and gave the company a “neutral” rating in a research note on Friday, February 17th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and an average target price of $22.75.

Insider Activity at Toast

In other Toast news, major shareholder Bessemer Venture Partners Ix L sold 500,000 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $20.93, for a total transaction of $10,465,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Toast news, major shareholder Bessemer Venture Partners Ix L sold 500,000 shares of Toast stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $20.93, for a total transaction of $10,465,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher P. Comparato sold 33,333 shares of the company’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $16.70, for a total transaction of $556,661.10. Following the completion of the sale, the chief executive officer now directly owns 109,895 shares in the company, valued at approximately $1,835,246.50. The disclosure for this sale can be found here. Insiders sold 2,361,751 shares of company stock valued at $49,221,254 in the last ninety days. Corporate insiders own 20.16% of the company’s stock.

Toast Price Performance

NYSE:TOST opened at $21.42 on Friday. Toast, Inc. has a 12-month low of $12.15 and a 12-month high of $26.03. The stock’s 50 day simple moving average is $18.27 and its 200-day simple moving average is $19.06.

Toast (NYSE:TOST – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. Toast had a negative net margin of 11.01% and a negative return on equity of 29.74%. The firm had revenue of $819.00 million for the quarter, compared to the consensus estimate of $763.11 million. During the same quarter in the previous year, the firm earned ($0.20) earnings per share. The firm’s revenue was up 53.1% on a year-over-year basis. On average, analysts forecast that Toast, Inc. will post -0.58 earnings per share for the current year.

Toast Company Profile

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Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.